The Glenn Beck Program - Best of the Program ｜ Guests： Michael Malice & Carol Roth ｜ 4⧸8⧸22

00:00:00.440 Today's podcast, great one. Michael Malice is on. We talked to a couple of people that really know what's going on in Washington.

00:00:10.060 One is a Republican that's going to probably be the head of the Finance Committee in Washington that looks over the financial sector.

00:00:20.260 He's talking to us about what's really going on and the dangers of a central bank cryptocurrency from the Fed.

00:00:28.380 Also, we talk about the dangerous pattern that we now have in our intelligence community using unverified sources and facts as propaganda in the war in Ukraine.

00:00:44.420 Carol Roth also joins us about the economy and what's ahead there.

00:00:48.940 By the way, if you want to save a little bit of money, you have an opportunity. I think it's open until Sunday.

00:00:54.080 You said at one point it's Friday, but maybe it is Sunday.

00:00:57.040 I think it might be this weekend again. If you try it, if you listen to the podcast on Saturday and give it a shot, feel free.

00:01:02.660 But it's the code THEALAMO when you sign up for Blaze TV at blazetv.com slash Glenn.

00:01:08.420 If you do it there, use the code THEALAMO. You'll save 20 bucks off your subscription going forward.

00:01:13.340 And one of the things you get, you get access to the weekly Wednesday night television show, which next week is a dangerous show, but a very serious show.

00:01:24.680 It's on the President's Cognitive Collapse.

00:01:28.160 Also, you get things like our podcasts.

00:01:32.160 You get the one-on-one interviews.

00:01:35.000 You don't want to miss this interview this week on the podcast.

00:01:38.140 It comes out Saturday. It's been out for two days if you're a Blaze subscriber.

00:01:42.680 But it is, it's all about Hunter Biden's laptop and the Biden family.

00:01:49.760 Don't miss it. That's tomorrow's podcast.

00:01:52.580 Here's today's.

00:01:53.140 You're listening to

00:02:01.380 The Best of the Glenn Beck Program.

00:02:08.060 This is the Glenn Beck Program.

00:02:11.520 This is the last day for the promo code THEALAMO.

00:02:16.320 We are...

00:02:16.920 Oh, I know why.

00:02:18.040 You're going out of business.

00:02:19.540 The whole company's going out of business, isn't it?

00:02:21.340 So this is the last day you can save, because tomorrow, bankruptcy.

00:02:24.480 It's gone. It's all gone.

00:02:25.360 Is that what it is?

00:02:26.020 Yeah, I think so.

00:02:26.700 I think you're talking about CNN Plus.

00:02:28.640 Oh, that's right. CNN Plus. I'm sorry. You're right.

00:02:31.100 Anyway, we really need your support.

00:02:33.780 Social media has just...

00:02:36.280 They have us by the throat, and we built this to be able to withstand several attacks on us,

00:02:44.660 but this is a big one, and we'll survive.

00:02:48.620 Obviously, we will thrive.

00:02:50.100 We are the Alamo.

00:02:52.440 I built this to be the last man standing, and we are going to do that, but we really need your support.

00:03:00.560 Subscribe.

00:03:01.160 If you find the things that we do useful to you, and you want to keep our voice going,

00:03:08.080 please subscribe and join us.

00:03:10.600 Be a part of the team.

00:03:11.800 BlazeTV.com slash Glenn.

00:03:14.480 Promo code THEALAMO.

00:03:16.540 Save $20 right now, and today is the last day you can do that.

00:03:23.020 So, speaking of CNN Plus, which on day two, they gave a 50% cut on the rate.

00:03:34.240 That means day one went so well that they didn't have to charge as much anymore, right?

00:03:38.740 Is that what it is?

00:03:39.400 See, that's what it meant.

00:03:40.980 I have been speculating in my own head how few people actually subscribed, and I'll bet

00:03:49.120 you it was under 30,000.

00:03:51.060 Yeah.

00:03:51.280 Oh, I bet it was way under 30.

00:03:53.140 Do you?

00:03:53.560 I think so.

00:03:54.240 Think of the global reach.

00:03:55.960 I'll bet it was between one and five.

00:03:58.740 Thousand?

00:03:59.540 Yeah.

00:03:59.680 Or one in 5,000.

00:04:00.620 Okay, okay.

00:04:01.360 Not one in five people.

00:04:02.440 No, no.

00:04:02.880 Yeah.

00:04:03.220 Because I think you're right.

00:04:04.020 This is the type of organization.

00:04:05.580 They put a fortune into this.

00:04:08.520 I mean, they have so many employees.

00:04:10.580 They're already talking about laying off employees.

00:04:13.400 I'd love to do an interview on that with Brian Stelter.

00:04:16.820 Wait, why?

00:04:17.620 Why particularly, Brian?

00:04:20.040 Because I do remember you've been interviewed by Brian Stelter before.

00:04:23.040 Well, what I'd like to do is invite him on to talk about something very important

00:04:28.440 that I know he's really interested in.

00:04:32.560 Sure.

00:04:33.320 And then right at the point where you're making the point, I would say, Brian, isn't

00:04:42.400 your company collapsing?

00:04:44.620 Aren't you about to go out of business?

00:04:47.440 That's weird.

00:04:48.280 Why would you say that?

00:04:49.240 I don't know.

00:04:50.300 How do you think he'd react to something like that?

00:04:52.360 Do you think he might just stand up and turn around and walk out of the interview? 0.99

00:04:55.840 No, he's too much of a fat lump to do that. 0.95

00:04:57.940 Standing is hard.

00:04:58.700 So yesterday, they had this big, I don't even know, conference where they brought in

00:05:08.080 all of the liars and they set them on a stage and they said, we've got to talk about misinformation

00:05:14.600 and disinformation and malinformation and how it's destroying our democracy. 0.98

00:05:19.620 So the guy I pick right away is the fat lump from CNN.

00:05:23.800 Uh, and he was asked a question about Disney and he said, you know, the theme, the talking

00:05:34.120 point of the right about protecting kids from the dangers of the Walt Disney company, it's

00:05:40.400 really Disney is just a stand in.

00:05:42.820 It's a symbol for something bigger, a conservative backlash to growing acceptance of gay and transgender 0.72

00:05:48.940 people.

00:05:50.340 Oh my gosh.

00:05:52.040 You couldn't be more wrong if you try.

00:05:55.500 And I think he tries to be wrong.

00:05:58.760 It's again, the, the bill they're talking about would also prohibit you talking about

00:06:04.260 straight sexual encounters.

00:06:05.960 It's not how it can possibly be about being gay when it also would prohibit straight conversations 0.84

00:06:12.640 makes no sense.

00:06:13.960 It is truly about, cause I looked up the definition today from, uh, the justice department, uh,

00:06:19.600 and the, uh, the American bar association.

00:06:22.600 It is grooming.

00:06:24.140 It is technically grooming.

00:06:27.000 Yeah.

00:06:27.480 This is a, this is that big debate right now of whether you use that term.

00:06:31.060 I think, you know, I thought who really made a good explanation of this was, uh, was

00:06:35.400 James Lindsay the other day.

00:06:36.360 Oh yeah.

00:06:36.780 And one of the things he mentioned was people keep saying grooming, like, like, look, I

00:06:40.820 think Chris Hayes is wrong on basically every issue on MSNBC.

00:06:44.120 I'm sure we would agree on nothing.

00:06:46.340 Do I think he's trying to molest children?

00:06:48.800 No, I don't.

00:06:49.740 But that's not the definition of grooming.

00:06:51.200 Right.

00:06:51.880 That people like that is one definition, like Jeffrey Epstein.

00:06:55.880 Yes.

00:06:56.280 He would be called a groomer. 0.95

00:06:57.720 Now again, was it gay? 0.95

00:06:59.920 Had nothing to do with being gay.

00:07:01.960 No.

00:07:02.300 He was not the groomer.

00:07:04.240 Yeah.

00:07:04.360 The, uh, uh, Gladwell, whatever her name was. 0.99

00:07:07.620 Jelaine, uh, Maxwell.

00:07:09.040 Yeah.

00:07:09.220 Maxwell.

00:07:09.500 Well, again, they worked together on that.

00:07:11.020 I would, I would, I would.

00:07:11.580 No, I know that, but she was doing the grooming. 1.00

00:07:14.280 He was doing the molesting.

00:07:16.680 Yes.

00:07:17.160 I, I would say some of the stories like, you know, they, they both imported a young teenage 0.73

00:07:23.440 painter to their house and kept the, like, there's, there are cases where Epstein, I would

00:07:27.620 definitely put him in this category as well.

00:07:28.960 But again, like you jump to that.

00:07:31.180 What, what, what, uh, James Lindsay said on the show is that like, think of grooming as

00:07:36.260 for a cult, for example.

00:07:37.840 Yeah.

00:07:38.040 You're trying to, to look at the craziness we're talking about.

00:07:42.220 Uh, men are women and women are men, right? 1.00

00:07:44.340 Like these basic facts that everyone understands.

00:07:46.520 You're trying to convince people to question a foundational truth that they all know that

00:07:51.760 is the type of activity cults do all the time.

00:07:54.740 Right.

00:07:54.980 But here, and here's the other part that cults do.

00:07:57.400 They also separate you mainly from your family.

00:08:02.540 They start separating you and making sure that they are between you and mom and dad or

00:08:08.180 you and the family and anyone who comes up against it, they are discredited and they're

00:08:14.660 an enemy of the cult.

00:08:15.820 Yeah.

00:08:16.120 That's what this is.

00:08:17.400 Yeah.

00:08:17.760 I mean, listen to some of the people who have left, you know, uh, Scientology who, who believe

00:08:22.200 they've been groomed into that lifestyle.

00:08:24.160 Uh, you know, the, I can't think of her name, but the lady that was on King of Queens. 1.00

00:08:27.560 I mean, listen to her talk about it.

00:08:29.320 This is exactly the stuff she's talking about.

00:08:30.600 She's not talking about, uh, this, the grooming stuff like Jeffrey Epstein.

00:08:34.320 It's a totally different thing.

00:08:35.580 Pat Gray joins us from Pat Gray Unleashed, the podcast you can get anywhere at the, uh, disinformation

00:08:40.560 and the erosion of democracy conference.

00:08:43.680 A university of Chicago freshman stood up and said, I've got a question for Brian Stelter.

00:08:51.140 My name is Christopher Phillips.

00:08:52.300 I'm a first year at the college.

00:08:53.700 Uh, my questions for Mr.

00:08:55.060 Stelter, uh, you've all spoken extensively about Fox news being a purveyor of, uh, disinformation,

00:09:01.700 uh, but CNN is right up there with them.

00:09:04.400 They pushed the Russian collusion hoax.

00:09:06.420 They pushed the Jussie Smollett hoax. 0.99

00:09:08.440 They smeared Justice Kavanaugh as a rapist. 0.98

00:09:11.000 And they also smeared Nick Salmon as a white supremacist. 0.99

00:09:14.620 And yes, they dismissed the Hunter Biden laptop affair as pure Russian disinformation.

00:09:19.800 All true.

00:09:20.240 Uh, with mainstream corporate journalists becoming little more than, uh, apologists and cheerleaders

00:09:25.220 for the regime, is it time to finally declare that the, uh, the canon of journalistic ethics

00:09:31.460 is dead or no longer operative?

00:09:33.980 Uh, all the mistakes of the mainstream media and CNN in particular seem to magically all

00:09:39.600 go in one direction.

00:09:41.100 Are we expected to believe that this is all just some sort of random coincidence or is

00:09:46.520 there something else behind it?

00:09:47.460 Listen to this answer.

00:09:48.480 Too bad.

00:09:48.920 It's time for lunch.

00:09:50.460 You have 30 seconds.

00:09:51.820 No, I mean, there's a clock that says 30 seconds.

00:09:53.880 But, but I think my honest answer to you, and I will, I'll come over and talk in more

00:09:57.600 detail after this, is that I think you're describing a different channel than the one

00:10:01.560 that I watch, uh, but I understand that that is a popular right-wing narrative about CNN.

00:10:05.960 I think it's important when we talk about shared reality and democracy, all these networks,

00:10:10.560 all these outlets have to defend democracy.

00:10:12.400 And when they screw up, admit it.

00:10:14.620 Uh, but when Benjamin Hall, the Fox correspondent was wounded in Ukraine, he, but he refused to

00:10:21.300 admit it.

00:10:21.580 He said those, basically those things didn't happen.

00:10:24.360 That's just a narrative.

00:10:25.300 Yeah.

00:10:25.700 All of those things are easily verifiable.

00:10:29.440 You know, you just have to admit it, but he's part of the disinformation and yet he's

00:10:34.380 the expert trying to point to the disinformation.

00:10:37.500 We're in an upside down world.

00:10:39.520 Let me give you one more, um, college student that went after, um, an Apple bomb.

00:10:45.060 Listen to this.

00:10:45.600 So in 2020, you wrote those who live outside the Fox news bubble do not, of course, need

00:10:51.060 to learn any of the stuff about Hunter Biden referring to his laptop.

00:10:54.060 Of course, uh, a poll later after that found that if voters knew about the content of the

00:10:59.400 laptop, 16% of Joe Biden voters would have acted differently.

00:11:03.200 Now, of course, we know a few weeks ago, the New York times confirmed that the content

00:11:06.740 is real.

00:11:07.600 Do you think the media acted inappropriately when they instantly dismissed a hundred Biden's

00:11:12.480 laptop as Russian disinformation and what can we learn from that and ensuring that what

00:11:16.700 we label as disinformation is truly disinformation and not reality?

00:11:21.540 I mean, my, my problem with Hunter Biden's laptop is I think totally irrelevant.

00:11:25.100 I mean, it's not whether it's disinformation or, I mean, I don't think the Hunter Biden's,

00:11:30.540 um, business relationships have anything to do with who should be president of the United

00:11:34.860 States.

00:11:35.340 Oh my gosh.

00:11:36.360 I didn't find, I didn't find it to be interesting.

00:11:38.380 You didn't find it to be interesting.

00:11:39.560 That would be my problem with the, that as a, as a major news story.

00:11:42.320 This is, this too is incredible.

00:11:44.940 Here's, she's from the Atlantic. 0.92

00:11:46.440 And so that's why she talks like this.

00:11:48.200 Um, but she finds it not interesting.

00:11:51.620 Here are the headlines that she has written lately.

00:11:54.460 Tucker Carlson is stirring up hatred of America.

00:11:57.280 The, my pillow guy could really destroy democracy.

00:12:02.100 Laura Ingram's descent into despair that she finds interesting, but the relationships that

00:12:10.180 are providing money to the current president, not interesting, not interesting.

00:12:16.460 You know, if it was Donald Jr.

00:12:19.680 Oh, she'd find it very interesting.

00:12:20.780 I, would she though?

00:12:22.060 I don't know.

00:12:23.180 Really?

00:12:23.680 Yeah.

00:12:24.060 If he's making millions from a foreign country and has written emails that like a 10th or

00:12:31.740 50% of it goes to the big guy, his dad.

00:12:34.360 Yeah.

00:12:34.760 I don't think she'd find that interesting.

00:12:36.820 I can, I, I know I would lay, I bet my house and everything I have on the two of you, but

00:12:45.020 I don't know if I can say that about most of the media on the right or the left, that

00:12:51.820 if this were reversed, we'd cover it, we would cover it.

00:12:55.280 No question.

00:12:55.640 And I'd call for the impeachment of the president.

00:12:58.100 I think we've proven that.

00:12:59.260 I think we have to, I think we have to, it's very interesting and it's, it's fascinating

00:13:05.520 to me that they are continuing the lie.

00:13:09.660 It shows they haven't learned anything.

00:13:13.060 They're not interested in learning anything.

00:13:15.920 Yeah.

00:13:16.060 They have decided what the role of the media is and the role of the media is to protect

00:13:22.840 the democratic party.

00:13:25.060 That's it.

00:13:26.120 And now they are taking the step further and they are openly saying anything that disagrees

00:13:35.940 with us up on this stage is disinformation and a threat to democracy that should scare

00:13:42.540 the hell out of people.

00:13:44.940 Now, what's really good, the college students that were there.

00:13:49.880 Yeah.

00:13:50.580 And the fact that we're not a democracy, that's also really good.

00:13:53.480 Yeah.

00:13:54.120 So we don't have to worry about democracy.

00:13:56.520 We're warning against it so often.

00:13:58.700 All right.

00:13:59.360 Thank you, Pat.

00:13:59.960 Pat Gray from Pat Gray Unleashed.

00:14:05.940 You're listening to the best of the Glenn Beck program.

00:14:24.660 This is the Glenn Beck program.

00:14:27.420 Welcome to Michael Malice, the author of The Anarchist Handbook, Dear Reader, The Unauthorized

00:14:34.200 Autobiography of Kim Jong-un, too, and The New Right, A Journey to the Fringe of American 0.51

00:14:40.780 Politics, co-author, strangely, of two New York Times bestsellers.

00:14:47.120 I, huh, who knew he could get on the New York Times?

00:14:50.840 I can't get on the New York Times.

00:14:52.480 I mean, not on the top 10.

00:14:54.260 Yeah, you're number one in sales, but number 15 on the New York Times list.

00:14:57.940 It's amazing how that works.

00:15:00.160 Welcome to Mr. Michael Malice.

00:15:01.840 Hi, Michael.

00:15:02.280 How are you?

00:15:03.160 Good morning.

00:15:04.120 Sunday morning.

00:15:04.960 Yeah.

00:15:05.560 Yeah.

00:15:07.880 I've got several things to talk about.

00:15:09.340 First of all, love to hear your opinion on the AP reporter that absolutely knew the

00:15:16.320 Pentagon was lying when they were like, yeah, and Russia might be using chemical weapons.

00:15:20.140 And now we find out that our National Security Council and our intelligence are spreading

00:15:27.840 misinformation.

00:15:28.540 They're using it and they think it's a noble lie.

00:15:31.920 You know, we're just trying to stop Russia, trying to beat them to the punch. 0.95

00:15:35.340 So they are using disinformation on the American people and on the rest of the world.

00:15:42.540 That doesn't sound like a good idea.

00:15:43.920 It may have been a good idea maybe 20 years ago when you wouldn't have social media and

00:15:50.000 other such mechanisms that can demonstrate things that aren't true and have them spread,

00:15:55.060 you know, quite literally at the speed of light.

00:15:57.520 I think this is just piss poor strategy.

00:15:59.820 I think if you want to whip people into a frenzy against Russia and talk about the things

00:16:06.080 that the Russians are doing, anytime you add lies on top of that pile, it's just going 0.97

00:16:11.480 to alienate people.

00:16:12.380 And there is a huge percentage of population, both from Democrats and from Republicans, that

00:16:18.480 whoever the sitting president is, they're just going to immediately disbelieve anything they

00:16:22.780 say on its face.

00:16:23.740 So to have like actual receipts that they're being deceptive is really crazy.

00:16:30.260 And also it just speaks to the why I'm hopeful about the future.

00:16:34.700 You know, the enemy class, which includes corporate journalists, these are not clever,

00:16:38.740 sophisticated people.

00:16:40.940 They're not good at being manipulative.

00:16:44.060 They've just been at it for 100 years and they're not in a position to change their strategy.

00:16:49.520 And that bodes well for all of us.

00:16:52.140 Yeah.

00:16:52.580 And I, you know, I was thinking, I was thought about you this morning when I was reading this

00:16:56.100 article because I thought this is what the founders wanted us to feel like, not about

00:17:01.760 journalists.

00:17:02.380 And they were counting on journalists holding the line, but they wanted us.

00:17:06.680 I mean, George Washington talked about it.

00:17:08.540 Thomas Jefferson talked about it all the time.

00:17:10.820 The government should never be feared by the people.

00:17:14.640 The government should fear the people rising up and the peoples holding them accountable

00:17:21.920 and never trust the government.

00:17:26.320 And we've trusted it for so long.

00:17:28.760 And I think this is actually a good thing that we don't really trust them anymore.

00:17:32.640 Well, I don't know who we is here, sir, but you're speaking to an anarchist, so we have

00:17:36.580 never trusted the government.

00:17:38.300 But I will also point out that you're, that Jeff, I'm a big Alexander Hamilton fan, but

00:17:43.640 Jefferson was a good example of this because Glenn, as you know, and I know people find

00:17:47.500 interesting when Jefferson was in the cabinet, Washington's cabinet, he's leaking left and

00:17:52.060 right to the press to make Washington look bad.

00:17:54.980 So he, in this case, put his money where his mouth is, and he used the press as a mechanism

00:18:00.980 to keep the government in check.

00:18:02.720 So this has been going on, this kind of backdoor collusion between the media and the federal

00:18:08.280 government since, again, the Washington administration.

00:18:11.060 It always, it always.

00:18:12.800 But, you know, the one thing we did have is we had a media that, I mean, when I was watching

00:18:17.560 that video, it was about two months ago, with the AP reporter sitting there and just not

00:18:24.320 giving the Pentagon any room to breathe.

00:18:26.640 He's like, look, so where's the evidence?

00:18:29.420 Because I know how this works.

00:18:31.040 You say something like that, and you usually come out here and you'll show us declassify,

00:18:35.700 but you're not doing that.

00:18:36.820 So you don't have any evidence.

00:18:38.620 No, of course we have evidence.

00:18:40.060 We're just not going to share with you.

00:18:41.340 Now we find out that they don't.

00:18:42.560 But there was only one guy in the press that did that.

00:18:49.300 I'll defend them, broadly speaking, in one sense.

00:18:52.360 I don't think any of us are privy to what kind of pressure the Pentagon and the state

00:18:58.020 is capable of exerting on media outlets, what kind of phone calls they can make behind closed

00:19:03.680 doors to make sure their story gets out.

00:19:06.000 I think they have a lot more leverage than any of us realize.

00:19:08.980 Not me.

00:19:09.680 I've been there.

00:19:10.360 Well, not you, of course, but that can manifest in things like reporters being told, okay,

00:19:14.660 we're not talking about this issue.

00:19:16.380 And what is that individual reporter working for a media conglomerate supposed to do?

00:19:20.160 That media reporter has what's called the Internet and should go out and expose it. 0.98

00:19:26.720 That's what they should do.

00:19:27.780 Anybody at this point that looks at their job and says, I'm going to be quiet when I have

00:19:34.860 information that is really critical to the survival of our country and our republic, I hold you

00:19:45.700 responsible.

00:19:46.780 You should have said something.

00:19:47.760 It drives me nuts when these people leave years of service at the Pentagon or whatever,

00:19:52.560 and then they come out a year later with a tell-all book.

00:19:55.380 Why didn't you say something when you were there?

00:19:57.500 Yeah, I mean, you're not going to have me defend them in the sense of saying that they're courageous

00:20:03.300 people.

00:20:03.700 I'm just saying that it makes sense in many cases why they would make those decisions that

00:20:07.820 they did.

00:20:09.160 So the New York Times or the Washington Post came out this week and said, Elon Musk investing

00:20:14.960 in Twitter, bad news for free speech.

00:20:18.840 I mean, that is the upside down world.

00:20:23.160 I was ecstatic because I think what is Elon Musk, I had this tweet that Elon Musk has done

00:20:29.640 a better job of going on offense than practically the entire conservative movement.

00:20:34.060 What's wonderful about this, and I don't think Elon particularly cares about free speech so

00:20:38.200 much as being a counterpuncher like President Trump was in certain contexts.

00:20:42.300 For them, Twitter was their sacred space.

00:20:44.340 This was their temple.

00:20:45.760 This was their place to manage the conversation, to discuss the political issues.

00:20:50.840 And now you have this heretic crossing the Rubicon saying, this is my house now, and this 0.96

00:20:57.960 is causing them before he's done one single thing.

00:21:00.680 The only thing he's teased is, do you guys want an edit button?

00:21:04.140 So the fact that he's in their house is causing them so much existential distress.

00:21:10.080 It's absolutely hilarious because the key is you have to go where the enemy class is and

00:21:16.180 make them feel unsafe, make them feel that their forts are breached because then they don't

00:21:20.580 have that air of smugness and they're going to have that shrieking of fear correctly because

00:21:26.620 they're not in charge anymore.

00:21:28.500 What is different about Elon Musk than others?

00:21:34.420 I mean, he is, he has, is it his, his kind of, I hate to say this because I hate Thomas

00:21:41.540 Edison, but is it his Thomas Edison kind of, I'm just going to go out and do it.

00:21:46.480 Uh, that kind of, that kind of American spirit that gives him a little protection from people

00:21:53.280 talking about Elon Musk and you're using Edison.

00:21:55.240 Should you use Tesla?

00:21:56.380 Yeah.

00:21:56.800 Or Tesla.

00:21:57.460 Yeah.

00:21:57.780 Yeah.

00:21:58.180 I guess I should.

00:21:59.260 Tesla kind of died broke.

00:22:01.080 So I think, but you know, Tesla is another better example because Elon Musk is an immigrant. 1.00

00:22:05.320 Listen, I'm an immigrant as well.

00:22:06.500 And when you're born in another country, a lot of the things that Americans kind of take

00:22:10.940 for granted and you absorb through osmosis, you're not going to kind of be raised in that

00:22:15.900 context.

00:22:16.860 Um, and I think Elon, and I'm being quite serious here, Elon's on the spectrum.

00:22:20.620 He's, he's got Asperger's by his own admission.

00:22:22.580 When you have that kind of hyperlogical mindset, a lot of things that other people might kind

00:22:27.840 of fall prey to, you're not, you're going to have more strength to stand up.

00:22:31.260 So when he sees who is up against him and the smears and the lies, uh, he's in a much

00:22:36.640 better position, especially given his wealth.

00:22:38.160 And it's also his idiosyncratic personality, uh, to fight back and realize, okay, these

00:22:42.840 are not people making mistakes.

00:22:44.220 These are people who, if they had their druthers loved me yesterday and now want to put me out

00:22:48.340 of business today.

00:22:49.160 Uh, you know, I, I will tell you that, you know, everybody looks at Asperger's as, you

00:22:54.000 know, something horrible your kids would, uh, would have.

00:22:56.940 Um, however, it's actually, uh, turning out, you know, if you can control it, it's like

00:23:04.020 ADD, if you can control it, it actually works out to be something really good for the culture

00:23:11.600 that we're in right now.

00:23:13.140 Yeah.

00:23:13.540 There's certain great advantages, uh, people are on the spectrum have that others don't.

00:23:17.540 So I think there's a big movement among people with autism to kind of humanize and be like,

00:23:22.600 Hey, we're not disabled that we just think differently.

00:23:25.060 And, and I think there's a lot to that.

00:23:26.920 Um, so the, the, the Twitter thing with Elon Musk came out, what April 5th is when they

00:23:33.260 were first reporting on that's when the Washington post said it was a danger.

00:23:37.040 The seventh, uh, we get a story about the New York times coming out and saying, you know,

00:23:43.720 you reporters here at the New York times, you don't have to use Twitter, uh, because we run

00:23:49.940 the danger of, uh, you know, an echo chamber.

00:23:52.680 If we're spending too much, too much time, they just thought of this too much time on

00:23:57.420 Twitter.

00:23:58.340 Uh, and there's a lot of really dangerous people on Twitter.

00:24:02.600 Uh, so you don't have to use it.

00:24:04.820 Are those connected?

00:24:06.560 Well, it's, I don't think they're connected per se.

00:24:08.740 I think it speaks to when Taylor Lorenz, who's a, you know, one of the most malevolent New 0.98

00:24:12.360 York times reporters, she was embassy, MSNBC, you know, crying about how mean people are

00:24:16.980 her and Twitter notice the two contradictory statements, Glenn, if it's an echo chamber,

00:24:21.340 there's no nasty people.

00:24:22.920 If you're just talking to each other, how are you getting all this hate?

00:24:26.760 So it's clearly, it's not an echo chamber.

00:24:28.620 Um, then Twitter has demonstrated to corporate journalists, how much hatred and contempt the

00:24:33.480 average person correctly has for them.

00:24:35.480 Uh, I think what happened is I'm sure after that crying fit, um, there were phone calls

00:24:41.120 behind the scenes to Twitter asking them to crack down and make people treat journalists

00:24:45.620 nicer, they drew the line.

00:24:47.480 And as a result, the New York times is somewhat retreating.

00:24:50.360 Uh, I I'll take this with a grain of salt.

00:24:52.360 I think we all remember in 2016 after president Trump won Dean banquet, who's head of the

00:24:57.720 New York times said, Oh, we're going to do a better job of trying to accommodate, you know,

00:25:01.900 more Americans.

00:25:02.580 Our reporting was way off and instead they double, triple, quadruple down.

00:25:05.720 But I think this is a big retreat.

00:25:07.980 Uh, this is them, you know, we had four years of like social media misinformation, you know,

00:25:12.600 journalists are being treated poorly when they're the heroes of our society.

00:25:16.420 And, you know, the more they're crapped on instead of doubling down, now they're having

00:25:19.980 to retreat.

00:25:20.500 So this is a victory that people should be very grateful for, even though it's a very

00:25:24.800 small victory.

00:25:25.720 Uh, one last thing I've, we've got about 90 seconds for this.

00:25:28.820 Um, ESI energy on Tuesday pleaded guilty to three counts of violations, um, in their, their

00:25:37.940 wind farms.

00:25:38.920 They, uh, are a big wind power developer and apparently they pled guilty to the murder of

00:25:49.360 golden eagles.

00:25:50.780 Uh, apparently the birds were killed by blunt force trauma after being quote struck.

00:25:58.220 By the wind turbine blades at its facilities in Wyoming or New Mexico.

00:26:04.420 Uh, and, uh, they're, they're paying $6.2 million in rest, restitution, I, I, I guess to

00:26:11.200 the Eagles families.

00:26:13.440 Um, but this is just, to me, this is just another thing that shows environmentalists are never

00:26:19.240 going to be happy with anything, anything.

00:26:22.000 Well, I'm a big endangered species person.

00:26:24.720 I've got 200 species of succulents in my house and I just looked it up while we're talking.

00:26:28.220 The golden eagle is the most widely distributed species species of eagle.

00:26:32.500 It's not endangered.

00:26:33.480 It's not even vulnerable in your threat and it's least concern. 0.75

00:26:36.540 So this seems to me to be completely nuts.

00:26:39.100 If this was some kind of bird where there's like 50 of them left, then I could understand

00:26:42.640 the idea of, all right, we have to have draconian measures to kind of protect them.

00:26:46.120 But that is not the case with this species at all.

00:26:48.260 So this is just, you know, very bizarre, but this isn't unusual when farms are known,

00:26:52.360 uh, for just decimating bird populations.

00:26:54.740 And by the way, those of you who have cats that live outside, your cat's entire life

00:26:59.080 is dedicated to killing those birds.

00:27:02.280 That's a thing. 1.00

00:27:03.500 They like murder birds all day.

00:27:05.320 It's their favorite thing.

00:27:07.080 I had a, I had a, uh, a hawk, I think land in my backyard the other day and, uh, we were

00:27:14.160 all watching, we were having dinner.

00:27:15.440 And then we realized the reason why it landed is it was having dinner as well.

00:27:20.900 Yeah.

00:27:21.460 Yeah.

00:27:21.860 I mean, it's, it's a, it's a vicious way to die, uh, by Talon, but I don't have to worry

00:27:27.620 about it.

00:27:28.100 Neither do you.

00:27:28.760 So let's move on with our lives.

00:27:32.360 Michael, thank you so much.

00:27:33.940 Always a pleasure.

00:27:34.640 Yeah, you bet.

00:27:35.340 Uh, Michael Malice, you can, uh, follow him, uh, on Twitter, but it, remember it's just

00:27:40.900 an echo chamber, uh, michaelmalice.com is his website back in just a minute.

00:27:48.880 The best of the Glenn Beck program.

00:27:56.480 Carol Roth, a recovering investment baker and the author of the war on small business.

00:28:02.920 She has just released a, uh, new article.

00:28:06.520 You'll find it at the blaze.com creative ways to come.

00:28:10.900 To, uh, combat inflation.

00:28:12.740 Carol, I went over that, uh, with the audience yesterday.

00:28:16.400 Um, really, really good and so much better than, uh, uh, uh, take the bus and what, what

00:28:24.560 did they say?

00:28:25.080 Eat lentils, lentils.

00:28:27.940 Yeah.

00:28:28.180 Thank you.

00:28:28.700 Bloomberg for that.

00:28:29.740 Go big on lentils.

00:28:30.520 So grab that article now at the blaze.com creative ways to help combat inflation.

00:28:36.180 She has some really good advice on what people should be doing right now to save.

00:28:41.820 Um, let me ask you about the, uh, mortgage situation.

00:28:46.000 I'm getting a ton of calls and emails from people that say, should I buy?

00:28:51.220 So should I buy a home or not buy a home?

00:28:54.400 What, what do you have any advice on that or any insight?

00:28:58.320 All right.

00:28:58.800 So I'll give insight because we're not allowed to give financial advice.

00:29:02.900 Uh, this is the disclaimer.

00:29:04.220 This is not financial advice.

00:29:05.300 This is just information for you to research and to consider.

00:29:09.060 So there are a couple of things to think about.

00:29:11.520 Um, this is again, a rule of thumb, um, for every 1% that a mortgage rate goes up, you are

00:29:20.860 going to add about 10% to the cost of your home over the time that you buy the home.

00:29:26.780 So, you know, as you can, as you see it kind of tick up and tick up, you know, if you wait

00:29:31.960 and you have to get a higher and higher mortgage rate, just keep in mind that, you know, that's

00:29:36.060 going to add 10% on the backend, which you're not seeing upfront when you pay it.

00:29:40.980 Um, I also heard, I was with Neil Cavuto earlier this week and he gave me a statistic that apparently

00:29:47.000 the breaking point where it becomes unaffordable for people to buy homes.

00:29:51.960 Um, and we haven't seen this in a while, so I just don't know how accurate it is today

00:29:56.260 is 5.75%.

00:29:58.720 So apparently, um, that's kind of what the industry thinks is the magic number.

00:30:02.820 There are a couple of competing things that we have going on right now.

00:30:07.580 Um, we obviously have home prices that have been severely inflated because of the federal

00:30:13.040 reserves intervention in the market, but we also have now a, um, a situation where our

00:30:20.980 dollars are going to be worth less.

00:30:23.040 So we need to have hard assets.

00:30:25.080 We also have a severe undersupply of homes in the market after the great recession financial

00:30:32.840 crisis, that next decade, we were underbuilt by, you know, kind of four to 5 million homes.

00:30:38.800 So depending on who you ask, uh, four to five plus million homes that we need in terms of

00:30:44.860 the, the housing for individuals.

00:30:46.740 And we've obviously had a slowdown on immigration.

00:30:49.920 So we know the Biden administration is going to ramp that up again.

00:30:53.540 There's going to be more demand for housing.

00:30:55.780 So I would imagine that even if there is some pullback, you know, for some point in time,

00:31:02.000 the fact that we have such undersupply and it's going to take so long to fill that in

00:31:07.320 is going to, at some point, provide a level of support.

00:31:10.280 Not to mention, as we've talked about Glenn, and we've written some articles at the blaze

00:31:14.020 about, um, you've got these corporations who are flush with cash, who are coming in

00:31:18.120 and being buyers.

00:31:19.100 So you've got more buyers than just homeowners in the market that also provides some support

00:31:24.420 for pricing at some point.

00:31:25.880 I, I really hate the, uh, expression.

00:31:28.740 Yeah, but this time it's different because it usually never is.

00:31:31.600 But this time, um, there is one additional element and that is we don't have a glut of housing.

00:31:37.880 We, we actually have the opposite problem.

00:31:40.800 Um, now let me ask you this because the interest rates at the banks are already going up for

00:31:46.240 your loans.

00:31:47.160 Uh, and it's up, it's already up in the fours in some places close to five or five.

00:31:52.520 Yeah.

00:31:52.660 Um, and, uh, yet the banks are only paying 0.5% interest for the loans.

00:32:00.440 Correct.

00:32:01.580 Uh, I don't know the exact amount that sort of the national average now, but in terms of

00:32:07.740 the spreads, obviously a rising interest rate environment is more favorable to banks.

00:32:13.700 And we have a situation where banks are flush with cash from what's been going on over the

00:32:19.140 last couple of years.

00:32:20.120 So even if you have savings in your bank, um, they're not going to be paying you very much

00:32:25.480 on that because they don't need to incentivize people to give them more money.

00:32:29.120 No, I'm, I'm asking about the, the way you curb inflation is the fed charges, the banks

00:32:37.020 more money, more, uh, more interest for them to borrow money from the fed to be able to lend

00:32:44.500 it out.

00:32:45.080 So they're paying maybe 2% you're paying 5% and, uh, they get to keep the 3% that 2% goes

00:32:52.800 back to be burned.

00:32:53.740 Right. 0.82

00:32:54.460 Yeah.

00:32:55.000 So I, so I don't, I don't have the specific kind of number of average of where banks are

00:33:01.460 in terms of their capital to give you a really specific answer.

00:33:05.760 I can answer that next time, but yes, that is sort of the spread.

00:33:09.460 That's how banks make money, right?

00:33:10.780 They, they take it, they take money at a lower rate.

00:33:13.220 They, they put it out at a higher rate, but you have to remember too, they're also projecting

00:33:17.700 into the future because they're locking in, in some cases, that rate for you for up to

00:33:22.880 30 years.

00:33:23.720 So they're, they're kind of projecting it over time.

00:33:26.140 So I'm not, I'm not bashing the banks for making profit.

00:33:30.000 Okay.

00:33:30.300 That's fine.

00:33:31.280 Um, what I'm, what I'm questioning is how does the fed suck that money back in from

00:33:38.640 banks that are flush with cash?

00:33:42.000 Okay.

00:33:42.520 So basically what they have done, um, well, really over the last 10 to 12 years, but then

00:33:49.200 they accelerated over the last couple of years is they have bought assets in the market.

00:33:54.160 So they went in, they bought two different asset classes.

00:33:57.400 They bought treasury securities and they bought mortgage backed securities.

00:34:01.720 And they're sitting with 9 trillion of those, the fed $9 trillion worth of those on their

00:34:07.560 balance sheet, which by the way, as we've talked about before, they bought that with

00:34:11.360 money they created out of nowhere.

00:34:12.800 When we, when we do that, we create money out of nowhere and go buy things.

00:34:15.900 It's fraud when the fed does it, it's monetary policy.

00:34:18.980 So they created money, which is, you know, what is driving up the price of everything because

00:34:23.600 it's not productive assets.

00:34:25.180 They just added more to the money supply and they went out into the market and they bought

00:34:29.640 all of these assets.

00:34:31.440 Now, in addition to raising the interest rate, the other thing that you heard out of the

00:34:36.040 fed, um, from their minutes this week is quantitative tightening.

00:34:40.160 They're going to let that balance sheet run off, um, either with direct sales or just

00:34:45.600 by letting those assets mature and not reinvesting the money.

00:34:49.700 And that's what changes the dynamic of getting the money out of the market.

00:34:54.320 Okay.

00:34:54.600 But, but you can't just, if you bought treasury bills, you can let it expire, but that means

00:35:00.800 the government has to sell that someplace.

00:35:03.940 And, uh, right now the treasury is not having to really pay interest to the federal reserve

00:35:12.380 because it's illegal.

00:35:14.020 So those are almost interest free loans for our debt.

00:35:20.520 And the rub is when they, when they take back in any profit off their securities, they actually

00:35:27.040 have to give it by law back to the treasury.

00:35:29.320 Right.

00:35:29.940 So we're getting, we are actually getting free loans, but that ride is going to come

00:35:35.480 to an end.

00:35:36.900 And in, in, in high inflation, I mean, you're looking at if, I mean, if they can't sell those

00:35:44.420 treasuries and you can't pay the interest rate, then you are technically in default.

00:35:51.120 Yeah.

00:35:51.680 As I said, there's sort of two different strategies they have.

00:35:54.180 They either let them mature and then they just run off the balance sheets, you know,

00:35:59.500 cause they have them at different, um, maturities.

00:36:01.920 So they don't actually sell them into the market.

00:36:04.200 And then the secondary strategy is actually selling them back into the market.

00:36:08.360 But going back to bonds, which is super complicated, it goes back to the differential between yields

00:36:14.740 and the bond prices.

00:36:15.860 So when you, you know, they trade on an inverse basis and that's why you're seeing the yields

00:36:21.240 increase.

00:36:21.840 Okay.

00:36:22.600 So let's get out of the talk.

00:36:24.940 Let me, let me just, let me just ask one more question on this.

00:36:29.220 How possible do you think it is that, uh, I mean, the government pensions already have

00:36:37.620 to buy railroad, U S postal service, U S military, et cetera, et cetera.

00:36:43.140 They have a requirement that those pensions hold 20% in treasuries.

00:36:51.700 Um, it's a great way to force people to buy your treasuries.

00:36:54.940 Now that's government workers.

00:36:56.560 So whatever, how likely is it that when we run out of people who want to buy our bonds

00:37:02.560 and our debt that they just go to a couple of things, they, they go and say, you're not

00:37:08.460 going to get the federal insurance on this, unless you buy and balance us treasuries with

00:37:14.360 it.

00:37:14.480 You buy some of the debt.

00:37:15.680 Um, and also the same kind of thing is with uncle Sam and ESG, you, you won't be able to

00:37:23.660 get insurance unless you buy these certain things.

00:37:27.940 I mean, it's a possibility, but look at what they just did during COVID.

00:37:33.360 There were no international buyers.

00:37:35.440 There were no domestic buyers to stand by and buy trillions of dollars worth of bonds

00:37:40.320 to cover the spending that we did for quote unquote COVID relief.

00:37:44.200 Um, and that's why the fed bought it.

00:37:46.440 I mean, it was basically the monetization of the debt.

00:37:49.220 And obviously that's part of what caused inflation.

00:37:51.820 The thought process is that as they raise interest rates, start to just decrease the balance

00:37:57.480 sheet, they hit a wall, they can't do it anymore.

00:37:59.780 And they reverse course.

00:38:01.020 And we've seen this happen over and over again, over the last 12 years where, Oh, we're going

00:38:05.780 to shrink the balance sheet.

00:38:07.200 The market kind of freaks out, you know, the Congress has their spending plans and they change

00:38:12.100 course.

00:38:12.540 So the reality is, um, in terms of the cycle that there's some point in which they probably

00:38:18.680 end up changing and going back and buying more assets again.

00:38:23.180 Um, let me, let me, let me one more.

00:38:27.480 Question on the interest rates.

00:38:29.680 The St.

00:38:30.180 Louis federal reserve leader has come out and said, we need to raise interest rates immediately

00:38:35.980 by three points.

00:38:38.840 Um, that would bring us to 3.5 at the bank level.

00:38:44.000 Uh, what, how does the fed work?

00:38:47.860 Does the St.

00:38:48.620 Louis fed guy have much say?

00:38:50.780 What does that mean?

00:38:51.860 Um, well, we've been hearing from a number of people at the fed, including the, what who's

00:38:58.160 considered to be the, the most dovish or the one who's in most favor of a lot of support

00:39:03.780 and stimulus, Lyle Brainerd, who's up for vice chair of the fed.

00:39:07.080 And we've been hearing pretty much sheer panic out of them, which is not really comforting

00:39:11.860 for the market.

00:39:12.860 And it is so frustrating.

00:39:14.680 You should be so angry about this because they had so many opportunities where they could

00:39:19.960 start to raise interest rates or they could have pulled back the buying program, which

00:39:24.320 as we talked about, has the same impact in terms of rates.

00:39:27.940 They were buying securities up until last month.

00:39:31.500 So they could have stopped this a long time ago.

00:39:34.180 They could have had a nice slow trajectory, um, you know, 25 basis points here, 25 basis

00:39:39.620 put there.

00:39:40.020 They could have put us on a normalization path back in June of 2020, the market reached

00:39:44.060 all time high.

00:39:44.840 So this was not something in my opinion that was necessary.

00:39:48.660 Um, and you know, they just sort of didn't let a crisis go to waste.

00:39:51.820 And now the same people who created this situation, who didn't know there was going to be inflation,

00:39:57.400 who didn't realize all these things are going to happen are now promising.

00:40:00.300 They know exactly what to do to save us from, you know, this economic catastrophe or a

00:40:04.940 recession or whatever it is.

00:40:06.980 Um, and the idea that you can just all of a sudden start to run off the securities in

00:40:12.820 a major fashion or to jolt rates.

00:40:15.420 And that's not going to have major repercussions across the economy is absolutely insane.

00:40:23.380 Okay.

00:40:23.840 So I have a piece of good news that I want to run by you because I've seen this more than

00:40:28.360 ones and I would love to get your opinion on this.

00:40:32.800 We'll return in 60 seconds with Carol Roth.

00:40:35.640 Na, na, na, na.

The Glenn Beck Program - April 08, 2022

Best of the Program ｜ Guests： Michael Malice & Carol Roth ｜ 4⧸8⧸22

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