Best of the Program ｜ Guests： Carol Roth & Ben Spell ｜ 4⧸11⧸23
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Summary
On today's show, we have Carol Roth on the show to talk about the Fed Now program and why it's a scam. Also, Pat Gray joins the show and talks about his new book, Dark Future.
Transcript
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Hello, Stu. Hi, Glove. It's a great Tuesday and the traffic is looking good. On the podcast
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today, we'll have outdated traffic that will make no sense to you whatsoever on the sevens
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and the fours. And we'll make sure to limit it to streets you don't know and areas you
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are not. Welcome to the podcast. We're glad that you're here. We got a lot to talk about
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today. Gosh, who do we have? We had Carol Roth on today. We had somebody on from Michigan
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that is going to tell you the crazy story of what's going on with the Chinese communists
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in Michigan and how you can help that. More on the government in our lives lying to us,
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the truth on what the Federal Reserve is doing, not only on digital currency, but with their
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FedNow program. They're freaking out a little bit. And I always find that as a bonus in any
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You're listening to the best of the Glenn Beck program.
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Welcome to the Glenn Beck program. By the way, uh, my new book comes out in a couple of months.
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I would pre-order now to make sure you get a hard copy of it. I'm also, uh, recording it. I was
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thinking about it today. I think I'm going to think I'm going to put a, put a couple of rays of sunshine
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in the book in the audio version. Uh, it is, uh, uh, it's called dark future and it is part two in the
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great reset series. You can get that now Amazon or wherever you buy your books, just put an order in
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it for it. Now, um, dark future by Glenn Beck. Sounds like a happy, happy book. Um, all right.
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Pat gray is joining us from Pat gray unleashed, man. It does sound happy. It does. It does dark future,
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dark future. That's fun. That's fun. Well, it does have a happy ending. Oh good. It does. Okay. You
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know, if, if we just learn these things, we can stop it. And there are some things that are going on
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that we are stopping by the way, we talked about the fed now program. Had you ever heard of the fed
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now program before this program? No. Okay. I don't think so. I mean, there's, I'm sure there
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were some people online that were way ahead of this, but far as a mass program, I think we were
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the first to bring it up. Um, they have the, uh, federal, that has the federal reserve a little
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upset, a little upset yesterday. They tweeted five tweets, uh, basically saying what said
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now has nothing to do with control. Just helping money go one place to another faster. That's
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all you crazy kids. I would have gotten away with it too. If it wasn't for those kids in
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the van with that stupid dog, um, the fed now service is neither a form of currency
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nor a step toward eliminating any form of payment, including cash. And it just talks
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about how the fed just helpers. Okay. So we're at that first place where it's like
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conspiracy theory. And then the next place is like, well, there, there's going to be
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some occasions where, you know, a fed coin might be, and then it'll be like, yeah, okay,
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we're doing it. And then everybody will be like, we should kill the people that don't
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want the fed coin. I mean, just follow the, anyway, uh, we'll have more on that coming
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up in our number three. Now you remember when the FBI said we're definitely not targeting Catholics.
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Do you remember who is the, who's the head of the, just Merrick Garland when he was testifying,
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he's like, I have no idea who wrote that list. I have no idea. He never does. I'm going to look
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into it though, for you and I'll get back, find those answers, find those answers back and tell
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you about that. Right. And if you ask me again in the future, I'm going to say we've already
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discussed this and there was no, there was no targeting of Catholics. Okay. Um, Hey, unfortunately,
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it looks like Jim Jordan and the house sub, uh, select subcommittee on weaponization of government
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stumbled on some information from an undercover employee sought to develop sources, including
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clergy members and church leaders inside Catholic churches in Virginia. So I guess Merrick Garland
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would just say, well, this undercover employee, he was a rogue employee. He was just doing this on his
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own. According to Jordan, the FBI's plan called for the Bureau to engage in outreach to mainline Catholic
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parishes to make congregations aware of the warning signs of radicalization and to enlist their
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assistance to serve as suspicious activity. Trip wires. I'm not just a member. I'm a trip wire.
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Uh, the FBI proposed that agents reach out to Catholic parishes to develop sources among the clergy and
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church leadership. Now they're definitely not going to surveil. Okay. That's not what they're doing.
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That's not what they're doing. They just love Catholics and like to be around and just talk to them.
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Oh, that's nice. Uh, they're hoping for the pancake breakfast in the basement and their bingo lovers
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Tuesday nights. You can't, that's when you kill people because Tuesday nights, all of the FBI,
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they're all playing bingo at Catholic churches. Uh, so we got that going for us. Now there's also
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something else that is definitely not happening, but it is the newly exposed section, uh, of the FBI
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domestic terrorism reference guide. Now they don't know who printed this, but there's some errors in
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there, uh, suggest that the use of internet slang words like red pilled might be suggestive of a
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user's proclivity, uh, for involvement in racist, involuntary celibate and or fascistic extremists.
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What's a thing that people on the right say that we can say is dangerous. Show me red pill.
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People who say taxes should be slightly lower are dangerous people. Show me extremists.
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It's so bad. There's no effort put into these things anymore. Okay. So I mean, and look,
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they are looking for racially or ethnically motivated, violent extremists nowhere in this,
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or is anything about BLM, you know, or disband the police or anything like that. Of course not.
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So here are the key terms that some on the right might use. Now I look at some of these and I'm like,
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come on, I've never even heard of that. But then again, I'm not an extremist, but I am in a room
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surrounded by them. Um, you could hear that. Um, red pill. I mean, that's like common, right?
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Everybody knows. I don't know the white pill. I don't know all the different. There's a lot of
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pills, a lot of pills on the internet right now. And I can't pop and I'm like crazy. I cannot keep
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tracking. Right. I know red pill and blue pill because it was in the matrix. Everyone knows that
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though. I will say if you would have asked me two years ago, which one was which, I don't think I
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would have remembered, but now it's just like, everybody seems to say this all the time. So
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you now have to know that red, again, red pills, the one where you get the truth, right? Yeah. And
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blue pills, you wake up and you don't go back. See, I still don't know that. Yeah. Blue is the one
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you go back to sleep. I wouldn't know it either. I mean, it's just, just internet culture at this
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point, but that's the only reason. And I just, I just, I just want to point out that Stu did say
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everyone he knows, knows red pill and blue pill. I, I hang around people in my, in my circle of
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friends. They don't know. Pat was cleared. Although maybe to, to, to, to clear myself a little bit
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here. I know Pat and Pat didn't know. So my, my, my, because you are an FBI infiltrator trying to flip
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Pat. Anyway. Um, okay. So here's the Catholic masses have you been to 44? Exactly right. Okay. So next
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word, does anyone know what a Chad is? Only because I read the article this morning. Do
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I ever heard of it? It was the thing hanging in the, yes, that's where I would have 2000
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election. It's a pregnant thing, right? But it's not, it's not that pregnant Chad. It's
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a very sexy man. It's a race specific term used to describe idealized version of a male
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who is very successful at gaining sexual and romantic attention from women in cells.
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Now that one I've heard of. Okay. What is that? Uh, involuntary celibate. Yes. Yes. He is.
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Which is just someone who can't, you can't, you can't get, have sex with women because they're
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not interested. They're not interested. It's like what every teen angst movie was made. Like
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it was like American pie was about the same group of people, but now they're dangerous.
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Correct. So an incel, uh, unsuccessfully competes against Chad's for attention against Chad's
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and Chad, like why are they called Chad's? Do we know? Is it just because the name Chad
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like invokes? Chad Everett was such a sexy man from back in the day. Chad Everett.
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With a medical something or other. Medical center. Medical center. Medical center. Yeah. Okay. Uh,
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next one, by the way, Karen is not on this, but I think Karen should be put on that. Okay. Karen.
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What's a Karen. Karen is something like a irritating woman. See, this has never happened like in,
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in, you know, the history of the language they've never, new generations have never come up with new
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words. It's never happened. Um, look smacking. No, no, sorry. Looks maxing.
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Okay. Have you ever heard of it? No. Okay. The process of self-improvement with the intent to
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become more attractive. Now I don't think that it's the conservative that is all worried about all
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of this stuff. I think that might be a human thing. Looks smacking, maxing, normie or blue pill.
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Okay. Yeah. That's, we, we know that one. Derisive terms used to describe normal people,
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people who aren't awoken to your incredible knowledge about X, Y, or Z. Yes. Stacy. What's a Stacy?
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That is the female version of Chad. If I'm not mistaken. You are exactly right. Show me
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Pat's a terrorist. Uh, okay. Uh, you win. Now here's some others. These are key terms.
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Uh, that domestic racists. I'm stuck on Stacy. Stacy seems like a very odd choice for like,
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yeah, I don't know where that came from. Because it's a white name? Because it's a white name.
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Well, but it also seems like, is it a super common current name? Like, I feel like it's
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like a name that was popular when I was a kid. Right. But neither is Karen. Yeah, I guess.
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But that's true. You would think that Stacy, because Karen is supposed to be an old fart that
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just doesn't. So Stacy. Idealized female, you'd think would be in what, her 20s? I mean,
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as Don Lemon told us, he passed your prime past like 23, 24. Yeah. So. And he knows. And he knows.
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Don would know. He has incredible knowledge of the female body. Yeah. Um, but. And it's icky. All of it
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is icky. Is Stacy related to Stacy's mom? Who's got it going on? Maybe. I don't know. I don't know
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that reference either. She's all that people have wanted. And they've waited for so long. Here's
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another one. Here's another one. It could be. Could be. All right. Now I've heard of based.
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I would have to say, use this in a sentence. A lot of people say it like that people who are on
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Twitter a lot say it. And, uh, and I, what do they say? They say, oh, that's based. And meaning
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that I think it's like, like playing to the base of the, you know, like of the movement,
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like, uh, like no, not, not forgiving political opinion. Racists use white years old talking
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like this white conservative racist. I mean, I feel like a thousand. That's amazing. Use
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that's what they're saying. Okay. They use the term to refer to somebody who has been converted
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to racist ideology or as a way of indicating ideological agreement. So. Right. Like, you
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know, Hitler's nuts. That's based. That. No, wait. No. Hitler's great. That's based. Right.
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Hitler's nuts is, is something that blue pills would say. It seems to me to be like, whenever
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I see it pop up from people, whenever someone takes like what would be described as like
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an anti-woke stand, right? Like, and it goes, an anti-woke stand can go anywhere from, you
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know, something that's good policy that, you know, it makes a lot of sense all the way
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to something that goes too far. People would, would say that's, you know, that's based because
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it appeals to the base of the movement. I don't know if that's actually the right description
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of it, but that's how I see it used. So we've heard great replacement, but I learned
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that from the left. Oh, the great replacement theory. Yeah. Okay. Jews will not replace
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us. LARPing. LARPing. I think I know. This is fascinating. This is like a whole. I think
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I know LARPing because I think I've heard my son say that in reference to weirdos who go
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to the, like, you know, medieval festivals with, you know, wood swords. Seems unlikely
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that's what it's. No, it's live action role playing. Okay. But they use it online to deride
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individuals accused of not being as extreme or in possession of skills or other valued
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characteristics they claim to have. Okay. So how would you use that in a sentence?
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It's weird. You do. Pat's a radio professional, but he's really just LARPing. But what does
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that mean? It would mean that Pat is pretending to be, he doesn't really have the skills, which
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is an absolute true example, but I just, I'm throwing it out there. And the last one, of
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course, is red-pilled. Only race-motivated individuals that want to create terror and
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overthrow the government will use red pills. Only mega-maga Republicans have ever used that.
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Racist and anti-Semitic and fascist believers will use the word red pill. According to the
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FBI, I'm just telling you what the law is looking for. It is entertaining that the main reference
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here you're talking about comes from a movie directed by now two trans brothers.
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That's right. It's weird how that all came together. Yeah, it is. It is.
00:16:43.180
Welcome to the Glenn Beck program. I want to introduce you to somebody I think you may have
00:16:48.000
met once maybe in the, I don't even know how many years he has worked for me. Maybe
00:16:52.380
15. He is the undersung hero of this program. He is the program director for the Glenn Beck
00:17:00.240
program. He is actually the guy who, when I was about to be fired in 2001, it was actually
00:17:08.380
end of 2000. After my first year, he said to me, why does your show sound so different than
00:17:16.180
it did when you first got here? And I said, cause I'm trying to, you know, make everybody
00:17:20.880
happy. I'm trying to do what the program director wants and what the, you know, the vice president
00:17:25.040
of programming wants. And, and it's just kind of, it's not going anywhere. And he said, well,
00:17:31.260
you know, they're going to fire you. Cause I said to him, they're going to fire me at the
00:17:35.140
end of the year. And he said, they're going to fire you. So just do what you want to do.
00:17:41.000
Do the show that you said you were going to do. And you started doing, and I did. And
00:17:45.860
we were number one within six months. And, uh, Dom has, uh, worked for me for a very long
00:17:57.420
Well, you are responsible. I think really in many ways for me being on the air and you
00:18:02.220
always are giving me the absolute truth, even when I don't want to hear it. And I appreciate
00:18:07.520
that. Um, so Dom, I wanted you on because you're a Michigan resident and you're following
00:18:13.580
this EV battery plant in Marshall, Michigan, which you are, I mean, I know you, you are
00:18:21.680
not an activist, uh, just like I'm not an activist, but you've become one, um, over this
00:18:33.160
Well, um, I live in this community and, you know, now there are two different projects
00:18:38.780
going on. The one, uh, that you just mentioned in Marshall is actually a Ford, um, partnership
00:18:43.620
with the Chinese. And that's a separate issue. I live in Mecosta County where, uh, Goshen,
00:18:50.080
uh, which is fully Chinese owned, uh, is attempting to, uh, insert a plant here paid for by our tax
00:18:57.160
dollars, by the way, $715 million of our tax money is being used to subsidize it. It's
00:19:02.800
subsidized this in the middle of a little town. Um, it's actually green township, uh,
00:19:08.960
which is just, uh, north of big rapids in the community that I live. So, you know, one
00:19:15.400
of the great things about working for you is, you know, with technology being what it
00:19:19.220
is, you let me live where I want to live. We moved to this community several years ago
00:19:23.060
because we liked the area and small town community. And if you were to tell me that we'd be involved
00:19:28.820
with a battle like this, I would, I wouldn't have believed you. Uh, but literally we're fighting
00:19:34.380
to keep the communist Chinese out of our little County here in Michigan is crazy. Um, this company
00:19:41.220
we found out, and I've been watching the press reports on this. They'll say every time they'll
00:19:46.740
say conservatives say, or a conservative newspaper says no, they're, they're actual, uh, uh,
00:19:56.700
I don't even know what you would call it. They're, they're founding documents for a comp,
00:20:01.100
this company. It, they say that they, they are part of the communist party. They obey the communist
00:20:08.860
party rules, and they're even supposed to start little communist party, uh, parties, you know,
00:20:16.420
bringing people together and trying to get them to join the communist party.
00:20:20.700
It's worse than you can imagine. Um, so the more that we dug into this, the more it stinks.
00:20:27.500
Let me give you a couple of examples. Um, you are referring to their articles of association,
00:20:32.380
which are on their website. And it clearly outlines that basically, um, they have a commitment to carry
00:20:38.220
out communist party activities in accordance with the communist party of China. It says it's great on
00:20:43.720
their website. And when we were told initially that Volkswagen is the majority shareholder,
00:20:50.040
it's a great talking point, but in their own shareholder meeting minutes from January,
00:20:54.620
they state that after 36 months, the Volkswagen investment will adjust so that the Chinese
00:21:01.640
founders will always retain. And this is in their words, at least 5% more ownership than Volkswagen.
00:21:09.060
It's almost as if like, it's a temporary ruse to get the talking point that it's not a CCP run
00:21:14.660
company. And then after 36 months, that surprise, gotcha. By the way, one of the founders is a man
00:21:21.840
named, uh, Lee Chen, who you can find on the world economic forum website, where he brags about his
00:21:30.120
membership, uh, in the CPP CC, which is the Chinese people's political consultative conference.
00:21:36.240
And that's the central part of the CCP United front system. They don't even hide it. And I'm not
00:21:41.640
surprised because, you know, governor Gretchen Whitmer, uh, was just, uh, at, at the, uh,
00:21:47.640
world economic forum, you know, so she pales around with these people.
00:21:51.900
So she has given $715 billion in tax money to a Chinese company to make batteries. I don't know
00:21:58.680
why we wouldn't do that, you know, with an American company. They're trying to say, Oh no,
00:22:03.860
you'll feel better because we're partners with the company that was started by Hitler. Uh, okay.
00:22:12.760
And the, the, the worst part of it now is this is eminent domain that is going on. They're trying
00:22:20.080
to buy the property. And from what I hear, it's real Gestapo like tactics, uh, that the, uh, that
00:22:28.600
they're using to, to, uh, buy the property. Is this true? Yeah. Well, here's what's happening
00:22:33.960
here. Um, so you're talking about the, the Marshall situation. They actually are starting
00:22:38.920
the process of eminent domain. As I understand here in the Costa County, they haven't started
00:22:44.260
that yet. What they're doing is going door to door. And we've received reports from whistleblowers
00:22:50.020
that have said that, um, you know, a man shows up at their door, presents them with an offer
00:22:54.900
that actually is quite generous. They're offering way more because of course they have our tax dollars
00:22:59.340
to play with. So, you know, it's basically unlimited resources and they're going and overpaying for
00:23:05.080
these properties, but they make them an offer and they present them with a document that several
00:23:10.520
hundred pages, and they're told you have five hours to sign this. And if you don't, the offer is
00:23:16.760
rescinded, uh, within that documentation, um, you know, there's non-disclosure agreements,
00:23:23.120
you know, uh, gag orders and all that. And these people don't even have time to seek legal counsel.
00:23:28.640
Many of them are elderly farmers. They don't, they don't know what they're signing. They're scared.
00:23:33.220
And they're also told that if you don't sign and you don't take our offer now,
00:23:37.600
your property is going to be worthless because there's going to be a factory next door.
00:23:41.300
So either you sell it to us now at this inflated value, or you're not going to have anything worth
00:23:46.440
selling in another couple of years because we're going to put this factory in and we're going to widen
00:23:50.100
the road and take your property. And, you know, some people have told them to go pound sand.
00:23:55.660
Um, we do have a copy of a document that, um, somebody that told them to pound sand was presented
00:24:01.540
with a second offer that wasn't quite as ridiculous. Um, but it was still, you know,
00:24:06.580
still had a gag order in it. So the other thing that's gone on recently is green township. You know,
00:24:13.240
in Michigan, if you don't have your own local zoning, uh, planning board, you default to the
00:24:21.100
county. Well, green township just formed their own zoning board to take it away from the county
00:24:27.480
level control to green township. Um, of course that's all just to, just for it to facilitate this
00:24:35.380
Goshen, uh, thing. So, you know, this, this is all one-sided. The other interesting thing is one of
00:24:42.020
the board members actually owns land in the targeted area. Um, the midwesterner is a local,
00:24:48.360
uh, uh, regional, uh, uh, online, um, um, news magazine. And they just, uh, leaked the story about
00:24:55.880
that today. Yeah. One of the board members, now this guy had to recuse himself from some of the votes,
00:25:01.060
uh, recently, but you know, this is, this is a direct conflict of interest.
00:25:06.240
So, um, is, is there enough pushback? I know I saw that one of the town meetings,
00:25:13.400
uh, was closed to the public. They said, you know, there are so many threats, it'll get violent.
00:25:19.380
And, uh, so they, they did it all online. Uh, is that your township?
00:25:25.820
Yeah, that was, so that was April 5th. Yes. And they had an informational meeting that was
00:25:31.940
originally going to be at the township hall. Then they moved it to Ferris State University,
00:25:35.960
and then when they heard rumor of, you know, hundreds of, uh, of protesters showing up,
00:25:40.700
they just decided to go virtual. And get this, the township supervisor said,
00:25:46.540
they're using Antifa tactics. It's laughable. They compared our protest to Antifa
00:25:54.180
and said, well, you know, hopefully this isn't another peaceful protest.
00:25:59.500
It's, uh, yeah. So what do you, what do you need in your town to, to stop this? How, how can the rest of
00:26:10.980
the country stop this? This is insane. And it, it is happening around the country. We must ban China
00:26:18.680
from buying land and doing business here in America. They ban us. They ban us. By the way,
00:26:26.340
anybody who's invested in a Chinese company, no, I invest in, uh, Asia and I've got some investment
00:26:32.060
in some companies. You really don't. That stuff is going away so fast. It is a shell corporation.
00:26:38.880
It's an offshore, um, uh, shell corporation. All of your money goes to that corporation.
00:26:46.700
And then you supposedly have shares that's against the Chinese law. The minute they close this down,
00:26:54.280
you're going to lose all your money. Okay. It's going to happen. It's going to happen. Um, but
00:26:59.640
they're still allowed to buy stuff here. We've got to stop it. How can we help you?
00:27:07.060
So we're having a rally and fundraiser on April 22nd at the farm directly across the street from
00:27:14.520
the proposed site. This is one of the concerned citizens by the name of Lori Brock that owns this
00:27:19.340
farm. It's a majestic for regions horse farm, and it's on 19 mile road and big rapids.
00:27:25.580
What we really need is money because, uh, obviously there, there are legal costs.
00:27:30.780
We have a recall effort to try to recall the board. Um, there's mailers that, uh, you know,
00:27:35.940
we need to get out to keep the community informed and the audience can donate right now. If you want
00:27:41.620
to help, uh, try to keep this Chinese, uh, CCP owned, uh, plant out of the U S. Um, if you text the word
00:27:49.640
no go N O G O to 801, 801, that's no go to 801, 801. Um, you can donate our friends at stand up
00:28:01.740
Michigan have set this up to, uh, to help us. They've been a tremendous help to us. Um, the folks
00:28:07.760
at stand up Michigan, as you know, where, uh, some of the people involved with, um, opposing the
00:28:12.580
lockdowns and the masking of kids in school here in Michigan, it's a great organization and they've,
00:28:18.460
they've stepped up to help us. Okay. So make a donation, just text no go N O G O to 801, 801.
00:28:25.900
And when is that rally? The 20 22nd of April. And, um, that's next weekend that there's even a
00:28:32.260
special video message from, uh, from someone we know and love. Hi, I have heard that. Um, but I,
00:28:39.520
uh, it might be better if that person just got on a plane and joined you. Well, I would love that.
00:28:46.320
If you're willing to do that, we would love to. No, I, no, I was saying it was ever cutting that
00:28:51.080
video. Uh, I'm going to try. I mean, I, I am slammed, but I'm, I will, uh, I'll try to do that.
00:28:58.780
I will at least be there virtually with a video, but I, uh, I hope to actually attend
00:29:04.160
myself. Well, we really appreciate all your help, but, uh, it means the world to us.
00:29:09.280
Thank you so much. God bless you guys. God bless you. My friend up in Michigan. These are just
00:29:14.680
poor, regular farmers trying to stand up against communist China and their own state. No go N O G O
00:29:23.620
8 0 1 8 0 1. The best of the Glenn Beck program.
00:29:30.680
Carol Roth, the author of the war on small business, which introduced her to me at first.
00:29:36.580
She is a former investment banker. Um, she is somebody who, oh, she, she sewed her wild oats on
00:29:45.760
wall street and then she found Jesus. And now she concentrates on main street. Carol Roth,
00:29:53.260
welcome to the program. How are you? Glenn? Good to see you. Good to see you. By the way,
00:29:57.860
she has the new book coming out about the same time. Mine, a buy them together. If you're going
00:30:02.140
to, if you're going to buy them, they make great companion pieces. Um, her book is you will own
00:30:08.100
nothing. And it releases this summer along with mine, which is dark future by them both together.
00:30:14.400
Um, Carol, I want to talk to you about yesterday. The fed is freaking out. Um, and let me just
00:30:23.120
give you the fed FAQ. They, they, five tweets of this, the fed now replacing cash. Is it a central
00:30:29.980
bank digital currency? Fed now it is not related to digital currency. Fed now is a payment service
00:30:35.320
for the federal reserve. It's making available for banks and credit unions to transfer funds.
00:30:43.140
This is absolutely true. There's been a lot of, um, misunderstanding and misinformation
00:30:47.440
and, you know, rightly so nobody should trust the federal reserve. They have absolutely decimated,
00:30:53.700
um, you know, the, the purchasing power of the dollar. They have been a conduit to help,
00:30:58.720
you know, non merit based inequality. And so it is true. Fed now is an enhanced payment service.
00:31:05.740
If you think of things that you might use already, ACH clearing, um, the fed wire, when you do a wire
00:31:13.340
transfer, there are these, these services that help facilitate payments. So in other words, if you
00:31:18.340
have, if you have to go to a, uh, what do you call those, those check cashing places, payday loans,
00:31:24.280
yeah, payday loan, you go in, you bring them the check, but it takes a couple of days before it
00:31:29.760
clears. You can't go to your bank. You know, if you're somebody who doesn't have the money to cover
00:31:34.000
it in your bank and get the cash because it takes multiple days to settle. So you go to the payday loan
00:31:38.980
and they give you that advance because there's this differential and settling. It's also,
00:31:43.380
you can only do the banking, you know, during business hours. Now this allows 24 seven payments
00:31:50.160
instantaneously. And it's something that is actually important in terms of the arguments
00:31:56.440
against CBDCs because a central bank digital currency, one of the reasons they said we needed
00:32:02.740
it is because we didn't have this instantaneous settlement. So you have to differentiate from the,
00:32:08.380
the, the, the settlement architecture, that the payment system, the way that the banks
00:32:12.640
clear between themselves and the actual currency. And I think that not to say that we should not,
00:32:19.760
um, lighten up on the fed because again, they can't be trusted. The government can't be trusted
00:32:24.540
with any of this, but we need to use the right language. Otherwise we're not going to be taken
00:32:29.340
seriously. It's going to be a boy who cried wolf scenario. And we get to the actual issue. We need to
00:32:34.600
be able to address that. So we have to differentiate the payment system from the currency itself,
00:32:40.520
not to say that they can't possibly be used together, not to say that we shouldn't keep an eye
00:32:45.420
on it, but we need to understand that these are two different things. And the one that is really
00:32:51.760
scary is changing the currency and giving the United States government and the federal reserve
00:32:57.520
full control over the currency. Okay. So, so let me restate it in a different way. So we're both
00:33:03.920
on the record here and people understand the, um, the new fed now system is merely a structure of
00:33:11.960
payment. Now I would phrase it maybe a little stronger than you did on, uh, when you were talking
00:33:18.420
about, this is the system that, um, is the reason why so many people with Bitcoin say we need
00:33:25.800
Bitcoin is because of the instant settlement that is going on. To me, that does take away the
00:33:32.740
uniqueness of a digital currency and puts the fed closer to a digital currency. However, it is needed.
00:33:41.540
That structure is needed and they could stop there and you'd be fine, but they have, they have
00:33:47.520
such little credibility and all of the federal government. I just want to just want to repeat
00:33:54.820
this pattern because every time you see something, this is the pattern digital dollar, it goes like
00:33:59.780
this, but you can include, you can put anything where the digital dollar is. We're not using the
00:34:05.840
digital dollar. Okay. We're using the digital dollar sometimes. Okay. The digital dollar is good
00:34:11.820
and people should use it. You must use the digital dollar. That's everything that our government has done
00:34:20.020
falls into that cycle. So they're trying to discredit the fed. Now people that are saying
00:34:27.280
that's digital currency, which it is not digital currency. Um, they're trying to use this to
00:34:33.460
discredit people. So they get off the digital dollar. And that's why you're right. When you say
00:34:39.700
we have to be exact in our language. Yes. And the other thing that people have to understand when
00:34:45.100
they, the, the, the fed comes back and say, Oh, you know, we're not really doing anything with
00:34:48.900
the CBDC. Well, that's completely untrue. Right. Uh, I think it was November of last year. Maybe it
00:34:54.860
was August. It's been, it's been a long year. Um, but they came out with a program, the New York fed
00:35:00.680
with major financial partners, and they did a pilot test of a CBDC. The G seven also came out with
00:35:09.200
principles for retail facing CBDC is because that, that, that line that you talked about Glenn,
00:35:15.120
how it starts and where it ends up, you know, first they're going to say, well, we're only going
00:35:19.100
to use the CBDC just between the banking system. It's not going to be consumer facing. So you don't
00:35:24.820
work, worry about it. Then you go, Oh, that's not a problem. Well, go ahead and do that. And then
00:35:29.960
they move it to retail facing, but there's no reason for the G seven to come out with retail facing
00:35:35.960
CBDC principles. If that is not something that they plan to do. So the idea that they're saying
00:35:41.360
we are not planning, this is absolutely untrue. And that's why we need to be laser focused on the
00:35:47.800
currency aspect. Okay. Um, Bitcoin, every time they take a move against Bitcoin, it seems to me like
00:35:55.580
they're going to shut all this thing down, all of this down. Um, they're trying to get rid of all the
00:36:00.420
exits for Bitcoin, uh, right now, but Bitcoin is up to 30 grand for the first time since June.
00:36:08.160
Um, so it's gaining steam. Gold is going, is gaining steam and the dollar is getting crushed.
00:36:16.560
Um, and if I were, I said this and I'd love your opinion if I were an ally, but not like one, you know,
00:36:24.000
not like great Britain, um, that has so much more riding on it, but I have been taking the U S
00:36:30.340
dollar in for the, for the use of that as my, uh, as my gold in my central bank and I've been using
00:36:38.600
it to buy oil and everything else as China offers another deal and Saudi Arabia offers another deal.
00:36:46.520
I'm penalized as when I hold that inflation kills me, kills me. And I can't imagine being a country,
00:36:57.980
a smaller country and saying, you know what, looking at the situation, I'm going to stick
00:37:03.400
with America because they look like they're on the right track. I mean, we're making so many bad
00:37:09.400
moves. I think we're encouraging them to get out of the dollar. Absolutely. I just did a piece for
00:37:15.800
the blaze on yes. King dollar is dying and it's shepherding a new world financial order. And it's
00:37:21.460
exactly this. When you have commodities like food and oil that are priced in dollars, and then you're
00:37:28.140
not keeping the dollar as good as gold anymore. And, and all of a sudden the dollars don't buy as
00:37:34.060
much as they used to for these countries, whether they're a big country or a little country, it
00:37:39.140
threatens their national and their economic security. So we have created the reason why they are looking
00:37:46.980
to go away from the dollar. Nobody's ever liked the fact that, you know, we were the world's reserve
00:37:52.380
currency, but we held it stable. So they decided to play along. Now that that is no longer the case,
00:37:59.500
they cannot rely on this. This is a national and economic security issue for them. And that's
00:38:04.740
why you've seen some of the MENA, the Middle East, North Africa region countries decide to move away
00:38:11.100
from the dollar in recent years. That's why you're having all these brook countries talking about
00:38:15.500
potentially creating a different currency and settling in, you know, maybe things like yuan,
00:38:21.460
which by the way, you know, you would say to yourself, well, why would anybody want a communist
00:38:25.740
currency? Well, if you've been paying attention, China has been loading up on gold and they have
00:38:31.400
two different yuan. They have the internal ones that the people inside of China use. They have the
00:38:36.200
one that they use for settlement, which by the way, they're offering gold settlement behind it. So,
00:38:41.660
hey, at any point in time, if you don't want the yuan, you can come and get the gold because
00:38:46.740
everybody wants a gold standard. So, Carol, as you look at this, we have lost seven percentage points
00:38:54.880
of the U.S. dollar being held by countries. That means that we're having trouble selling our debt
00:39:03.020
because there are fewer buyers now. And I've said this is the way it was going to happen.
00:39:08.060
And I've been called a conspiracy theorist forever for just thinking logically.
00:39:13.220
Okay. At some point, you know, everybody's like, we're still the best in the world. Yeah,
00:39:18.580
but we're the best in a heap of garbage. Okay. And just because, just because we're on the top level
00:39:27.240
of the garbage doesn't make us not garbage. And as soon as somebody sees weakness, they will say,
00:39:35.020
you know what, let's do something else. And if you start to move people that way,
00:39:40.800
your bigger countries will start to divest themselves of the U.S. dollar and they won't
00:39:46.960
get rid of all of it until there's, you know, like a margin call until people are like,
00:39:52.580
I got to sell this right now. And everybody will panic and flood the market. Does that seem reasonable
00:39:59.300
to you? Yeah. So one of the benefits of writing a book, which is very painful, but, you know,
00:40:05.140
for the research that I did for You Will Owe Nothing, and I know you've been doing for Dark Future,
00:40:09.820
you get to learn all these statistics. So I've actually pulled one up. So in 1940, when, you know,
00:40:15.940
the British pound sterling was the world's reserve currency before the U.S. dollar was. In 1940,
00:40:20.860
the British pound sterling was 68.9 percent of total reserves and the U.S. dollar was 27.9 percent.
00:40:29.860
Twenty years later, by 1960, that flipped. 61 percent of the global reserves were the U.S. dollar
00:40:36.920
and 35 percent were the pound sterling. Now, another data point, if you look at what China's
00:40:42.460
been doing in terms of being a holder of treasuries back there, I think their peak a few years ago was
00:40:48.940
$1.3 trillion that they held. They were the number one ahead of Japan. January 2023, reported by the
00:40:56.920
Treasury, China now holds under $860 billion worth of treasuries. So the implication for this is that
00:41:05.100
this is the way that the U.S. government finances the debt, right? They issue securities, they issue
00:41:12.520
debt securities, and that's how they pay for their deficits. If you have countries around the world who
00:41:18.260
no longer want to buy securities, and oh, by the way, they're flooding the market with what they
00:41:23.180
have, so there's plenty of supply. Who's going to be there to buy our debt in the future? There is
00:41:29.900
going to be no buyers, which means the only buyer available is the Federal Reserve slash U.S. government.