Best of the Program ｜ Guests： Gov. Kristi Noem & Rep. Thomas Massie ｜ 3⧸13⧸23
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Summary
Vivek Ramaswamy is on the Glenn Beck show to talk about all the financial stuff the government is doing to make sure we are prepared for a possible financial crisis. He also talks about the situation with Silicon Valley Bank and how they are dealing with it.
Transcript
00:00:00.000
Hey Pat, do you think tomorrow we can maybe, I don't know, not do so much death and destruction?
00:00:25.360
We go over all the financial stuff and what the government's doing.
00:00:29.320
And it's, you know, it's just another day on the Glenn Beck program.
00:00:35.580
Very recently, we shot down a Chinese spy balloon.
00:00:40.300
But one thing it definitely means is that our relationship with China isn't getting any cozier.
00:00:46.540
We talked about the, you remember the lasers that were over Hawaii that came from space and quote,
00:01:00.880
It has nothing to do with hypersonic missiles in China.
00:01:05.900
Anyway, I was talking about us relying on overseas for 18 out of the 21 critical antibiotics and just only 72% of active pharmaceutical ingredients.
00:01:16.880
So if things get bad, you know, with China, don't worry, don't worry about, I mean, hey, they lived.
00:01:24.600
Well, I was going to say a long and happy life, but they lived, you know, in the 1800s.
00:01:33.220
Great way to keep yourself prepared for the worst.
00:01:35.160
It's a pack of five different courses of antibiotics.
00:01:37.760
You can use them to treat a long list of bacterial illnesses.
00:01:41.100
It's a great way to be ready for shortages or just even a vacation out in the woods or whatever.
00:01:53.560
Enter the promo code Beck at checkout for a discount on your order.
00:02:16.100
They put together a little video here on the timeline and how things began with Silicon Valley Bank.
00:02:24.420
Before we can even talk solutions and what to do, we have to understand what caused this and what happened.
00:02:33.940
When money came gushing in during the COVID crisis with all of the stimulus money, Silicon Valley Bank put a lot of that to work in what were at the time high yielding assets.
00:02:55.460
Today, in order to attract and maintain deposits, you have to pay up.
00:03:06.400
And they are all seeing their bank deposits go down.
00:03:10.680
The most likely direct impact is just on the tech community itself, which has been battered by valuation.
00:03:16.120
But a lot of these companies have relied on this particular bank for liquidity.
00:03:20.520
They'll have to go elsewhere and expect some dislocation from that.
00:03:26.200
Silicon Valley Bank is unique because they were always willing to lend against securities that haven't come public yet.
00:03:38.100
So they are unique, just like Silvergate was unique with crypto.
00:03:43.420
But I do think that they're big enough to be more like what Art Cashin said.
00:03:46.660
It does feel like Penn Square, maybe hoping to be contained before it gets caught in Illinois.
00:03:51.660
I just wanted to share that what I'm hearing is that, in fact, they are moving very quickly in terms of deposits moving out, making it very or more difficult for any buyers to really assess and consider a purchase of the bank.
00:04:05.580
Perhaps a bit too early to say, but nonetheless, it would already appear that those attempts to potentially sell this company.
00:04:13.080
And again, there were a lot of interested buyers based on the franchise, but the attempts to potentially sell it certainly seem to be running into the reality of the moment, which is it's hard to buy something when all the deposits are fleeing.
00:04:28.380
And so, you know, again, we have to, I think the market has to prepare and prepare for the possibility that there will not be a sale.
00:04:39.300
And then you can leave it to your own imagination as to what that means.
00:04:42.620
We have to assume the government regulators are already in there as well.
00:04:47.940
Silicon Valley Bank Santa Clara was closed today by the California Department of Financial Protection and Innovation, which appointed the FDIC,
00:04:56.520
the Federal Deposit Insurance Corporation, as the receiver to protect depositors.
00:05:00.840
The FDIC has created a deposit insurance National Bank of Santa Clara at the time of closing.
00:05:06.620
The FDIC, as receiver, immediately transferred to this new receiver bank all of the insured deposits that were held at Silicon Valley Bank.
00:05:20.900
That's the way CNBC will explain it to the people who know what the hell they're talking about and all the acronyms and everything else.
00:05:39.460
And you just heard there, all this COVID money.
00:05:44.560
They needed to put it someplace and invest it because they had Silicon Valley Bank had so much money coming in from,
00:05:56.000
And at the time, you could buy a 10-year treasury and you would get 2% interest guaranteed at the end of 10 years.
00:06:08.000
But now, treasuries are selling for about 5% interest.
00:06:13.360
And you don't get that until the end of the 10 years.
00:06:16.880
So when you buy something, a 10-year treasury, you're buying it for 10 years.
00:06:23.020
If you have only eight years on it, you can sell it.
00:06:28.500
But you're going to probably have to sell it at a discount if the new ones are paying more.
00:06:34.880
So they invested the money in treasuries at 2%.
00:06:43.620
What they had in the bank, if you will, they owed $195 billion.
00:06:52.940
That's to the people who have put their money into checking accounts and savings accounts, mutual funds.
00:07:16.980
When you have people all over the world starting to say, I think the bank is going to collapse, they start to take their money.
00:07:30.140
They couldn't get the money wired out fast enough.
00:07:39.100
And then they announced, we're going to sell some treasuries.
00:07:43.900
Well, once they saw that they were selling 10-year bonds at 2% interest,
00:07:51.280
and the market was saying, well, that's only worth 75 cents on the dollar now,
00:07:57.260
and Silicon Valley Bank was taking it, they knew this is a fire sale.
00:08:06.760
That's what started all of the run on the bank.
00:08:17.940
If you have FDIC insurance, it's to stop runs on the bank.
00:08:29.160
I think it's 88% of their accounts are not covered by FDIC.
00:08:38.260
Because they're giant companies that are using payroll and keeping their money in the bank as the place where they can run their company.
00:08:55.580
If they also use the bank for a mutual fund, they found out Friday they were also screwed.
00:09:03.660
See, this bank loans money to these companies, these tech companies, and they loan them out venture capital.
00:09:12.860
And so they loan them the money to operate and to be able to do everything they can over the next year.
00:09:27.460
They loan that savings account of yours, per se, and loan it to this venture capital firm or the tech startup.
00:09:38.900
And the tech startup then says, where do I put all this money?
00:09:42.860
And Silicon Valley Bank says, oh, just in my other hand, just give me that money back, and we'll invest it in mutual funds for you.
00:09:51.020
We'll invest it in very safe things like BlackRock.
00:09:57.260
And the tech companies thought they were safe because it's invested in very secure places like BlackRock.
00:10:02.900
BlackRock, except what the bank didn't say, except in fine print, is that all the money that you had invested in BlackRock was not yours anymore.
00:10:21.640
So when people started to call and say, hey, BlackRock, my money's safe, they said, you don't have any money.
00:10:29.400
Your money's invested in Silicon Valley Bank, and because their name is on it, they're counting that as an asset.
00:10:55.040
And the Fed is the one that's causing this collapse by the raising of the rates.
00:11:01.460
But if you don't raise the rates, what happens?
00:11:11.040
Because we have printed and loaned too much money out.
00:11:19.100
Well, the way you pull it back in is raising interest rates.
00:11:22.640
If you raise the interest rates, bonds have to pay a higher yield.
00:11:29.040
And so when you buy a bond, you get more money back.
00:11:34.540
And if somebody gets into trouble, they have to sell their bonds exactly like Silicon Valley, and they have to take a haircut, and then the entire thing collapses.
00:11:59.900
They need people who are not stable to go out of business.
00:12:12.080
But when they do collapse it, and our economy is in this kind of shape, you then have a domino effect.
00:12:33.960
And then that paycheck causes you to default on your auto loan or your house loan.
00:12:44.080
We're at the place, I told you in 2008, we would be.
00:13:00.660
Once you start printing money, there's no way out.
00:13:14.080
But we're going to cover all of those accounts.
00:13:29.040
Yeah, it's the money that the banks gave to us to put aside for insurance in case something like this happened.
00:13:45.940
Well, I mean, are these the banks you bailed out?
00:13:49.920
And weren't you just giving them trillions of dollars?
00:13:59.440
So the money you printed that I'm on the hook for, you gave to the bank.
00:14:05.720
But they didn't use any of that money for that insurance.
00:14:35.480
The constitutionalist capitalist in me says that's really bad.
00:14:44.500
Because the guy who would like to see the entire Western world not burn down to the ground
00:14:49.940
would like you to bail it out just to give us some more time.
00:15:21.380
Now, the Washington Post said today that the bank's death marks both a sobering and salutary
00:15:35.460
The central bank has sharply increased interest rates over the past year, hoping higher borrowing
00:15:40.440
costs would slow the economy down and take the steam out of high inflation.
00:15:46.640
They want to see a tightening of the financial conditions.
00:15:52.820
With $209 billion in assets, the bank was just one-eighteenth the size of J.P. Morgan
00:16:00.320
Still, Wall Street was rattled by their abrupt end.
00:16:05.200
Bank of America was down nearly 12% in the past five trading sessions.
00:16:09.700
They're down another five or about four and a half percent today.
00:16:14.660
Some banks are down as much as 10% today before trading even started.
00:16:20.300
The banks that serve the riskiest part of the economy are the ones in trouble.
00:16:32.520
Banks like SVB and Silvergate Capital, San Diego-based bank that catered to cryptocurrency
00:16:42.600
Oh, it's not a run on the business model of the banking industry in general.
00:16:59.000
So, in other words, if you are making risky loans to tech or if you're investing and doing
00:17:08.420
anything at all with cryptocurrency, you're the problem.
00:17:23.060
Well, you know, a little banking collapse thing, but...
00:17:30.640
We're in tenuous times here with quite a few different situations, threats at the national
00:17:36.180
security level, financial level, and people's basic freedoms.
00:17:49.580
I've got a lot of things I'd love to talk to you about, but let's make sure that we cover
00:17:54.100
You just vetoed a bill, and you don't do that very often, do you?
00:18:03.060
Usually, I have one or two every legislative session.
00:18:05.880
I've had several already this session, which is strange.
00:18:10.560
I've never had a veto be overridden, which means every time I've vetoed a bill, the legislature
00:18:16.220
has read my reasons why, looked at the policy, and agreed with me.
00:18:26.260
It was sold as an update to the UCC, the Uniform Commercial Code, and something we just needed
00:18:33.940
to adopt to be in federal compliance and put a rubber stamp on.
00:18:39.180
It didn't get introduced until halfway through our legislative session and went through pretty
00:18:44.360
overwhelmingly through the House, ended up in the Senate.
00:18:47.240
And when I started reading it and digging into it with my policy team, the Senate was extremely
00:19:00.640
Well, I think, you know, South Dakota is a smaller state.
00:19:03.940
They had the same folks up in committee testifying from the Banking Association, from a financial
00:19:10.160
South Dakota is the best state in the country to have a credit card company, to have a trust.
00:19:14.780
Financial services is our third largest industry here.
00:19:18.620
So they are used to seeing the same familiar faces come up and sell policy.
00:19:23.180
The interesting thing about this bill is that it has a section in it buried in the bill that
00:19:30.280
And it specifically says that CBDCs are allowed in the future when it comes to digital currency,
00:19:36.280
but any former definition of digital currency would be allowed to be discontinued or not recognized.
00:19:44.780
It specifically is paving the way for a government-controlled digital currency, should that be
00:19:49.700
adopted, and should be alarming to every American.
00:19:53.060
After what we've seen the last several years with the federal government being willing to
00:19:58.740
trample on people's freedoms to control them, I would think them coming out with a definition
00:20:05.020
of money that allows them to control your assets would be extremely concerning.
00:20:10.920
I'm hopeful that the legislature will agree with me, and they'll become educated on the
00:20:15.180
actual policy that's wrapped up inside of it and really understand that it's a threat
00:20:26.220
We go back into legislative session in a little less than two weeks for one day.
00:20:31.720
And that's when they consider the vetoes that I have put forward, and they either choose
00:20:37.600
to sustain them, agree with the veto, and the bill would go away, or they would override
00:20:45.320
And I also have the budget yet that I have to look at and decide if that's going to be
00:20:49.920
So you need people to call in a couple of weeks, or should they call now?
00:20:56.880
I think that a lot of legislators didn't read this bill before they voted on it.
00:21:02.300
It was a pretty extensive piece of legislation.
00:21:06.580
They also, you know, did not really understand the threat that we're seeing, especially now
00:21:14.640
And then also we saw the credit card companies recently come out and say they're going to
00:21:17.540
start coding gun purchases separately and tracking them.
00:21:21.780
For me, it's a direct tie to the federal government saying that if we don't like what you're
00:21:26.480
purchasing, well, then if you're using digital currency any time in the future, we can control
00:21:31.380
your access to your dollars in order to even purchase what we like or don't like.
00:21:37.400
So it is something that is, you know, everything I look at is setting precedent for the future.
00:21:43.120
And this is paving the way for federal government control over people's personal dollars and
00:21:50.900
If you happen to be in South Dakota, call your statehouse.
00:21:52.900
I will tell you that what Christie has done here is extraordinarily brave.
00:21:59.040
She is standing up against a very powerful industry.
00:22:03.560
As you know, today, more definitely not bailouts happening through the Fed today.
00:22:13.660
And a lot of these legislators and senators listen to these guys and trust them.
00:22:20.720
And you really need to speak out and let them know you are not for anything that paves the
00:22:28.240
way for a central bank digital currency, especially when that's the only thing to find is money.
00:22:36.300
Glenn, specifically, this bill is being proposed in many other states.
00:22:40.280
I think there's probably 20 other states that are talking about this policy.
00:22:43.620
So even the more that people pay attention and bring awareness to it, we need to educate
00:22:49.340
I think that's one of the main reasons for chatting with you today, too, is to let my people
00:22:55.220
But also, you know, we're the first legislative session, I think, to complete its work in the
00:23:00.800
And we're always the first ones to kind of deal with these kinds of bills and have to veto
00:23:07.360
If people can pass them in South Dakota, they know that makes it easier in other states.
00:23:13.860
And we did make the right decision here in South Dakota.
00:23:17.940
And then I hope these other states are paying attention and we educate those folks, too,
00:23:21.380
so they don't go ahead and adopt these without really thinking about the consequences.
00:23:30.720
And they said the UCC bill in every state is dead.
00:23:39.460
I mean that all of the advances we had made last week, the the banking committees and all
00:23:48.700
of the people that were for the UCC just descended on all these state houses and talked
00:23:56.340
to all of these guys out of stopping this in their state.
00:24:08.800
But you have to call your state legislature and say no on the uniform commercial code changes.
00:24:18.340
It is the authoritarian tool that is required to control absolutely everything in your life.
00:24:27.460
Well, Glenn, the one thing that people should know, too, is that there's no rush on this.
00:24:33.800
So a lot of what their testimony was is we need to hurry up and adopt this.
00:24:43.480
If people have concerns, we should be able to talk about them.
00:24:46.680
And if they don't, we should give them time to be educated, make wise decisions, especially
00:24:52.580
in light of what we've been through the last several years.
00:25:07.600
We are going to see a crash of biblical proportions.
00:25:11.020
And all the things they said in 2008, it'll shut down the global economy and everything
00:25:20.440
We just can't get out of this trap we're in now.
00:25:23.460
Um, and we have definitely not a tarp bailout, but the, but the Fed is covering everything
00:25:30.940
and the treasury is guaranteeing everything for these banks that went under.
00:25:40.240
Others are saying again, the same thing they said before we have to, or this chapter is
00:25:51.360
Well, listen, I'm, I'm much more focused constantly on problem solving and being, making
00:25:58.400
the best and wise decisions looking into the future.
00:26:01.320
So I do think we have economic financial crisis coming our direction.
00:26:07.460
My job is to protect my state as much as possible.
00:26:09.960
So we have a extensive briefing that'll happen this week with all of our banks and institutions
00:26:14.520
gathering as much information as we possibly can.
00:26:17.140
I think that if anybody is looking to the federal government to help secure their future, they
00:26:24.020
Any kind of bailout, anything that this federal government's going to do is not going to shore
00:26:28.160
up your life, your livelihood, your finances, or your family.
00:26:34.800
It is time for people to start taking personal responsibility for themselves and their neighbors
00:26:39.820
and churches to start getting engaged and involved.
00:26:42.480
People don't have to feel like they've lost their foundation.
00:26:49.000
Everybody has been looking for the government for all the solutions.
00:26:51.820
And that is how this world has got tipped on its ear and why we're so unstable right now.
00:26:56.640
So yes, people should be wise and plan for the future and start looking for a better place
00:27:01.440
for, for their foundation rather than this government.
00:27:04.200
Because this government is only coming to steal your future.
00:27:10.180
One, uh, uh, our treasury secretary was, was over in Ukraine.
00:27:23.580
We've sent more money there than we have securing our border for the last five years.
00:27:31.100
Just the history of Ukraine is that, um, you know, we can't be certain of how they're spending
00:27:38.080
all these dollars that we sending them and their, their track record is not great.
00:27:46.120
We're just, and using financial sanctions certainly is a helpful tool, although we've
00:27:51.340
relied on it too heavily and, uh, we've had a weak foreign policy, uh, the last couple
00:27:58.780
And, and so I, I do believe that it is time to, for us to wake up and understand that Ukraine
00:28:06.980
Uh, we need to put America first again and start focusing on what we do and that it shouldn't
00:28:17.300
We've never had this president articulate a plan for Ukraine.
00:28:21.280
And then in that way, digging a bigger hole for us in the long run.
00:28:25.520
Um, we're talking to governor Christie Noem last, last thing.
00:28:28.660
Are you at all considering throwing your hat into the ring for 2024?
00:28:37.520
I do think this country needs a leader that makes tough decisions.
00:28:43.860
Um, so I know all, all these people personally that are talking about it.
00:28:48.520
I always get a little nervous about people who spend their whole life dreaming about being
00:28:52.580
Most of the time, I think they, they're the last person you should want to be president.
00:28:57.020
So, um, you know, I just want, I wish we had a guy who could speak like Ronald Reagan
00:29:03.840
again, or a woman who could speak like Ronald Reagan again, and somebody who actually cared
00:29:14.360
Governor Christie, uh, governor Christie Noem, please in any red state, call your legislature
00:29:37.220
From Kentucky, Congressman Thomas Massey joins us.
00:29:40.700
He, uh, sent it as a, a really, um, disconcerting, uh, tweet last night.
00:29:47.940
I saw, uh, just got off a zoom meeting with fed treasury, FDIC house and Senate, a democratic
00:29:54.120
Senator essentially asked whether there was a program in place to censor information on
00:29:59.780
social media that could lead to a run on the banks.
00:30:11.120
Now he may have, uh, he may say if people ever figure out who he is, that he was talking
00:30:17.860
about foreign influence and he was worried about foreign influence, but, uh, I, he didn't
00:30:25.500
And I presume he meant to censor true information that could be harmful to banks that may or may
00:30:35.800
I will tell you, Thomas, this is exactly right.
00:30:42.340
I can send this information to you if I, if I look it up, um, and you want it, it was
00:30:50.100
And that's one of the first things in a banking collapse that the world economic forum said
00:30:56.100
they had to develop a way to stop all voices that are, uh, are, um, offering anything other
00:31:06.800
Also, uh, this is, uh, within DHS, there's something called CISA, C I S A. And Michael
00:31:15.020
Schellenberger, who's one of the people who exposed the Twitter files, he showed me that
00:31:19.940
it's in their charter to, uh, to censor stuff that could be harmful to the financial system
00:31:27.120
They consider that, you know, national security.
00:31:30.780
So, uh, you know, then I think they may have scrubbed that off their website since then,
00:31:37.360
And I'm not trying to cause a run myself by exposing that a Senator suggested that the
00:31:43.180
Congress or these agencies should be censoring Americans when they talk about the financial
00:31:51.480
I think it's the Senator himself who suggests the censorship that is causing concern among
00:31:57.720
I really think Thomas, if people were just told the truth and treated like adults, we
00:32:03.600
would be fine and we would be able to handle it.
00:32:06.040
I think there's a lot of people who are like, let's just get this over with.
00:32:09.220
Um, we have made this so much worse and I don't understand what, what's happening now.
00:32:15.440
So the FDIC is just, if I got $400 million in a bank account, they're going to cover it.
00:32:23.320
The money they've gotten in the bank was premiums that were paid to cover insure people who've
00:32:31.800
So the FDIC is pushing all their chips on the table because they don't have enough money
00:32:38.540
They've only collected premiums to cover $250,000.
00:32:42.200
They're pushing all their chips on the table because they know they can cover it for two
00:32:49.860
Well, then they've spent all the money that's supposed to protect the people under $250,000,
00:32:56.980
So the, the treasury has this program that they announced last night as well.
00:33:06.280
The federal reserve has a program where if banks bought treasury bonds at low, low rates
00:33:13.180
and got themselves locked in for 10 years and can't pay their depositors back because
00:33:18.400
these treasury bonds are only worth 80 cents on the dollar, then the federal reserve will
00:33:25.280
Not the real value of those bonds, but whatever they bought them for.
00:33:30.740
So that's going to be inflationary because the federal reserve is going to kick more money
00:33:37.220
Who is, you know, this is, I want to quote the president from his speech today.
00:33:41.160
No losses will be, and this is an important to make this point.
00:33:50.960
Instead, the money will come from the fees that banks pay to the deposit, deposit insurance
00:34:02.700
Uh, why hasn't it ever been raided to save social security or whatever?
00:34:11.060
And if they can't cover it, I know the fed will say they're going to do it, but aren't
00:34:15.460
we the one that is on the hook for everything the fed spends or prints?
00:34:22.400
The liberals hate it when, when, when Republicans say thoughts and prayers, but I heard Chuck
00:34:27.820
Schumer last night said that he hopes and prays that what they're doing is enough.
00:34:35.020
The reality is they can't do this for every bank.
00:34:38.420
So they're going all in on the first few banks to instill confidence, but for the president
00:34:43.740
to say no taxpayer dollars, that's, uh, ignoring the, the, uh, federal reserve program that's
00:34:51.080
kicking in because if that causes inflation, the fact that the federal reserve is going
00:34:55.500
to loan to banks using as collateral, their bad debt that they got from the U S government,
00:35:01.440
by the way, it's not bad because the government will default.
00:35:03.540
It's bad because they're locked in for 10 years at pitifully low interest rates.
00:35:09.420
And, um, if they try to sell those on the market, they're not going to get the money
00:35:14.540
So that's going to, that's going to dilute the value of your money.
00:35:19.120
If I could go real quickly through four roles that the federal reserve has played in causing
00:35:25.160
First, they were Santa Claus, the federal reserve was Santa Claus.
00:35:28.100
They kept interest rates at 0% or damn near close so that, wow, we could borrow money at
00:35:34.180
the U S government and spend it and everybody can invest.
00:35:36.640
And it's, and it like heats up your economy, by the way, it also drives the venture capitalists
00:35:42.080
into the venture capital market, uh, because they can't get any money on safe investment.
00:35:47.040
Then the fed becomes the arsonist when they, when they create $5 trillion out of thin air during
00:35:56.040
The federal reserve shows up a couple of years later as the firefighter and they're going to
00:35:59.840
douse the economy by raising interest rates faster than they've ever been raised before.
00:36:05.160
So now they've been Santa Claus, the arsonist, the firefighter to last night, we found out
00:36:11.280
They're going to come in and do triage on these banks by loaning the money for things as that are
00:36:17.340
collateral, that aren't worth what they say they are.
00:36:24.420
The federal reserve is largely responsible for this.
00:36:28.560
Uh, there needs, somebody needs to account for it.
00:36:38.100
This is a result of the cares act and all the other stuff that spent $5 trillion we didn't
00:36:57.920
And I fear that they are setting us up for a new currency, a new digital currency, which
00:37:04.660
every time the United States has changed currencies, uh, you've lost at least 40% of everything
00:37:12.500
Uh, but this will put us into a digital currency, which has all kinds of ramifications.
00:37:26.280
Uh, I haven't, I have, I have not taken any money out of my bank.
00:37:33.520
Uh, so maybe that's not too comforting one way or the other, but I wouldn't make a run
00:37:38.920
on the bank, but longer term in your life plan, I wouldn't keep a lot of money in cash.
00:37:44.660
I wouldn't keep a lot of your resources in cash.
00:37:49.860
You know, I don't want to be an investment advisor either, but, uh, have durable goods
00:37:55.680
and things that people always want would, would be my recommendation.
00:38:02.280
The clowns who are, who are managing this crisis will clown their way through in some
00:38:07.980
And at the end of the day, probably they're going to cause more inflation is what's going
00:38:12.080
to happen at the end of the day, because they're going to use your money to protect
00:38:26.360
The, the investors, well, if they do well, they get to keep their profits.
00:38:30.540
If they do poorly, we use the Americans through the federal reserve to, uh, to make them whole
00:38:37.760
And isn't it, isn't it interesting that they are the bank for most of the green new deal
00:38:44.860
Uh, they are, they're the bank that's, that's funding all of the, all of these harebrained
00:38:51.780
Yeah, that was part of the, uh, here's the irony.
00:38:54.840
The venture capital money that was supposed to fuel the startups in our economy is stuck
00:39:02.500
They, it, our, our debt, our desire to spend money at Congress is so overwhelming that we
00:39:08.700
eventually sucked in that venture capital money that was supposed to fund these startups
00:39:18.540
Um, there is a story that I have never, I've done this for almost 50 years.
00:39:37.940
And then the president's not sure he's going to sign it.
00:39:41.080
The, the closest to unanimous, I think was world war two.
00:39:45.720
And there was one person that stood against it.
00:39:48.520
How did Congress all vote every single one of them to investigate the origins of COVID COVID?
00:40:00.000
I asked this same question in a hearing in the rules committee, like the president could
00:40:05.420
declassify the origins of COVID information that we have, uh, and it's relation to the
00:40:14.520
He could have done it a year ago, two years ago.
00:40:18.600
Now the entire Senate and the entire house has voted for him to do it.
00:40:23.520
Uh, he could veto it, but his veto is going to be overridden.
00:40:27.760
What the answer I was given, uh, in a hearing that's not much watched.
00:40:34.000
Uh, so it is public, but it's still kind of hidden is that the president, because of foreign
00:40:39.520
relations with China, it needs to look like he's forced to do it.
00:40:42.980
Uh, so that he doesn't disrupt the relationship with China.
00:40:47.780
If he, if he did this on his own, it would, and I guess I'm spoiling the whole punch right
00:41:02.840
But I mean, these are like, uh, little kids could come up with these plans.
00:41:10.260
Uh, but that was the only reason that I was given that made any little bit of sense.
00:41:15.540
Well, it's also weird that every single person voted for it out of, out of what?
00:41:24.560
520 people, uh, and the, and the viewpoints that a lot of people have that this is absolutely
00:41:39.000
Every single one of them said, yes, we want the house to investigate.
00:41:44.640
We want people to, uh, we want the president to release all of the classified information.
00:41:49.620
Just release the classified information on the origin.
00:41:58.580
You can find evidence of this everywhere, but I think it's going to lead back to the
00:42:03.160
United States that, you know, we were working with them on this virus.
00:42:11.280
I mean, that's going to, you know, and so I think they're trying to slow walk that realization
00:42:16.640
that the American government used your tax dollars to create a disease that killed hundreds
00:42:25.620
They like, that is the biggest argument against growing government I have ever seen.
00:42:31.540
And they're trying to, they're trying to keep by delaying the release of all of this stuff.
00:42:40.100
Uh, when you come around to realize that we created the virus.
00:42:46.640
Uh, when you have tobecauseffee drug Mike racing, the reason why we're trying to enjoy
00:42:50.320
the fatto gun is different fromanta so other people.
00:42:51.660
We didn't trust that Israel would have to be involved.
00:42:55.800
We didn't trust that Israel would have to retain such amemory life and they stop
00:43:13.140
and keep going close to the lives of one of our ships.