The Glenn Beck Program - Best of the Program ｜ Guest： Vivek Ramaswamy ｜ 11⧸14⧸22

00:00:00.000 you weren't exactly a ray of sunshine still i just want you to really yeah i want you to

00:00:06.200 reevaluate what you brought to the show today and uh maybe come in with something a little happier

00:00:12.340 i'm a balance for you when you're too happy i have to be sad i have to make people angry sad

00:00:17.640 it was not good not good today uh we just uh you know we took the red pill uh which turning out to

00:00:26.160 be the blue pill but just politically speaking uh and uh and told you what was what was going on

00:00:33.000 also we went into the um the crypto exchange that looks like it's probably never going to get

00:00:41.200 prosecuted because i don't know i think he might be he has every connection known to man and donated

00:00:47.580 40 million dollars to uh to democrats i don't so i think there's a chance he might escape from this

00:00:52.960 because of those connections but man there's a if this is not criminal activity i will be stunned

00:00:57.080 it absolutely is criminal activity however uh you really think he's going to pay the price that

00:01:03.100 that even elon musk is paying now i mean look at what they're doing to elon musk and and look at how

00:01:10.740 many people are are uh it was chip what is it chipotle uh general mills one of the two uh lending tree

00:01:19.360 general motors uh united airlines holdings they all said we're joining the boycott of twitter this

00:01:28.000 is esg in action right here it's it is against a guy who started the world's largest you know

00:01:32.820 electric car company it's really it is really fascinating to watch all right want to uh get

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00:02:39.580 and here's the podcast

00:02:41.440 you're listening to the best of the glenn beck program

00:02:52.980 welcome to the glenn beck program we say hello to mr pat gray from hello gray unleashed

00:03:02.140 so welcome how are you feeling today uh miserable would be a good word despondent would be another

00:03:12.080 word huh uh defeated would be a third okay we could use so not spirited no not spirited in any way

00:03:22.400 except about the national divorce movement i'm kind of you're into that i'm kind of into that

00:03:27.360 yeah do you think that in if we got a national divorce in the new let's say constitutional republic

00:03:35.640 that we would like to live in do you think the gop would win the elections 0.99

00:03:40.100 somehow they'd still blow it they'd still they'd still blow it still find a way to lose there'd be a

00:03:47.120 communist one communist and he'd be like the green party takes over i think i should fill all of the

00:03:53.280 senate seats and they'd win yeah that's probably true yeah probably true so isn't it bizarre though

00:04:01.460 that every time you go to sleep with a lead you wake up with not the lead it's kind of strange to me

00:04:09.880 i i wasn't expecting this over the weekend have you adam laxalt would drop the what almost three

00:04:16.240 point lead he had going into the weekend two and a half points something like that yeah and all of a

00:04:20.680 he said nope he lost adam laxalt preparing him for a loss i'm like wait what how did that happen

00:04:27.560 well all the precincts that came in were heavy democrat we just thought they might be slightly

00:04:32.920 democrat okay wow that happens a lot didn't happen i didn't didn't happen in the gubernatorial race

00:04:39.700 though that's good they did that is true the republican if you're going to do it you know if you're

00:04:45.340 gonna cheat you you think you would do exactly exactly that's why or or that's what they want

00:04:54.140 you to think you know what we'll give them the governorship we'll give them that they won't be

00:04:59.360 able to as long as we have the senate then they won't be able to say anything uh it hurts though it

00:05:05.100 hurts it does and to see the victory lap that biden is taking i mean after the g message he's he meets

00:05:11.800 with xi for three hours comes out talking about you know how great it is that democrats won that uh

00:05:18.580 well how how did he put it that oh election denialism was strongly rejected because you know there's such

00:05:27.560 wide and open and honest elections in china that's i'm glad he uh he was able to shine light on that

00:05:35.080 yeah because they've been doing such a good job uh president xi very very popular very very very

00:05:40.980 popular in fact i think he might win 98 99 of the vote well if they let that's because they call him

00:05:47.220 mr freedom mr freedom mr freedom mr freedom mr freedom wow i didn't see that one coming yeah no but

00:05:56.660 then again i didn't see laxalt lose no i didn't either no did not either so at least it takes the edge off

00:06:02.420 the georgia race now doesn't it yeah it's like uh whatever it might be good for uh for walker's

00:06:09.520 chances i think there's an argument made that like now that control isn't a hundred percent

00:06:14.540 it's teetering on that maybe maybe uh maybe they win maybe republicans will be more active than some

00:06:22.240 sideline voters that don't typically go out to the polls maybe yeah maybe i still think my reaction

00:06:29.220 is a little like pats huh well well i mean it's it i i am it's a six-year term i'm getting out of

00:06:38.900 two i'm getting out of the car before they drive it over the cliff but they are driving it over the

00:06:44.600 cliff so assuming we still have a nation in the next couple of elections it will be nice to have

00:06:48.660 a one-seat cushion as we see how close these things are the next couple of elections yes i was

00:06:54.740 expecting six next couple of months it is important though and and next time the map

00:07:01.100 tilts towards republicans as we've discussed many times this yeah we have a better shot yeah

00:07:05.800 2024 should be a good year now he said it's mcconnell's gonna see to that i'll tell you i thought you

00:07:11.880 were just talking about maybe replacing him with somebody i am talking more excited about now there

00:07:16.020 are some people that are talking about it as well uh you know there's um

00:07:21.540 there's josh holly okay eric schmidt yes rick scott good ron johnson all right uh lindsey graham

00:07:31.800 lindsey graham yeah that's a surprise yeah yeah mike lee huh jd vance okay ted cruz like that rubio

00:07:39.460 rubio was in that mm-hmm there's a there's a few murkowski strangely not huh what a surprise

00:07:45.200 not stunning surprise did they call that race yet i don't know i haven't checked that one in a while

00:07:50.160 for the love of p just call it alaska i know i don't know if they have yet actually i do because

00:07:55.120 no they haven't because they have to do the rank choice thing and they have to wait for all the

00:07:57.880 votes to come in but she's gonna i think murkowski's the favorite there by uh of course she is of course 1.00

00:08:03.260 she is you're gonna go for so the more of the two evils not the lesser it's never but the more

00:08:11.100 yeah so chewbacca is currently up by two points this is

00:08:16.220 it went ask for a comment it has for a comment that's what she said 1.00

00:08:21.940 we've been talking about that race for like two weeks like why have we not talked about this race

00:08:28.360 without with pat in here we need pat in here when we're talking about the chewbacca race right 1.00

00:08:33.980 because it's important to have somebody that can do

00:08:35.940 murkowski's at 42.8 but the way this breaks out of course when you do the rank choice voting

00:08:46.260 you're going to lose the last candidate first and her her vote which i think the last one is a

00:08:51.000 republican but it's only a couple percent and that let's just say that even goes to chewbacca which it

00:08:56.560 could go either way the next one's a democrat and that's not i think nine percent of the vote

00:09:01.080 and that that percentage will be distributed between it will almost exclusively go to murkowski

00:09:06.840 which should really over the 50 point uh barrier that that's the way i'm looking at that race now

00:09:11.900 of course there's still a bunch of votes to come in alaska is one of these from labor unions i

00:09:16.500 possibly uh i think you have 14 days after the election to have your they wait 14 days something

00:09:22.940 like that and to get all the votes in what yeah i look do they have to be at least like marked the

00:09:30.040 day i think they have to be postmarked postmarked by and you might say like it's three towns away

00:09:34.460 and it still takes 14 days in alaska that could be the truth i don't know i think you know alaska

00:09:39.360 is a little bit of a different place but i mean if there's one you can't there's no reason to do

00:09:43.900 this in like california like there alaska maybe you have a there's some island out that no one's

00:09:48.680 ever visited and i don't know it takes a while for the mail to get there maybe but like you know

00:09:54.760 it's like new york city we need six months sorry i think nevada did that either nevada or arizona i

00:10:00.340 was reading about one of the two i can't remember over the weekend and they said that saturday was the

00:10:06.360 deadline for mail-in votes yeah to arrive and be counted and it didn't even specify whether or not

00:10:13.240 they had to be postmarked yeah they do have november 8th so that's good at least well the other ones

00:10:18.420 they do is they're like what you don't care about our military members serving overseas that want to

00:10:24.140 get their votes what happens about a person who is in a cave in afghanistan and decides on election day

00:10:31.500 he's going he needs to he gives it to a sherpa who postmarks it on november 8th who then has to

00:10:37.620 walk it and he hasn't heard yet that we withdrew from afghanistan a year ago he's in a cave how would

00:10:44.080 he know okay you're right he just knows he wanted catherine cortez masto to be the next senator

00:10:49.140 i think that's a very good point a very good point and you know while you're at it i mean sure he's

00:10:57.300 over in a cave but you might be in the kitchen of some some union kitchen where there's knives and

00:11:04.280 you've got to you've got to get around all the knives as you're passing out the ballots and then

00:11:08.700 collecting all the ballots and making sure that it gets there you might need a couple of months

00:11:13.300 that's very likely that happens it takes some time how many times have we seen that be the case

00:11:18.080 for some of these voters many many times many times or you might be dead and it takes you a little

00:11:25.840 longer to get it out of your casket above ground into the hand of a mailman and all the way to the

00:11:32.200 voting place right you know it takes some time for the dead to get their vote counted they move

00:11:37.300 slowly if you've ever seen very slowly or a zombie i don't know if you've seen this i i've seen this

00:11:43.240 happen you have to convince the worms to take that letter up above the soil and a lot of them don't want

00:11:51.680 to no and they have they have to they have to grab that ballot with their teeth with their worm teeth

00:11:59.440 the worm teeth okay worm teeth and get that up there yeah and worm teeth uh you know they might

00:12:05.360 bite through the they might start eating the ballot you have to get it up there before they finish

00:12:09.000 dissolving it that was the problem with the with the chads oh really yeah the worm teeth the worm

00:12:15.140 it was worm dang it man so many of our problems come back so many teeth so many you know yeah good

00:12:21.300 chunk of them hey so can i uh can i just give you a story about walgreens uh walgreens has decided to

00:12:28.440 close three locations in boston oh what racists hey man thank you for saying you're welcome 0.75

00:12:34.880 so clear and obvious that that's all about racism it is now they might have been you know robbed

00:12:42.820 every day yeah but who isn't uh that's just sheer unadulterated racism thank you pat i was glad somebody

00:12:52.200 said and i was i was hoping you i was hoping you would see that like the city of boston does

00:12:57.480 everything is racism now everything is racist it's true it's true i was uh my wife and i went away

00:13:04.540 i was in nashville nashville i love nashville it's a great town of great people around uh went into a

00:13:10.060 walgreens there and that was an interesting experience really yeah it was different than

00:13:14.460 the most of the walgreens that i go to in what way um well uh she was inside the store accosted by 1.00

00:13:21.960 multiple homeless people while she was in her aisle and i was in my other aisle and she had to kind of

00:13:26.720 come over and and uh and uh let me know now this is like you have she has a problem with homeless 0.88

00:13:34.000 people uh right in this sort of in this circumstance yes first of all wow on the walk over there

00:13:39.580 obviously there was 1400 homeless people that came up and asked us for money or looked at us in a in

00:13:45.300 in a threatening manner of some sort but that's just nashville that's just what what's going on down

00:13:51.760 there downtown uh yeah after you could crawl over the giant bags of trash that are on every single

00:13:57.360 corner but once you get past that whole circumstance you think once you're inside the walgreens

00:14:03.780 you're gonna have a moment a respite of some sort listen to this elitism glenn i know i need the

00:14:10.740 elitism of this guy my gosh oh wow i mean like it's sad it's a real problem when they shop at walgreens

00:14:18.120 all the time you know what i mean they're just like the upscale the upscale walgreens you do kind of

00:14:24.720 expect though inside a store to not be harassed by people okay and uh apparently not okay apparently

00:14:32.040 you expect to be harassed by sales people trying to sell you stuff that's what i expect going

00:14:36.780 is that the way it happens at tiffany's i don't know glenn do you want to get into an elitism battle

00:14:42.460 on the air oh we're all out of time okay i just want to make sure

00:14:46.000 this is the best of the glenn beck program

00:14:52.180 vivek ramashwamy is with us uh now vivek glenn how are you i'm good kind of a disappointing week

00:15:03.300 uh last week but uh recovering from it and uh and moving on yeah well you know that's the only way

00:15:11.220 forward right i know it is so so vivek i wanted to get you on to explain the ftx thing to somebody like

00:15:19.260 me that's not really up on ftx and i haven't been following this 30 year old guy tell me what's

00:15:26.480 what's happening and what it means it's a really interesting story glenn and not all of the details

00:15:32.500 are crystal clear yet i can give you the the super detailed version if you're interested but the

00:15:37.740 slightly less summary version is that there's a guy who operated an exchange called ftx right that

00:15:45.560 was the exchange where people trade cryptocurrencies it's like coin guys own yeah exactly except this

00:15:51.600 is offshore coinbase is onshore so think about that as an exchange but it's a centralized exchange it

00:15:56.980 just happens to trade cryptocurrency so it's like an old school think about as an equivalent of like a

00:16:01.740 stock exchange except people can trade cryptocurrencies on it now that's owned and founder founded by and

00:16:07.580 lead owner is sam bankman freed who goes by sbs but he also had a separate hedge fund called alameda so

00:16:16.660 that's a trading firm so that's not an exchange that's just trading to try to make money like people

00:16:21.580 always have on wall street this has existed for a very long time hedge funds that just traded their

00:16:26.900 own capital to make more money so he's operating both the exchange and his own hedge fund and it appears

00:16:33.080 what happened was when that hedge fund encountered a bunch of losses and they have leverage right that means

00:16:38.960 they're borrowing that means they have to post collateral to cover for those losses so it appears what he did

00:16:45.860 was he took customer funds from the exchange but used that to borrow it and post it as collateral and when that

00:16:55.000 came to light the other participants in that exchange particularly one big market participant this guy

00:17:03.000 cheng pang zao said that he was going to dump a bunch of the and this is where it gets a little

00:17:08.340 bit complicated but a bunch of the token issued by the exchange that basically caused the value of that

00:17:14.660 token the instrument that people hold on the exchange to collapse and that sent a free fall spiral that

00:17:20.720 caused the whole house of cards to come crashing down so you know putting complexities and the details to

00:17:26.920 one side as we can get into if you want the bottom line is there's a guy who is self-dealing

00:17:31.540 using customer money on an exchange to cover his own personal trading losses tried to cover it up

00:17:38.480 when that came to light there was a house of cards that came crashing and unfortunately many of those

00:17:43.700 customers are likely going to lose a lot of their money and even the portion they get back they're not

00:17:48.600 going to see for a very long time so that's just descriptively what happened but boy is there a lot more

00:17:53.540 that's interesting to this story when you look at this guy who was a major donor to the democratic party

00:17:58.440 one of the major faces of advocating for regulation of the cryptocurrency industry in washington dc

00:18:04.280 that created the smoke screen that prevented people from being able to see through this fundamental fraud

00:18:10.660 okay so let's i want to go there but first let's start he's like 30 years old uh and his and the the

00:18:17.580 woman running the hedge fund she girlfriend right his girlfriend looks like she's 14

00:18:23.220 yeah i'm not i'm not gonna i i don't have the facts but i will tell you it did not look uh good

00:18:31.380 it surprised me a little bit right so how is it that these two people pulled the wool over so many

00:18:38.560 people's eyes so it's a great question i think it has to do with cultivating this do-good image this

00:18:47.040 futurist image on the promise of cryptocurrency and the importance of what that would mean for

00:18:52.620 humanity i mean at the end of the day these are nothing this guy is nothing more than a high

00:18:57.520 frequency trader and there's nothing wrong with being a high frequency trader but it's just you're

00:19:01.760 in the business ordinarily to just make an extra buck to make an extra buck by beating somebody else

00:19:07.160 at the sport of trading effectively but what he managed to do was to disguise that in the veneer

00:19:12.640 of this moral superiority this morality and the funniest part about this glenn is that a lot of

00:19:18.700 people miss this this is going to have a backlash that i think is going to be over inclusive where

00:19:25.700 this guy was operating a centralized exchange that's no different than an old school exchange it just

00:19:31.340 happened to offer trading in cryptocurrencies so there's really nothing that fancy or even futuristic

00:19:36.320 let alone morally humanistic about it it's just an old school exchange where people trade stuff and

00:19:41.800 the stuff they trade it as a cryptocurrency but the actual promise of the future of cryptocurrency of

00:19:46.960 decentralization is actually decentralized exchanges where there's no single centralized owner of the

00:19:53.200 exchange and the irony here glenn is i think this is going to provoke a backlash from regulators to the

00:20:00.280 entire cryptocurrency of course it will including to decentralized exchanges and the irony here's the

00:20:05.760 ultimate irony that a lot of people miss he couldn't have done what he did if it were actually a truly

00:20:11.980 decentralized exchange the only way he was able to borrow those customer funds as one actor and lend

00:20:18.180 it over to his hedge fund to post his collateral is the fact that the exchange was centralized in the first

00:20:23.200 place and so the irony here is you have this guy who was the face of pro-regulation he was a pro-regulatory

00:20:30.040 advocate in washington dc which is why everyone viewed him as the good bot that's the good guy the golden

00:20:35.900 boy and yet the irony is he happened to be the fraudster and then the reaction to that is likely

00:20:41.280 going to include over-regulating decentralized cryptocurrency exchanges which would have been

00:20:47.440 probably the best way of actually preventing this fraud so that's the irony in the whole story that

00:20:52.360 that i think people haven't yet caught up to see isn't he also uh big in uh esg

00:20:59.160 and the world economic forum part of the smoke screen exactly it's all just part of the smoke

00:21:04.740 screen glenn is that is part of it now there was there was a story that was uh floating around on

00:21:09.880 social media yesterday that actually found that a subsidiary of fact set which is one of these rating

00:21:14.860 companies yeah uh assigned an esg score on a leadership and governance metric including as it related to

00:21:22.120 sustainability standards that was higher for this company than exxon mobil okay which is

00:21:28.120 a company that most americans will know and has been around for a long time okay so that's the bit

00:21:34.120 of the farce in this but that's just one example of the farce he's pro-regulation so the democrats in

00:21:39.920 washington dc see him as a good guy he is the second largest donor to democrats this cycle donating over

00:21:45.940 30 million dollars another point on the strike in the tally of being the good guy wait wait hang on

00:21:51.260 didn't he also didn't he also say that for 2024 he will donate up to a billion dollars to the

00:21:58.420 democrats yes so the funny thing is what he said is he was going to donate a billion dollars over the

00:22:04.720 2022 and 2024 cycle now the sad part for a lot of democrats is they were kind of upset at it because

00:22:10.620 you might think that meant like a few hundred million now and and more hundred million then

00:22:15.340 actually he only ended up donating 30 plus million so the side note to the story kind of the comic part of

00:22:20.140 this is a lot of democrats are actually upset at him for only ponying up a little over 30 million

00:22:24.520 because he had committed to a billion but you see this guy there's a common pattern over promising

00:22:29.020 and under delivering turns out that applies to political donations as well but but the broader

00:22:33.780 point though glenn is it's just all checking all the boxes speaking with clinton on stage and tony blair

00:22:39.700 boldly wearing shorts being the cool guy of the future world economic forum all that that that entire

00:22:45.700 crowd esg rating donations to the democratic party being vocally pro-regulation in an industry where

00:22:52.700 the other entrepreneurs have in my opinion for good reason resisted regulation that that created the

00:22:58.880 cultivated aura of this being one of the good guys one of the guys you could trust and it reminds

00:23:04.120 me a lot of actually that ceo of volkswagen you know you remember this guy winter corn he was the ceo

00:23:10.020 volkswagen which was the number one esg award-winning company yes until they found by the he would wax

00:23:16.500 eloquent about climate change and the energy transition until they found that he had actually

00:23:21.000 rigged the emissions measurements in their own cars right this reminded me a lot of that story

00:23:27.140 where the person who protests the case for the futurism of the esg-laden world the one of the good 0.93

00:23:34.420 guys about the pro-regulation crowd ended up being the most fraudulent of them all and it's not an

00:23:40.420 accident that that pattern just repeats itself time and again because it's all about creating a smoke

00:23:47.140 screen to allow you to get away with a kind of fraud you would have never gotten away with if people

00:23:52.620 hadn't been thrown off the scent with the smoke screen that you put up so that's the story it happens

00:23:58.460 again and again and i wish people would learn the lesson glenn but there's something about us as a

00:24:03.140 people that make us suckers for the smoke screen of wanting to be the pro-esg pro-democrat pro-regulation

00:24:09.460 good guys that every time that ends up being actually a pretty good way to throw the regulators

00:24:14.740 and to throw customers off the scent and to be able to get away with something like this and and

00:24:19.280 there's a real big uh media angle here to this too because this is yet another example elizabeth holmes

00:24:26.160 style where they made this guy into a hero all the like he he doesn't brush his hair he there are

00:24:32.120 stories about how he wears shorts to every meeting one story talked about how he would fall asleep on

00:24:38.900 beanbag chairs outside of offices and they bring in all these multi-billion dollar donors past him

00:24:45.460 while he was sleeping and then he would wake up and waddle into the the uh the meeting like 10 minutes

00:24:51.020 later and this was like he's just a genius he's a he doesn't even care he's asleep on a beanbag outside

00:24:56.980 of the meeting uh one story talked about these are all praising him where he was playing video games

00:25:02.940 during an entire presentation while he was in there and they gave him a billion dollars after

00:25:08.580 this meeting where he was playing league of legends throughout an entire meeting and like there's no

00:25:14.360 mea culpa from the media after all of this who built this guy into this celebrity to get all of

00:25:19.620 these dollars and there will never be a time all they'll get is a bunch of podcasts later on hosted

00:25:26.300 by the same reporters who initially interviewed him and made him into this superstar i mean it's a

00:25:32.140 ridiculous cycle you make such a good point and this is less a story about this random guy sbf whatever

00:25:39.060 he came two years ago he'll be gone you know two months from now but it's an indictment of our culture

00:25:45.800 i mean what is it about our state of our psyche our cultural psyche in the u.s even internationally

00:25:53.260 that causes us to bear this self-inflicting pain every time to line up behind a guy who who not only

00:26:01.160 poses to be the boy genius i mean that was elizabeth holmes version of this but to take that to the next

00:26:06.240 level to think that he is actually better than the rest of us just because he checked the boxes that

00:26:12.460 we had created in our artificial evidence edifice of esg and of of humanitarianism and of political

00:26:19.840 philanthropy it's almost as though we did this to ourselves and he was just the guy who happened to

00:26:25.400 ride the wave that the rest of our culture had created that's the more interesting part of this

00:26:30.120 story because it's the volkswagen thing all over again you know it's unilever in kenya i mean it's all

00:26:35.420 the stuff i've been writing and talking about for two years we just see the same story repeat itself

00:26:40.340 in different clothing it just happened to be in the clothing of cryptocurrency this time around

00:26:44.300 uh so i i heard um on the uh the podcast uh all in i heard brian armstrong who's the ceo of coinbase

00:26:53.000 saying he didn't he didn't see this one coming at all he said i i just thought he was a really good

00:26:59.000 really good guy he said now in retrospect i i guess i did see things but i ignored them

00:27:04.700 was there anybody who saw this i not that i know of i mean i guess what makes it such a big story

00:27:12.340 right and i'm not even you know i follow the cryptocurrency space but that's not an area

00:27:17.100 where i spend an immense inordinate amount of my time i'm focused more on you know equity markets

00:27:21.640 etc but but there is something about seeing a guy who is calling for greater regulation in his own

00:27:30.120 industry while also making greater donations to the very people who are responsible for uh crafting

00:27:37.540 those regulations gosh that sounds a bad taste in my mouth that alone just struck me as as

00:27:43.680 potentially false and inauthentic now was that going to underlie a 30 billion dollar 40 billion

00:27:48.640 dollar fraud i did not necessarily go to the extent of predicting that there's something that was

00:27:52.720 amiss about this in terms of calling for self-hating regulation while donating to very people

00:27:57.200 were going to write those regulations and that's strange that sounds a little like zuckerberg

00:28:01.860 it actually does doesn't it it does yeah it does it does um hey it's pattern repeats itself glenn

00:28:09.460 you know well so it's not going to be we could probably count if we took 10 minutes we could

00:28:12.800 probably find 10 to 20 other examples that smell just like it so i'm sketchy on all of this stuff

00:28:18.220 of ache but i there's a missing 1.7 billion billion dollars is that accurate

00:28:25.840 i i can't say if it's accurate but that is what that is that is what the latest uh reporting is

00:28:32.600 absolutely yeah how do you misplace 1.7 billion dollars well the funny thing is now they're talking

00:28:40.560 about this uh about the potential hack into the system too after the fraud story came to light so i'm

00:28:48.640 i have no basis for this other than intuition but to say that that hack seems uh mysteriously

00:28:54.500 well-timed so guys guys being uh being you know investigated now for fraud being scrutinized for

00:29:05.460 fraud for himself misappropriating those funds to his affiliated hedge fund from an exchange that he

00:29:11.820 was operating for customers and then suddenly there's a hack and and i think that it strikes

00:29:16.060 me as a little convenient to sort of say that okay the hack is something that we can blame because

00:29:21.240 that's something that's outside of all of our control when in fact at the very moment it for

00:29:26.440 two years there wasn't any report of a hack but now there's a report of a hack right when you are

00:29:31.600 being investigated so that did that did smell a little bit uh a myth to me but you know the facts

00:29:37.960 on this are changing by the day changing by the hour but the lesson i think is actually less

00:29:44.520 complicated than each of those detailed facts might you know might you know invite okay and i think that

00:29:52.040 it's it's pretty simple whether it was cryptocurrency or anything else there's just a guy who's operating

00:29:57.000 in exchange for customers and you cannot use customer money to add without their correct permission

00:30:03.320 to advance your own financial trading goals period that is a hard line and whether you're regulated or not

00:30:11.480 that is an illegal act of misappropriation of theft and then fraud and lying to the people who you're

00:30:17.600 stealing from so it actually in a certain sense has nothing to do with cryptocurrency has nothing to do

00:30:22.360 with crypto regulation the only double irony of this is that if it had actually been operated as a truly

00:30:29.200 decentralized exchange this guy couldn't have even done the thing that he did and so in a certain sense

00:30:34.980 the crypto-ness of this let alone the the morality of this is all just a deflection the smokescreen from

00:30:42.520 the essence of what was really nothing different than just an old school madoff-esque fraud and is there

00:30:48.420 any anything more than just trading into fiat currency um uh becoming in bed with ukraine and the uh the main

00:30:59.620 bank of ukraine to to trade cryptocurrency and get it into uh fiat currency so people could use it do you

00:31:07.500 think there's a money-making scam in there as well well i think there's no doubt that there is you know

00:31:13.960 in in all of crypto exchanges sort of a money laundering element to it yeah in the sense that you know

00:31:21.040 you're using the and the supposed anonymity of these exchanges to be able to you know launder money

00:31:29.160 that you otherwise would have not been able to launder but that's not unique to cryptocurrency

00:31:33.560 right you have to do that in the current fiat no so that's a bit of a deflection i know thank you so

00:31:38.560 much vivek i appreciate it uh vivek ramaswamy he is the author of nation of victims and co-founder

00:31:46.100 and executive chairman of strive asset management

00:31:49.200 the best of the glenn beck program

00:31:55.660 so glenn so stew nothing ever good starts with so glenn yeah um can i walk you through

00:32:12.880 the house do you mean my house the unfinished house it'll be finished in six

00:32:19.180 weeks you know six weeks now oh gosh that's terrible i thought it was only two two weeks

00:32:22.760 okay but i'm i know your house is never going to be finished never going to be finished go ahead

00:32:28.420 not that house now glenn yes we have a situation where let me give you the good news okay for

00:32:33.520 example prediction markets prediction say the house should go republican 95 chance 95 chance

00:32:39.640 that's pretty good that's really good although i do remember those prediction markets being very very

00:32:46.120 confident in things like carrie lake they were pretty confident now they are not confident in

00:32:50.980 carrie lake they're not now they're not no changed in fact now there's a 94 chance that carrie lake

00:32:56.200 will lose according to the markets huh wonder what happened that's different than it was probably she 0.93

00:33:01.680 probably had a 60 or 70 chance in mid to late last week i trust the prediction markets right they could

00:33:08.180 change right this could be but but but that's what they think they're confident yeah almost everybody

00:33:12.620 will tell you and you've heard this non-stop even in the mainstream media the republicans will likely

00:33:17.320 win the house yeah but can i be a little pessimistic here and walk you through what we have

00:33:21.580 is it pessimism or is it reality i think it's real i think it's reality but but but it's not all bad

00:33:31.360 news but just how confident do you feel in this scenario that i'm about to walk you through okay i'm

00:33:37.660 guessing zero okay but uh let me hear it i went through all the outstanding races okay looked at them

00:33:45.580 and i have uh i don't know what i tend to find is a somewhat disturbing situation okay so i ranked all

00:33:54.220 of the races in the best chance for republicans to win yeah yeah okay so 212 are pretty much in the bag

00:34:02.340 212 212 got to get to 218 though wow 218 that's a long way from that's easy oh there's a lot of races

00:34:09.120 there's a couple dozen races still out there i mean uh you know gosh really have to be over 220

00:34:14.540 uh to even uh because you know there's a lot of weasels in there yes yeah for sure but 218 is

00:34:21.260 control and at this point i'll take i will take 218 yes i will too all right so i've ranked them in

00:34:28.920 the old school grading system from from you know your old high school days a b c d f oh okay wow that's

00:34:35.680 harsh now none of these i would say are completely decided but i i came up with three a's three a's three

00:34:42.960 three so and they're and that that means really high according to the grading scale

00:34:49.100 these are the best of the best not sure things let me give you an example of a race that i put

00:34:54.160 as an a okay lauren bobert's race in colorado oh that's an a that's an a now as of right now she

00:35:00.360 leads by 0.4 percent with 99 of the vote in how many votes is she away actually not percentage

00:35:08.020 not percentage uh yeah that's a good question i can yeah if you give me one moment glenn of course

00:35:12.700 i can pull that up for you and i'm completely prepared to give you any detail that's additional

00:35:17.060 why are you stalling i'm giving you at any time and that's what's important about this particular

00:35:21.540 coverage i can always tell you in a moment's notice and people need to understand this wow

00:35:27.400 uh it's very very clear we just looking for the number of votes that number of votes in in that

00:35:33.800 race yeah in that race yeah i've got it at uh 1 122 thank you okay 1 000 votes away now but

00:35:42.620 they're 99 in 99 in and you'd think so basically what we're talking about there would the outstanding

00:35:50.720 vote couldn't overturn it only if there was like a recount or something else that's all right i feel

00:35:55.580 good i feel good about that feel good about that that's the type of a race i'm talking about

00:36:00.180 we have three of those that gets republicans at 215 wait we have three of those three a races that

00:36:06.720 are that good i think so there's another race in new york uh a 0.4 in new york yeah okay 0.4

00:36:14.840 that's not colorado that's new york okay yeah i mean i now when you say it that way yeah you know it

00:36:22.200 doesn't sound as good you know but right where's the third one third one uh uh oh that one's in

00:36:30.320 california california that one is not even new york that's california all you have to do is depend

00:36:39.220 on the fine people in new york and california again these are close races okay uh but i'm going to go

00:36:46.520 ahead and just give us those three just for the for the optimistic take here on the house and that

00:36:51.380 gives us gets gets us to 215 215 now seeming even more cavernous in between 215 and 218 than it did

00:37:02.420 just a few minutes ago it seemed really easy seemed pretty easy with a couple dozen races out there

00:37:07.520 right why can't we get all we need is six right right but now of the a's i only have three three so

00:37:14.080 now we're at 215 okay now you'd say what number is still passing right still a good grade still a

00:37:18.460 good grade how many races would you like to see in the b column to make yourself comfortable that

00:37:24.760 the republicans 27 27 that's a good seven yeah that's how i would feel right i always feel these

00:37:29.860 are going to go against us how many do we have two two two races that are just two that would take us

00:37:37.920 to uh two two 17 yes and you're going to be excited that here in our b's we have another

00:37:45.280 california oh good and you're going to be super confident because it's arizona is the other one oh i

00:37:52.280 hope it's maricopa county because that one's done so that's done so well yes yeah now if we assume

00:38:01.740 we have both of the a's and the b's that gets us to not 218 no which is what you need yeah but 217

00:38:12.720 217 which is one less than what you need so we don't have control there have control at 217 now may

00:38:20.260 i ask how much worse is a b from an a is it like 1100 votes okay or it should be 900 votes one race in

00:38:34.040 arizona it's a 0.2 lead with 94 of the vote in that's a b a b boys and girls i'm not being unfair

00:38:45.560 with these rankings that's a b and the only reason i say it's a b is because it was expected to be

00:38:51.080 a pretty easy not an easy win but it's a it's a purplish district but it is it was projected to be

00:38:58.600 a republican leaning district this time now of course we've seen that before in in what in in what

00:39:05.040 state in arizona in arizona good good okay and then we have a uh a race in california where there is

00:39:11.940 a six point lead currently for the republican however only 52 percent of the vote in that's

00:39:17.040 going to shrink okay as we get closer that's a b that's b but that one was leaning republican anyway

00:39:23.080 they've got the lead i'm gonna get that a b all right that gets you to 217 now you go into the c's

00:39:28.980 uh-huh now we just need one of these just need one of them and you'd like how many to be there

00:39:34.380 to just get one out of them i'd like this is a c is a c so again you're in like toss up area i would

00:39:43.560 like maybe i'm gonna shoot low five five that's a nice guess unfortunately you lose

00:39:52.700 i lose because i only have three you only have three c's now you if you're optimistic and you

00:39:58.960 take those a's and b's and you're like okay we can pick these off that's 217 you got one of these

00:40:03.740 three we still don't have the house this kids is going well going well i think mitch mcconnell

00:40:11.360 and kevin mccarthy i think they've done their job i think they've done their job they should be

00:40:16.980 rewarded with leadership they should be rewarded with new positions now here we have two california

00:40:24.700 races and an arizona in the seas okay we have what two california races and uh please tell me

00:40:33.080 it's like in the farming area of california some of them are there's some again you know i know

00:40:39.280 california we make fun of there are races that a lot of republicans do win in california yeah some

00:40:43.980 of them they're even favored in but like uh but like for example this one which is a a toss-up

00:40:50.400 uh-huh toss-up race i would say right now if you look at the projections okay was a biden plus six

00:40:58.100 district okay okay so one that biden won all right now in this environment which is not necessarily

00:41:04.600 i mean it's only slightly better for republicans maybe right we need the republican to win and of

00:41:10.780 course we still have 30 of the vote to count so we don't know at this point

00:41:13.820 oh 30 then you get into the d's wait there that was hot that was it there's three c's

00:41:21.740 uh-huh you've got some i mean you've got i i think there's there's one that's errors in arizona where

00:41:28.080 the republican leads by 0.6 percent with 89 of the vote in which i my a's i put if you're over 95

00:41:37.160 percent in and you're winning you know i put that as an a this one's at 89 in winning so a chance

00:41:43.620 certainly a chance um and it was a likely republican district going in so you'd think maybe there's a

00:41:51.280 chance that some of the some of the votes will be again you see me i'm reaching for some of these but

00:41:56.200 that's again it's close 0.6 percent lead but if we won all of the c's c's right that would give you

00:42:04.720 two to 20 which again isn't great in fact a lot of these uh these mainstream people looking at this

00:42:12.960 are like oh well we reproject 221 for republicans plus or minus four well that's a big that's a big

00:42:21.720 plus or minus yes yeah because 225 at this point would be like wow that's fantastic right 217 bad

00:42:28.580 bad bad bad yeah okay then you got three d's and then i have all the rest of them are f's

00:42:36.320 they're not gonna win they're not gonna win no well again they're all in california mostly at least

00:42:41.780 all in california and they're all districts that lean democrat and you know the democrat even have

00:42:48.120 the lead in a bunch of them i mean i just ask a quick question yes why is it that it just seems

00:42:57.100 to be in the sketchy states where they can't really count everything that might be why we

00:43:04.800 picture them as sketchy right it might be why it might be yeah it might be it might be something that

00:43:10.280 in theory you'd if as a lawmaker in one of these states you'd be incentivized to correct your terrible

00:43:16.220 practices because no one believes you're voting anymore you might not be incentivized right you

00:43:22.300 know if you're on the winning side yeah exactly so again you can see why right you would say hey

00:43:30.800 republicans are favored in this race and i would say you're probably maybe right but like 95 confidence

00:43:40.880 do you have 95 confidence in that scenario i just mapped out for you i mean i think wait wait wait

00:43:46.540 wait are republicans involved they are no i don't have any confidence in it then you know you may

00:43:52.540 remember glenn us uh saying over and over again republicans should win this election unless they

00:43:58.800 screw it up which which they always do i believe was the rest of that prediction they're very good at

00:44:07.400 that you know you got a couple rank choice voting now who would you say i'm going to give you time

00:44:12.220 i'm going to give you time okay who would you say is most responsible for that loss now don't answer

00:44:20.920 right away i want you to think is there anyone that might be responsible that maybe we should

00:44:29.240 reassign and i don't mean reassign their sex i mean reassign them to i don't know

00:44:37.300 basement duty instead of running the show who do you think is responsible for this

00:44:46.060 based on your lead in yes i believe no no don't base it on my lead i'm trying to analyze this a

00:44:53.000 little bit i believe i'm talking it through like i'm on a game show okay okay based on your question

00:44:57.540 based on my question yes do we have the do we have the game show music based on your

00:45:01.140 based on your question uh-huh i i think what you want me to say no i this is not no this is not

00:45:09.740 high school this is not high school i'm not a progressive teacher no but i think you have an opinion

00:45:14.840 on this yes i do and you would say uh i guess i'll generalize this republican leadership mitch

00:45:20.900 mcconnell but mitch mcconnell doesn't have anything to do with the house that's why i'm

00:45:24.780 no mitch mitch mcconnell and kevin mccarthy both of them both of them should go yeah both of them

00:45:31.380 should go these guys are the same guys that were in those positions under donald trump you know when

00:45:39.080 they got rid of obama they didn't it's gone that didn't get rid of oh they didn't get rid of that 0.70

00:45:43.860 did they wow well these guys they've done an awful lot and mitch mcconnell and kevin mccarthy

00:45:51.240 have got to go even if they're a minority maybe especially since they're the minority leaders 0.97

00:45:59.460 i mean after a poor showing usually what you see are repercussions for the people who led

00:46:05.800 the charge to the poor showing yes that's usually how things work in the world yes right not here

00:46:11.480 you're a you're a a football coach your team is three and nine and you're not going to make the

00:46:17.600 playoffs and you have a big a big payroll usually you get fired right usually what happens right

00:46:25.060 but that doesn't seem to be the way that these things go in washington okay here are the people

00:46:31.340 that can make mitch mitch mcconnell a thing of the past mitt romney call his office no mitt romney

00:46:39.020 is mitt romney really going to do a thing about me he loves but he should know but he should know

00:46:43.840 no this is this is i know but this is what he should know he should know that uh i'm gonna

00:46:50.720 remember what you said about uh about uh mitch mcconnell being responsible and uh since you

00:46:58.500 were wrong about that i'm sure i'm sure you're going to uh evict him and if not don't worry about

00:47:05.140 it because we have a very long memory and next election you are out remember it's only two years

00:47:11.700 um deb fisher from um nebraska roger wicker from mississippi rick scott florida ted cruz texas

00:47:23.300 mike braun from indianapolis uh from indiana uh josh holly from missouri john barrasso from wyoming

00:47:31.720 marcia blackburn um all of these people need to be reminded

00:47:39.540 that when you lose and you have put your money into an alaska race that was going to go to the

00:47:50.740 republican no matter what and you double down there really egregious it's really egregious

00:47:56.960 he cut money from arizona could have won new hampshire could have won took the money from there put it

00:48:05.300 into a race where two republicans were going against each other because he didn't why like

00:48:09.180 because he wanted to rescue lisa murkowski and why did he want to do that because the candidate running

00:48:14.400 against lisa uh lisa mcconnell said she uh will not vote for mitch mcconnell's leadership all of

00:48:23.660 these senators all of these senators know what their constituents are saying about mitch mcconnell

00:48:29.300 but mitch mcconnell has a very heavy hammer and he is trying to rush this thing through you've got to

00:48:37.660 call them today the government switchboard at the capitol is 202-224-3121 get on the phone

00:48:47.040 mitch mcconnell and kevin mccarthy let's start first with the senate because they're going to be meeting

00:48:54.340 tomorrow and then i guess voting on wednesday we have a very short time period mitch mcconnell must

00:49:01.320 not be the majority leader

00:49:03.640 you

The Glenn Beck Program - November 14, 2022

Best of the Program ｜ Guest： Vivek Ramaswamy ｜ 11⧸14⧸22

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