The Glenn Beck Program - April 12, 2024


Best of the Program ｜ Guests： Mike Pompeo & Carol Roth ｜ 4⧸12⧸24


Episode Stats


Length

44 minutes

Words per minute

156.37833

Word count

6,893

Sentence count

519

Harmful content

Misogyny

7

sentences flagged

Hate speech

11

sentences flagged


Summary

Summaries generated with gmurro/bart-large-finetuned-filtered-spotify-podcast-summ .

On today's show, Glenn Beck and Carol Roth are joined by Sen. Mike Pompeo (R-KS) and Sen. Chris Coons (D-VA) to discuss the vote on a bill that could see the government spying on Americans.

Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 We have a really important podcast for you to listen to.
00:00:03.380 Sorry, it's on a Friday, but I think we cover a lot of stuff with a perspective that not a lot of people are.
00:00:09.260 Carol Roth is joining us because I got up this morning.
00:00:12.100 I saw the price of gold.
00:00:13.220 It had skyrocketed overnight.
00:00:14.980 That is telling us a story that Americans really need to hear.
00:00:20.780 Also, Biden is just continuing to spend money, spend money.
00:00:24.500 Christopher Ruffo and I have been accused of having a fight, I guess, on X.
00:00:30.900 Last week, I responded to something that he said, and I thought we were on the same side.
00:00:35.680 He thought we were on the same side, but apparently people didn't.
00:00:39.400 And we have a very important message, the two of us, to deliver on today's podcast because we're running out of time.
00:00:47.700 Also, in our number two of the podcast today, Mike Pompeo and Mike Lee, they both are standing on the opposite sides of the FISA vote that is happening today.
00:01:01.020 Or if you would, depending on what time that you are listening to this podcast has already happened.
00:01:05.780 So we have that and so much more on today's podcast.
00:01:12.460 A very dangerous weekend that is coming our way.
00:01:15.860 You need the information that you'll hear in today's podcast.
00:01:19.140 Next.
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00:02:31.740 You're listening to The Best of the Glenn Beck Program.
00:02:37.060 Mr. Mike Pompeo, welcome back to the program, sir.
00:02:39.920 How are you?
00:02:41.420 Glenn, it's great to be back with you.
00:02:43.040 It's always a blessing to have some time to chat with you and the folks that listen to your show.
00:02:46.700 Thank you very much.
00:02:47.400 Now, Mike, I want you to know I'm a little skeptical of the FBI, Justice Department, and everything that's going on, but I really want to understand not only the threat that we're facing, but more importantly, what is going to stop this out-of-control government from spying on regular Americans?
00:03:10.580 Well, Glenn, two thoughts.
00:03:13.620 First, I know you're going to have Senator Leon.
00:03:15.680 He and I just have a different judgment about this.
00:03:17.800 I have enormous respect for him.
00:03:19.180 I consider him a friend.
00:03:20.140 I've campaigned with him and continue to do so.
00:03:23.100 But separate from that, let's just kind of walk through where I think we are.
00:03:26.320 First, you should have more than a little skepticism about the FBI and the power of government more broadly.
00:03:32.160 That's why I ran for Congress the first time the awesome power of government was being misused, mostly against conservatives, people like you and me and the folks who are most of the folks who are listening to this.
00:03:41.660 Right.
00:03:41.760 I also had first-hand experience trying to do the job to keep Islamist radicals from killing Americans.
00:03:51.560 And so I was always trying to be respectful of that duty and deeply honoring of the Constitution to get there.
00:03:58.720 And I think today what the House of Representatives is considering accomplishes that as best one can.
00:04:05.060 Look, there's always going to be Jim Comey's of the world and Jim McCabe's until you get the right leadership.
00:04:08.860 Those are the kind of people who may be in charge, and we ought to punish them when they violate the law.
00:04:13.580 But we ought to do so with a set of rules that make sure that we don't have kids in Phoenix or Milwaukee or Wichita, Kansas, my hometown, at risk from terror.
00:04:23.160 And I think the reforms that they're voting on today move us in the right direction there, and hopefully they put in harsher criminal penalties.
00:04:31.300 I hope they'll be enforced.
00:04:32.580 They reduce the number of people who can have access to any Americans' information.
00:04:36.480 I hope those rules will be enforced.
00:04:38.860 And then I pray that we will continue to do the hard work to keep terrorism at bay as well.
00:04:43.440 So with a lot of respect to you, and I hope I'm not—I hope you take this in the spirit in which it's intended and not to compare anybody or anything to these times.
00:04:55.040 But we are looking at terrorism, and I believe it is coming, and I believe, God forbid, it's something more like Beslin than anything else we've seen. 1.00
00:05:05.280 And, you know, when you're talking about saving the Republic and saving people, it is a very thin line.
00:05:14.520 The Night of Long Knives, Hitler knew he had violated the Constitution. 0.86
00:05:20.260 He had another reason for doing it.
00:05:22.980 But he came out and said, look, the Republic was at stake, and if I had to do it all over again and violate the Constitution, I'd do it again.
00:05:30.460 And you may decide that I shouldn't be in office.
00:05:33.400 I mean, he took a very, very, you know, wonderful stance on, you know, being the savior of the Republic.
00:05:41.480 Well, what happened is they just agreed with him and congratulated him and actually gave him, you know, a higher position.
00:05:50.280 You can't violate the Constitution to save the Republic.
00:05:55.860 If you violate the Constitution, you are harming the public.
00:06:00.180 The reason why I say this with the Night of Long Knives is who went to jail?
00:06:07.080 The people who were lying to the FISA courts, they were promoted.
00:06:13.040 They weren't fired.
00:06:14.760 They weren't jailed.
00:06:16.000 So we can have all of these laws you want and all of these things in the new bill.
00:06:22.240 But if you don't have people who are going to enforce it, it doesn't matter.
00:06:28.040 Doesn't matter.
00:06:29.120 Does it?
00:06:31.120 Glenn, I completely agree with you.
00:06:33.260 And in some ways, that makes my point.
00:06:35.120 Like, imagine that we don't renew FISA for a moment.
00:06:38.360 You think you're going to stop bad actors, right?
00:06:40.840 So imagine you don't enhance the criminal penalties and you give free access.
00:06:44.880 By the way, if there's no FISA reform, we won't reduce the number of people with access.
00:06:48.480 They'll just go do that. 0.59
00:06:50.460 And so my view has always been, you know, put transparency in wherever you can.
00:06:55.080 Put checks and balances, just like the framers, just like the Constitution talked about.
00:06:58.840 So this bill would give Congress oversight.
00:07:02.120 It makes a little bit in the weeds, but it gives Congress transparency in a way it doesn't have.
00:07:08.160 Look, none of this will be perfect, Glenn, without the right people in power.
00:07:12.440 You're exactly right.
00:07:13.160 They get MSNBC contracts instead of prison time, folks like McCabe and Comey.
00:07:18.560 I came at this as a libertarian when I first entered public service.
00:07:22.480 I know the office of power and fear U.S. government overreach.
00:07:26.300 I think this set of reforms puts a set of provisions in place that are, in fact, constitutional.
00:07:32.440 And then the question is, will the people enforce those rules in a way that protects our privacy and preserves our Constitution?
00:07:38.300 That's the question we faced in November, Glenn, whether this provision passes today or not.
00:07:42.780 So tell me why the push for this without saying that the American people, if you go into the American people, you have to have a warrant.
00:07:52.640 And, you know, and people are like, well, it's not going to be a problem.
00:07:55.480 Then why did Congress have a carve out in this bill to protect them from warrantless searches, but not me?
00:08:03.900 First of all, first of all, sign me up for no carve outs for any member of Congress for anything, having served for, what, six years.
00:08:13.120 You see this a lot of places.
00:08:14.920 I don't know the history.
00:08:16.160 I got in there.
00:08:16.920 Take it out.
00:08:18.440 Every American should be treated precisely the same with respect to government power, especially with respect to government power.
00:08:23.820 So I think that's an enormous mistake.
00:08:26.080 The warrant requirement itself doesn't fit the purpose of what is really at the heart of 702.
00:08:35.180 Remember what this does.
00:08:36.500 It is a provision that allows the U.S. government to go chase bad guys on foreign soil.
00:08:42.060 That's 99.9% of its activity.
00:08:45.160 It's true, Glenn.
00:08:45.840 If I pick up the phone and call terrorists today, it's going to capture my data as well.
00:08:49.940 And the idea is, how do you anonymize, how do you minimize, how do you throw that data out so you protect that?
00:08:58.000 And these provisions try to do that, Glenn.
00:08:59.720 It's never perfect.
00:09:01.160 I could go through a list of questions that's not perfect.
00:09:03.880 It's law today.
00:09:05.080 But if you ask, is this materially better than where we sit today?
00:09:09.180 And does it still preserve the capacity to protect families?
00:09:12.960 I think I'm balanced.
00:09:14.100 This is a win.
00:09:14.920 It preserves our constitutional rights so long as we have the right people there.
00:09:18.360 And, Glenn, you know, we have to be honest.
00:09:20.580 If you have the wrong people there, there's no law.
00:09:23.740 Whether you pass it, there's no law that's going to protect those rights.
00:09:26.460 And so that's the conundrum that we face as a republic.
00:09:29.920 And I watched what happened from the IRS while I was in Congress where they came after conservatives.
00:09:35.540 I watched what's happened to DHS where they're not preserving our border, our basic constitutional freedom and sovereignty.
00:09:41.600 I think we ought to pass this legislation, and then we ought to get the right people there, and we ought to punish like hell anyone who violates not only these provisions, but any part of the United States statutory law or its constitution.
00:09:55.580 So tell me, what's the teeth in this?
00:10:02.940 There are six additions to the teeth, if you will.
00:10:06.920 The first one I described briefly, which is we have these FISA courts.
00:10:10.600 They're secret courts.
00:10:11.880 This will transcribe those proceedings and give Congress the ability to read the transcripts of those proceedings.
00:10:16.980 Second, there are far too many people with their hands, with access to not only the foreign data, but any ancillary American data that gets picked up.
00:10:25.440 This takes out about 90% of the human beings and puts additional executive branch oversight into that as well.
00:10:31.800 And then it ups the criminal penalties, a handful of criminal penalties.
00:10:35.000 That is, go to jail, no BS penalties.
00:10:37.820 You've got to have an attorney general that's going to enforce it.
00:10:39.720 That's true for everything, Glenn.
00:10:41.060 Again, I hope we'll get the right attorney general who will not only go after someone who does it tomorrow, but will chase those folks who did this in the past to President Trump and to others in the administration.
00:10:53.140 Mike, can you give me a reason why the bill to get the carve-outs out and to require any American that is caught up in this,
00:11:07.500 that they have to go back to the court and get a warrant for those people?
00:11:12.920 Can you tell me why so many Republicans and Democrats didn't want that in the bill at all?
00:11:20.500 It doesn't make sense.
00:11:23.160 The carve-out provision, I can't, I have no articulable reason.
00:11:27.020 I'm setting up for not being able to understand that.
00:11:30.820 Second, when it comes to the warrant provision,
00:11:33.700 I have to be a little careful here.
00:11:35.800 When it comes to the warrant provision,
00:11:37.660 I hope the American people will appreciate that the law,
00:11:41.220 whether it's enforced or not, is a separate question.
00:11:43.000 But the law itself provides adequate protection for Americans who come up against this.
00:11:48.460 And I wish I could say more, but I'll stop there.
00:11:50.600 Wait, wait, wait, wait, wait.
00:11:52.120 It didn't with Donald Trump.
00:11:55.180 No, well, the law, had it been enforced, actually would have provided that, Glenn.
00:12:00.120 And had the attorney general enforce the provisions, again, you can't stop bad actors,
00:12:05.780 but it would have punished those very bad actors.
00:12:08.800 And all the things that happened in Crossfire Hurricane,
00:12:12.100 which I think is what you're largely referring to here,
00:12:14.760 all the things that happened in Crossfire Hurricane were unlawful.
00:12:18.360 They violated both civil and criminal penalties.
00:12:20.460 And the challenge was you had bad actors and an attorney general who refused to enforce that
00:12:25.120 against a Republican conservative president.
00:12:27.680 When you say that there are, you know, significant penalties,
00:12:31.820 like what kind of jail time would people be looking at
00:12:36.420 if they violated the Fourth Amendment right of a citizen of America?
00:12:42.240 Do you know?
00:12:43.240 Intentional violations, yeah, I do.
00:12:45.340 I do, Glenn.
00:12:46.220 I don't know the exact number, but it is a decade plus for intentional violation
00:12:50.800 and years for anybody who violated, but intent becomes difficult to prove.
00:12:56.060 So real jail time for real bad actors.
00:12:58.940 And then second, Glenn, the other thing it does is it holds responsible their bosses,
00:13:03.420 the leadership inside these organizations as well.
00:13:06.580 If there are failures that they should have reasonably known were taking place
00:13:12.280 and they didn't put in internal policies to prevent that,
00:13:15.080 it holds those people responsible too.
00:13:17.160 So not just the bad actor who goes in to look for their girlfriend's cell phone contact information,
00:13:23.260 but it holds responsible the supervisors, the bosses, the senior leaders at the FBI
00:13:27.340 and at the Justice Department who are responsible for not holding accountable
00:13:31.520 the people that work for them as well.
00:13:33.800 Mike, you're in a tough position.
00:13:36.420 I mean, we all are.
00:13:37.400 We all are.
00:13:38.120 Because you're right.
00:13:38.980 If we could pass any law.
00:13:40.680 America's in a tough place, Glenn.
00:13:41.700 I agree.
00:13:42.020 How real is the threat from the inside of, you know, from Iran and everything else? 1.00
00:13:53.800 How real is the threat today?
00:13:57.000 Very real.
00:13:58.360 I try not to be hyperbolic, not around every corner.
00:14:02.680 But do you now have multiple countries, Iran, Russia, the Chinese Communist Party,
00:14:09.280 certainly all the terror groups, al-Qaeda and the like,
00:14:12.020 all who have free and ready access inside of our borders today
00:14:15.080 because President Biden has encouraged unlawful immigration.
00:14:18.880 We now have hundreds of thousands of potential terrorists inside the gates.
00:14:23.400 And we know we have a couple of hundred that we've identified on the terror watch list already.
00:14:27.580 This risk is serious.
00:14:29.380 And we ought to be serious in making sure we respond to it.
00:14:31.960 Are we, do you have confidence that if something happens,
00:14:35.920 we're not going to be, you know, going after MAGA people
00:14:40.580 because they're also terrorists and, you know, and people who spoke out at the school board?
00:14:48.360 I don't have confidence with Attorney General Garland there.
00:14:52.520 I've watched him talk about extremists in the Catholic Church,
00:14:56.160 watched him talk about extremists inside of our military
00:14:58.260 in ways that are fundamentally disconnected from reality.
00:15:00.940 I worry about the leadership, right, decision-making leadership.
00:15:04.600 There's no doubt about that.
00:15:06.220 I don't know what law one passes, Glenn, to stop that.
00:15:09.860 I wish I thought there was a piece of legislation or some brilliant idea,
00:15:14.480 but our founders knew how to get at this.
00:15:16.600 Our founders knew that with enough transparency and enough checks and balances
00:15:20.880 and then an educated republic that was prepared to go out and do their duty
00:15:25.200 and vote for good leaders,
00:15:26.800 you increased the likelihood that our republic would survive another 250 years.
00:15:30.540 I am deeply worried about it, Glenn.
00:15:32.800 Mike, thank you so much.
00:15:34.420 Thanks for a civil conversation on this.
00:15:36.480 I appreciate it.
00:15:37.580 God bless.
00:15:38.660 You bet it, Glenn.
00:15:39.440 Have a great weekend, sir.
00:15:40.440 You bet.
00:15:41.020 Mike Pompeo, former U.S. Secretary of State, former CIA director.
00:15:44.340 This is the best of the Glenn Beck program,
00:15:47.900 and we really want to thank you for listening.
00:15:51.200 Carol Roth, I know we have a lot to talk about,
00:15:53.660 so just quickly, I woke up this morning looking at gold prices
00:15:58.620 and was kind of impressed on how they're skyrocketing,
00:16:04.820 and I remember a conversation with a gold guy who said,
00:16:07.820 don't ever, ever look at gold and say,
00:16:12.160 gee, I hope it goes up because of my portfolio.
00:16:15.740 And we were talking about $3,000 an ounce,
00:16:17.960 and he said, do you realize how crazy the world has to be
00:16:21.360 for gold to be at $3,000 an ounce?
00:16:23.620 It's over $2,400 now.
00:16:25.280 We're headed there quickly.
00:16:27.980 Yes, I remember a discussion that you and I had with a group of people,
00:16:32.000 I believe, in November of last year when people were saying a similar thing.
00:16:36.780 When is gold going to break out?
00:16:38.840 And you and I were both communicating the idea that gold is really a hedge
00:16:43.380 against all kinds of insanity, things like inflation,
00:16:47.320 things like the crumbling standing of the dollar, things like war.
00:16:52.760 And so when you see that gold continues to rise,
00:16:57.360 even in the face of things like rising yields on bonds,
00:17:01.220 I mean, normally there's a little bit of pushback there.
00:17:03.860 We saw that as bond yields had gone up,
00:17:06.160 people were moving away from gold
00:17:08.340 because you weren't getting that same interest rate.
00:17:11.580 Gold doesn't produce an interest rate.
00:17:13.660 So there's a different reason why we are looking at gold.
00:17:17.920 And some of the things that we're talking about are a bit more structural.
00:17:21.460 Perhaps gold playing a bigger role in things like settling international commodities,
00:17:26.800 these trades and trading between countries, particularly the BRICS nations.
00:17:32.800 But again, all of the things that are these signals, none of them are good for us here in the United States.
00:17:39.900 If the signal is, oh, well, it's just because of trade, well, that's not good for the U.S. dollar's reserve currency,
00:17:45.980 and that's not good for inflation over the long term and our purchasing power.
00:17:51.300 So all of these things do have a mechanism.
00:17:53.900 And when you see so much interest in gold over the past few months,
00:17:59.320 when it has been very steady for a while,
00:18:02.980 that breakout is giving you additional information.
00:18:07.040 And like you said, in this particular case,
00:18:09.060 I think that information is coming from lots of different places.
00:18:12.080 And not one of them is good.
00:18:15.440 One of them that is, you know, we're hitting the point where our debt,
00:18:21.800 the interest on our debt is going to be $1.6 trillion a year.
00:18:27.060 That's more than Social Security.
00:18:28.920 It's the biggest lie.
00:18:29.940 It will be the top line on our budget now is just the interest
00:18:34.700 because we have an adjustable mortgage in America.
00:18:37.700 And the Fed, I think, is out of bullets.
00:18:44.060 Yeah, I've been making this argument now for a couple of years
00:18:48.100 that the Fed's monetary policy isn't effective
00:18:52.160 because they are trying to control demand.
00:18:56.280 And so many of the issues that we've had are on the supply side.
00:18:59.920 Additionally, we had been headed,
00:19:02.040 and I kind of think we're in today, this period of fiscal dominance.
00:19:06.300 And as we've talked about before,
00:19:07.860 that just means that fiscal policy plays a bigger role
00:19:12.320 in what is determining economic outcomes than monetary policy.
00:19:16.860 On its face, that is sort of neutral fiscal dominance.
00:19:20.740 But in our particular situation, it's very bad.
00:19:23.800 It's because of the debt.
00:19:25.260 It's because of the deficits.
00:19:27.160 And it's because of the fact that we have these massive interest payments
00:19:30.300 and continuing deficits that need to be financed
00:19:33.320 and are creating this vicious loop.
00:19:35.040 And as we know, there's not a lot of ways to finance the debt.
00:19:40.720 There certainly are not a lot of buyers.
00:19:43.500 And we saw that this week.
00:19:44.760 There was a treasury auction for 10-year treasury notes that did horribly.
00:19:49.440 It was rated a D by Brooke Santelli at CNBC, who's very, very smart.
00:19:55.260 D, by the way, I don't know if you know this, is right next to F.
00:19:58.320 So that is a very bad position to be in.
00:20:00.980 And we've always been triple A, haven't we?
00:20:04.520 Were we always, I mean, 10 years ago?
00:20:08.040 The debt, so there's a debt rating, and that's done by the rating agencies.
00:20:11.920 These are the bond auctions.
00:20:13.500 This is when the treasury goes out to the market and says, you know,
00:20:17.440 how is it that, you know, how did we do?
00:20:19.960 How many buyers were there who were standing on by who want to buy our debt?
00:20:25.580 Okay.
00:20:25.820 And so this happens on a regular basis.
00:20:27.980 And, you know, people who watch this, they give those auctions a grade to say,
00:20:31.880 how did we do?
00:20:32.560 Were there a lot of buyers?
00:20:33.440 Were there not a lot of buyers?
00:20:34.840 So this particular time, there were not a lot of buyers.
00:20:37.980 And the banks and securities dealers had to sop up a lot of that debt, which just is,
00:20:44.420 you know, it's pushing us to this path of monetization, again, that we've been talking
00:20:48.920 about.
00:20:49.540 And that means that we're buying our own debt, and that is inflationary.
00:20:53.720 So even if we're not getting things like rate cuts that potentially could stoke inflation,
00:20:59.120 you're going to get this monetization of debt, which is inflationary,
00:21:03.940 which is why I've been arguing that inflation is sticky, and it doesn't matter if the Fed
00:21:08.040 goes high or low.
00:21:09.280 It's getting us on either side until the government gets its act together.
00:21:14.340 They are driving the show.
00:21:15.640 It is that fiscal dominance.
00:21:18.200 Tell me about the consumer price index and the wholesale index.
00:21:24.620 The numbers don't make sense.
00:21:26.720 For instance, fuel is not an inflation.
00:21:32.340 It isn't in inflation right now.
00:21:34.640 Look at the price of fuel.
00:21:37.340 What do they mean?
00:21:39.140 So you know who loves the data coming out of the government right now, Glenn?
00:21:43.860 The government.
00:21:44.920 Oscar the Grouch.
00:21:46.200 You know why?
00:21:46.880 Because the data is trash.
00:21:48.400 It is absolutely trash data.
00:21:51.700 Not only have we seen adjustments on a regular basis, the scope of which we have not seen in
00:21:58.240 a long time.
00:21:58.680 The numbers always get adjusted, but we have not seen these massive adjustments that we've
00:22:05.240 been seeing.
00:22:06.100 We also have a phenomenon where people and entities who respond to the surveys, where
00:22:12.680 they collect the data, don't want to do that anymore.
00:22:15.480 Either they don't want to be bothered, they don't trust the government with their data,
00:22:18.840 whatever it is.
00:22:19.700 They don't want to give up their competitive advantages.
00:22:21.460 So they're having fewer people respond to these surveys, which means that there is more of
00:22:27.640 this projection and biases in the survey.
00:22:31.980 So that's why we saw the CPI, which is the Consumer Price Index, that's where they go out
00:22:37.120 and they survey households.
00:22:39.120 That came in higher than expected.
00:22:42.460 We all expected that it would be an uptick because, as you said, we know the price of oil
00:22:48.540 and other commodities have been going up.
00:22:50.540 So this was not a surprise to any of us who live in the real world.
00:22:54.660 And so that was somewhat reflected in that data.
00:22:58.860 And certainly the market had reacted to that and said, oh, well, if that's the case, the Fed
00:23:03.640 can't cut.
00:23:04.660 Then we have another measure of inflation because they measure it in different ways.
00:23:08.940 And this is the Producer Price Index, PPI, which is the wholesale measure of inflation.
00:23:14.180 And this is supposed to tell you what's coming because, you know, the inputs that go into
00:23:18.700 your goods and services give you a sense of what's coming down the pike.
00:23:23.940 And this was the one that was the head scratcher because it was not high.
00:23:28.240 There's a huge disconnect between these two measures always, but even a bigger disconnect.
00:23:33.760 But the one, as you said, that everybody was going, what's going on here related to energy.
00:23:39.080 So there was a floating around social media yesterday, there was a chart about the seasonal
00:23:44.940 adjustments.
00:23:45.760 Again, this manipulation of the data that they do.
00:23:49.140 And if you looked at that, it showed you that gasoline for the month was down 3.6 percent.
00:23:56.240 I think it was.
00:23:57.660 But if you didn't, right.
00:23:59.840 So if you didn't seasonally adjust it, it would have been up 6.3 percent.
00:24:05.720 That's a really big swing.
00:24:07.420 That's like a 10 percent swing between the two of them.
00:24:11.420 So, again, Oscar the Grouch data here.
00:24:14.700 Certainly, we're going to get another measure in a couple of weeks here, one called the PCE,
00:24:20.300 the Personal Consumptions Expenditures Index.
00:24:23.180 This is the Fed's quote unquote favored measure.
00:24:26.980 I don't know.
00:24:27.560 Maybe they like the people who do it better.
00:24:29.280 It's a little bit more broad.
00:24:30.480 But that's what they tend to make their policy decisions on.
00:24:34.060 But the media and everybody is focused on the CPI.
00:24:37.060 So it makes it very difficult for them or at least adds another layer of difficulty because
00:24:42.080 they're going to do whatever it is that they want to do when that is going up for them to
00:24:46.660 say, well, inflation's under control.
00:24:49.060 You know, we can go ahead and start to cut interest rates, which is why I think everybody
00:24:53.480 needs to be paying attention to their other tools, which relate to the balance sheet and
00:24:59.380 debt and what they're going to do there, because that's just a different way of them to be accommodative.
00:25:05.000 They're not going to do anything there.
00:25:06.520 I mean, he's not addressing inflation.
00:25:09.420 Biden is spending more.
00:25:11.140 He's now, you know, again, forgiving more debt, trying to get people into houses.
00:25:17.740 I mean, he is.
00:25:19.660 We are just giving away the store at this point.
00:25:23.020 They are.
00:25:24.240 We've been saying this since day one.
00:25:26.220 They have been working in the opposite direction.
00:25:28.900 If you wanted to help the Fed get inflation under control as the government, you should
00:25:35.260 have been working with them.
00:25:36.800 You should not have been running up deficits.
00:25:39.140 You've been doing putting into place policies that help supply issues instead of hurting supply
00:25:44.900 issues.
00:25:45.960 Every single thing this administration has done has been a barrier not only to you keeping
00:25:52.260 your wealth and your purchasing power to what it is the Fed has been doing.
00:25:56.680 And that's the fight that the Fed's been having.
00:26:00.020 And I just think at some point they're going to need to be real explicit and say, we can't
00:26:05.640 do anything until our partners get on the same page.
00:26:09.020 But, you know, everything's political.
00:26:11.040 So, you know, that's not going to happen.
00:26:12.780 All right.
00:26:13.340 When we come back, she's actually been invited to be somebody who testifies in front of Congress.
00:26:21.860 Carol Roth in front of Congress testifying as an expert by the end of the month on small
00:26:28.160 businesses.
00:26:29.200 And she's going to be talking about the FinCEN, you know, thing that's going on with LLCs and
00:26:36.740 small businesses where you have to register all this information or you're a criminal.
00:26:42.700 Yeah.
00:26:43.300 And it's going to devastate small businesses, small LLCs, et cetera.
00:26:49.260 And it affects so many people.
00:26:51.340 She's going to be testifying.
00:26:52.740 But here's the good news.
00:26:54.420 She wants to use information that maybe you have to back up her testimony.
00:27:01.500 This is the best of the Glenn Beck podcast.
00:27:06.660 It's a compilation of clips from various episodes.
00:27:08.980 If you want to dig deeper into this interview, check out the full podcast episode.
00:27:14.220 Batten down the hatches. 0.65
00:27:15.680 That is my theme today.
00:27:18.220 Batten down the hatches. 0.65
00:27:19.540 I have told you in the past what I think is coming, and I hope I'm wrong.
00:27:24.380 I hope I'm wrong.
00:27:25.300 But things will change very rapidly if I am right.
00:27:30.420 And when this – and I don't know what the final domino will be that will have to fall.
00:27:35.760 It will just start it all collapsing on us.
00:27:40.400 But there's a domino on the horizon, and it is a – it's growing closer and closer.
00:27:48.440 The U.S. today is approaching the Minsky moment of issuing $1 trillion of debt every 100 days.
00:27:57.900 Now, why is this such a bad moment?
00:28:01.660 Well, because as we do that, the interest on the U.S. debt, now at $1.1 trillion,
00:28:09.560 is about to surpass Social Security spending and become the single largest government outlay before the end of the year.
00:28:19.660 This is something I remember – in fact, I have a speech in our library here, handwritten by Gerald Ford, 1975 maybe,
00:28:33.240 where he's talking about this is out-of-control spending back then,
00:28:38.180 and we will not be able to pay for that at some point.
00:28:43.300 We've got to stop.
00:28:44.820 Ever since then, we have just accelerated.
00:28:48.940 We're talking $1.6 trillion in interest alone.
00:28:54.840 Now, you know what it's like when – if you have an adjustable mortgage.
00:28:58.640 If you have an adjustable mortgage right now, you're pretty screwed.
00:29:03.120 If you don't have an adjustable mortgage, you're not worrying about it.
00:29:07.340 But the United States government has an adjustable mortgage.
00:29:10.940 And so, we are headed towards a place where you're just not able to keep up with it.
00:29:18.780 So, last night, something happened.
00:29:21.700 Something happened that is quite bizarre.
00:29:25.940 In the finance world, they say there are decades where nothing really happens.
00:29:33.360 And then, there are times where, in a few weeks, decades happen.
00:29:41.020 I think we're entering that time.
00:29:42.880 You're going to see very bold movement on a lot of things.
00:29:48.540 My grandfather taught me – he lived through the Great Depression.
00:29:53.440 If we only would have known what the Rockefellers knew, things would have been a little better for us. 0.91
00:30:01.080 But we didn't.
00:30:02.100 The Rockefellers did. 0.96
00:30:04.920 The Rockefellers moved their money, did the things that they had to do prior to all of this thing – all of these things happening.
00:30:16.040 Last night, gold surged higher to an all-time high.
00:30:22.380 Then, it spiked another $15 in a matter of seconds.
00:30:28.940 And now, just in a matter of hours, if not minutes, the spot price of gold is up to $2,400.
00:30:38.700 Now, this is where it was this morning, two hours ago.
00:30:43.340 I'm looking at the gold price now.
00:30:45.820 It is up another $15 currently.
00:30:52.940 The June contract just hit a new all-time high.
00:30:56.920 People saying that they are betting that gold is going to be about $2,406.09 by June.
00:31:06.480 As of right now, it is already $2,415 per ounce.
00:31:19.380 This is the biggest move that gold has made since the 1970s.
00:31:26.200 We have been waiting and waiting and waiting to see what is going on.
00:31:31.100 Bitcoin already took off.
00:31:33.800 Bitcoin's been going for a while.
00:31:36.360 They do everything they can to suppress the price of gold.
00:31:40.600 The government knows, all the governments know, that this is an issue.
00:31:46.840 When people start to see gold go up, people at least that are my age, realize what that is really all about.
00:31:54.840 Especially since the government suppresses the price of gold.
00:32:01.800 So, what does all of this mean?
00:32:04.620 This means buckle up.
00:32:07.380 Buckle up. 0.96
00:32:08.080 People who, and it's mainly the central banks.
00:32:12.800 Central banks are buying up gold like it's nobody's business.
00:32:17.840 You know which central bank is not buying up gold?
00:32:21.260 Us.
00:32:23.160 China loading up on gold.
00:32:25.320 Russia loading up on gold.
00:32:27.180 What is the United States doing?
00:32:28.880 Nothing.
00:32:30.220 Nothing but spending.
00:32:33.040 So, there's a couple of things that are coming our way.
00:32:35.900 Either another QE, another quantitative easing, where they're just going to come in and do what they did in 08, and do what they did over and over and over again, which is only going to make things worse.
00:32:49.860 Or what?
00:32:52.040 Or what?
00:32:54.940 Fix it?
00:32:58.200 Gold is smelling something.
00:33:00.080 And we are headed for real trouble.
00:33:05.860 Now, as you look at this, and you know that our financial house is way out of order, we're going to talk about the economy in a couple of hours on today's podcast.
00:33:21.900 Today is a don't-miss podcast, because it all revolves around a couple of themes.
00:33:27.460 And the major theme is, what's coming next?
00:33:33.260 Batten down the hatches. 0.65
00:33:35.060 What is coming in the next few months, between now and Christmas, that you need to be aware of?
00:33:43.600 Well, the FBI chief has now warned of a coordinated attack.
00:33:49.320 Christopher Wray was testifying, saying that the FBI is growing increasingly concerned about a potential attack in the U.S., similar to last month's Russia concert hall shooting.
00:34:00.300 Now, let me ask you, when somebody goes into a concert hall, a group of people go into a concert hall, and they start shooting Americans, just slaughtering them.
00:34:16.240 When they go into a mall, and they just start slaughtering people.
00:34:22.220 They go into a school, and they start slaughtering people, and this is all happening in a week or two.
00:34:27.960 What do you think the American people are going to do?
00:34:32.800 Do you think we're going to sit on our hands?
00:34:35.940 What do you think the government will do?
00:34:39.360 Well, they'll be looking for mis- and disinformation.
00:34:42.180 That's for sure.
00:34:43.500 They'll be looking for anybody who is talking about, you know, real trouble with the economy, because we're really fragile right now.
00:34:51.180 Anybody starting to talk down the economy, starting to say things like, we can't afford what we're doing, and this is going to disrupt the economy in a global way.
00:35:04.180 Of course, they'll have to say that that is nonsense and dangerous to say, etc., etc.
00:35:09.880 And then they'll start looking for the bad guys.
00:35:16.740 But what do you do in a country where the bad guys are known, and nobody's doing anything about it?
00:35:24.740 Let me tell you this story came out.
00:35:26.660 An illegal alien from Afghanistan, who's a member of the Islamic terrorist group, is roaming the streets now in America.
00:35:33.980 We had him, but ICE decided not to tell the judge anything about his terrorist activities, and so he's loose on the streets of America.
00:35:46.680 We don't know where he is.
00:35:48.320 Listen to this from NBC.
00:35:51.840 Tonight, an alarming development in the border crisis.
00:35:54.840 Among the record number of migrants crossing the southern border was a member of an Afghan terror organization,
00:35:59.920 who was released into the U.S. by border agents, according to U.S. officials.
00:36:05.020 48-year-old Mohamed Harwin illegally crossed into California in March of last year.
00:36:10.040 His name is on a U.S. terror watch list, identifying him as a member of HIG, a terror group that's killed Americans in Afghanistan.
00:36:18.200 Border agents suspected he was on the watch list at the time of his apprehension, but lacked corroborating information, according to U.S. officials.
00:36:25.420 CBP released him without contacting the FBI or Immigration and Customs Enforcement, those officials told us.
00:36:32.400 Harwin was allowed to apply for work authorization and board planes in the U.S., according to those officials.
00:36:38.060 After almost a year, ICE arrested him here in San Antonio.
00:36:41.860 But when he went to court, U.S. officials tell us, ICE officials withheld classified information about his terrorism ties.
00:36:48.620 A judge ordered him released on $12,000 bond, which he posted and was freed last month.
00:36:53.820 Harwin's case appears to be just one of at least three incidents in the past two years involving suspected terrorists being released by Customs and Border Protection, according to the DHS Inspector General and Congress.
00:37:07.460 So we had him.
00:37:08.880 Now, if you were watching this on the Blaze TV, you would notice that there was a shadow picture of him.
00:37:16.500 How do we not have a picture of him?
00:37:18.360 Why are we not showing the picture of this guy?
00:37:21.140 Why?
00:37:21.440 So we can protect his identity?
00:37:25.920 His privacy?
00:37:29.500 So you have this going on where we know terrorists have come across the border.
00:37:34.840 Who do you think is going to get the blame for a terrorist attack?
00:37:37.580 It will not be those people who kept the border open.
00:37:41.880 They will see to that.
00:37:43.580 They will immediately clamp down.
00:37:46.340 Meanwhile, we have, well, we have a whole area that used to be one of the greatest areas in America for industrial production.
00:37:57.800 We now have, it's Jihad City, as the Wall Street Journal calls it. 0.82
00:38:02.440 Here's Rashida Tlaib, who represents that community where they had a death to America chant and talking about and extolling the words of the Ayatollah of Iran, 0.95
00:38:20.520 who is promising to hit America, here was, if you remember, last weekend, death to America, death to Israel, death to America. 0.85
00:38:30.620 America is the real problem. 0.92
00:38:32.460 So the Congresswoman that is answers to those people, here's what she said when approached. 0.96
00:38:42.980 Can you just explain, you know, can you condemn death to America?
00:38:46.720 Congresswoman Tlaib? 0.98
00:38:48.240 I don't talk to Fox News.
00:38:49.080 I don't talk to Fox News.
00:38:50.540 At a rally in your district, people were chanting death to America.
00:38:54.200 Do you condemn?
00:38:55.200 I do not talk to Fox News.
00:38:56.660 Do you condemn chants of death to America?
00:38:58.960 No, she doesn't talk to Fox News.
00:39:00.020 I don't talk to people that use racist tropes.
00:39:02.240 Okay, okay, stop.
00:39:04.660 So racism is worse than death to America.
00:39:11.780 She's using that as an excuse to not answer the question.
00:39:16.720 Okay, all right.
00:39:22.080 Now, Biden said yesterday, I used to teach the Second Amendment in law school.
00:39:28.500 From the very beginning, there were limitations.
00:39:31.500 Uh-huh, uh-huh.
00:39:32.640 Okay, so wait, what are we doing here?
00:39:36.100 Biden is saying he is going to go after people's guns.
00:39:40.060 He is going to take executive action on people's guns.
00:39:44.500 If there's a terrorist attack, if somebody goes in and just shoots up a mall, what do you think this president will do?
00:39:54.400 Of course he's going to take your guns.
00:39:57.260 We are in a situation where the streets are more dangerous than any time I remember in my lifetime.
00:40:03.580 The government is out of control in a way I've never seen, nor would I ever have predicted 30 years ago.
00:40:11.920 Couldn't happen in America.
00:40:14.180 Well, it's happening.
00:40:15.580 And what is the government doing?
00:40:17.300 The government is taxing you to death through the hidden tax of inflation.
00:40:22.180 They're making it damn near impossible for you to have your own business or start your own business or even keep your own business.
00:40:31.140 They are importing jobs, left, or not, sorry, not jobs, workers, low-paying workers who are working in slave conditions. 0.63
00:40:44.840 Why?
00:40:48.000 Because they can't call anybody if they're being abused.
00:40:52.240 Who are they going to call?
00:40:54.120 You think people are like, you know what, you should call a labor union.
00:41:00.080 So they're working in slave conditions.
00:41:03.080 There are foreign, foreigners are responsible for almost all of the job growth in America. 0.99
00:41:11.140 So you have terror coming.
00:41:19.860 You have out-of-control spending.
00:41:21.700 You have the government taking our jobs and the government also wanting to take our guns.
00:41:29.680 This has happened before.
00:41:31.480 In fact, let me play a clip here.
00:41:34.840 This is from a woman who is from China, moved to the United States.
00:41:41.220 She's an immigrant, legal immigrant.
00:41:43.580 She's talking gun control with David Hogg.
00:41:47.840 Listen to what she said.
00:41:49.220 Hi, my name is Lily Tang Williams.
00:41:51.720 Welcome to my live, free, or die state.
00:41:55.880 Actually, I am a Chinese immigrant who survived communism.
00:41:59.600 And under Mao, you know, 40 million people were starving to death after he sold communism to them.
00:42:06.480 And 20 million people died, murdered during his cultural revolution.
00:42:11.780 So my question to you, David, is that can you guarantee me, a gun owner tonight,
00:42:18.080 our government in the U.S., in D.C., will never, never become a tyrannical government?
00:42:25.720 Can you guarantee that to me?
00:42:27.220 There's no way I can ever guarantee that any government will not be tyrannical.
00:42:31.000 Well, then the debate on gun control is over, because I will never give up my guns.
00:42:37.120 Never, never.
00:42:38.140 And you should go to China to see how gun control works for dictatorship of the CCP.
00:42:47.720 Trouble is coming.
00:42:49.340 You don't need to fear.
00:42:51.920 It's not a surprise to God.
00:42:54.740 He has things under control.
00:42:57.220 We have to remain under control.
00:43:00.220 But for the love of God, please, mentally prepare, spiritually prepare, and temporally prepare.
00:43:12.580 Make sure your family can survive the things that come, no matter what they are.
00:43:19.300 That you can be a help to others.
00:43:22.220 There is nothing more important right now, I don't care what it is,
00:43:29.060 than getting yourself spiritually and temporally prepared for what is coming next.
00:43:36.360 Nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah.
00:43:39.260 Nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah.
00:43:39.820 Nah, nah, nah, nah, nah, nah, nah, nah, nah.
00:43:40.320 Nah, nah, nah, nah, nah, nah.
00:43:40.620 Nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah, nah.
00:43:40.760 Nah, nah, nah, nah.
00:43:41.540 Nah, nah, nah, nah, nah, nah軽 nah, nah, nah
00:43:49.760 Nah, nah, nah, nah, nah, nah.
00:44:04.240 Nah, nah, nah, nah, nah, nah.