The Glenn Beck Program - Best of The Program ｜ Guests： Rep. Jim Jordan & Dr. Pippa Malmgren ｜ 10⧸28⧸20

00:00:00.000 Hello, America. We are six days away from the fundamental transformation of America.

00:00:05.420 Oh, who's excited about that? That happens if you believe the polls. We're not so sure. We

00:00:11.820 talk about the polls. We talk about the latest on Joe Biden and his family. But knowing that

00:00:17.540 it's about your family, really, we also tell you about the economy and the digital civil war,

00:00:24.020 all of that and so much more on today's podcast. And the big show tonight to figure out the first

00:00:29.480 hundred days of the Joe Biden administration, if it were to happen, what would it look

00:00:34.040 like? You should be prepared for that as we approach the election. And Wilfred calls in

00:00:37.660 and God is a little smoked at Stu. Also, did you want me to finish the promotion for your

00:00:44.200 special tonight? I wasn't listening. I didn't think so. Tonight is Glenn's special. Watch

00:00:48.520 it right after a brand new Stu Does America. It's blazetv.com slash Glenn. 30 bucks off

00:00:53.760 and use the promo code Glenn.

00:00:59.480 This election really is about fundamental transformation of America. We're six days

00:01:15.920 away from that possible outcome. If Joe Biden gets in, they are looking at an entirely different

00:01:23.320 country than the one that you recognize. We'll tell you about that tonight. And we urge you

00:01:29.160 to watch with a friend, maybe somebody who hasn't made up their mind yet. We're going

00:01:34.260 to show you in their own words what they're planning on doing in the first 100 days. And

00:01:38.940 I'll I'll comment on some of this stuff and show you as we go on. But they want to throw

00:01:44.820 the economy out and start something entirely new. So is that where we're at? Who do you trust

00:01:53.080 to be able to bring jobs to you? When Donald Trump took office in January of 17, the unemployment

00:02:00.700 stood at four point five percent? And remember, Obama and Biden said that's the best it will

00:02:06.460 ever get. By Q4 of 2019, it had fallen by 32 percent, just under three point five. This

00:02:16.160 included all time lows in black and Hispanic unemployment. Overall, the Trump's Trump's

00:02:23.280 unemployment rate set 50 year lows. U.S. household income grew at an annualized rate of two point one

00:02:33.720 from January 2017 to December 2019, 75 percent higher than the annualized growth rate under the

00:02:42.560 eight years of the Obamas and their administration. That was a rate of one point two. It was twenty

00:02:52.680 percent faster than the rate of inflation of one point seven. Notably, this includes black 1.00

00:03:00.360 household income growth rate of three point one, nearly double the rate of inflation. And here's

00:03:07.640 where it really matters. The wage growth for people just like you, non-executive workers.

00:03:16.120 It grew at an anemic point eight percent during the entire eight years of the Obama administration.

00:03:24.480 From Q1 2017 to December of 2019, your wages grew over three percent in 2018.

00:03:35.480 A largely because of the tax cuts. Said another way, the non-executive U.S. worker wages grew one hundred

00:03:45.200 and eighty seven percent faster under Donald Trump than under Barack Obama. So this is about your

00:03:53.460 family. This is about your wallet. But it is also about who we are. Do we want somebody who is

00:04:05.480 corrupt? In office? They have made all kinds of charges on Donald Trump, but they have absolutely no

00:04:14.200 evidence. But look at the overwhelming evidence on Joe Biden. Last night, one of Joe Biden's business

00:04:23.000 partners was on Tucker Carlson, and he has said he's just had enough.

00:04:29.720 We bring in Jason Buttrill, who is our chief researcher and national security advisor on the

00:04:38.060 program. Welcome, Jason. How are you? Thank you, Glenn. Doing well. So tell me what what you pulled

00:04:44.900 from this interview last night. I keep waiting to see this smoking gun that I believe is out there

00:04:53.120 that I think they can find. But it's direct money going straight towards Joe Biden. Yeah,

00:05:00.940 you're looking for a wire transfer. And I'm not sure if you will find one because of the documentation

00:05:05.680 that we found that Hunter Biden was saying it's to be held for the big guy. But I think that it's I

00:05:13.680 really think that if Tony Bobulinski last night looked extremely credible. I think that's one of the

00:05:20.440 biggest things. Everything he was talking about, the locations he was describing in vivid detail,

00:05:25.560 meeting at places like the Peninsula Hotel. And and that's when he talked to I think it was

00:05:31.880 Jim Biden, where he said, you know, plausible deniability. In fact, let me let me play this.

00:05:37.940 This is a cut. He had just said that Joe Biden, he could confirm because he was part of this deal.

00:05:43.060 He can confirm that Joe Biden is the big guy, which meant 10 percent of all of the business dealings

00:05:50.100 was going to Joe Biden from China. Here's how he was answered when he said, how do you expect to get

00:05:58.580 away with this? Listen, Bobulinski on Joe Biden's plausible deniability. I know Joe decided not to run

00:06:05.980 2016, but what if he ran in the future? Aren't they taking political risk or headline risk? And I remember

00:06:13.600 looking at Jim Biden and saying, how are you guys getting away with this? Like, aren't you concerned?

00:06:19.800 And he sort of looked at me and he laughed a little bit and said, plausible deniability.

00:06:25.900 He said that out loud? Yes. He said it directly to me, one on one in a cabana at the Peninsula Hotel

00:06:31.400 after about a hour and a half, two hour meeting with me asking out of concern, how are you guys

00:06:38.000 doing this? Aren't you concerned that you're going to put your brother's future presidential

00:06:41.880 campaign at risk? You know, the Chinese, the stuff that you guys have been doing already in 2015 and 1.00

00:06:48.740 2016 around the world. And I just can almost picture his face where he sort of chuckles and says,

00:06:54.780 you know, plausible deniability.

00:06:56.620 So, Jason, first of all, explain who Bobulinski is.

00:07:03.240 So Bobulinski was, I guess you could call him a business partner, a partner with Hunter Biden

00:07:09.320 and multiple other of the people that are all involved in this, the usual suspects,

00:07:13.160 people like Devin Archer. But he was recruited directly. And he's even alleged that Joe Biden

00:07:18.600 was actually involved directly with him in a meeting to recruit him to be the CEO of one of

00:07:24.220 these companies that embarks in these business ventures all over the world.

00:07:28.560 Okay. So why I have the one thing to Stu and I were talking earlier today. The one thing I don't

00:07:34.540 understand is why is this guy coming out now? I mean, and he's saying, you know, I came from a,

00:07:43.340 you know, a Navy family. So you were willing to be involved in this then, but now you're not.

00:07:49.420 Yeah. Do you have any feeling on why he changed and why he's now standing up?

00:07:58.240 I can only speculate, but you can tell that he was conflicted about it because he asked if they

00:08:03.640 were worried politically. Why would you be worried politically unless you knew exactly who some of

00:08:08.400 these people were that they were dealing with? And I think we'll talk about a little bit later.

00:08:12.380 They did know exactly who they were dealing with and how they were connected with the Chinese.

00:08:17.900 In fact, here's the audio. He said last night that they were proud of their relationship

00:08:24.440 with the Chinese.

00:08:26.840 It also sounds like Joe Biden was vetting you to some extent.

00:08:30.780 Yes, of course. Like I didn't request to meet with Joe. They requested that I meet with Joe.

00:08:36.640 And, you know, he's putting his and Hunter says this in writing. It was a reference multiple times.

00:08:42.960 They were putting their entire family legacy on the line. They knew exactly what they were doing.

00:08:48.900 They were dealing with a Chinese owned, you know, enterprise run by Chairman YI, CFC, that had strong

00:08:55.820 financial support and political support from the Chinese Communist Party. That's how it was presented

00:09:00.640 to me. That's not my own words. That's how they presented it to me and read me in on it.

00:09:04.680 And they being Gillier and Hunter Biden, being Hunter Biden, who was very proud of that and taking

00:09:11.280 credit for it when I sat with him for two hours on the patio of the Chateau Marmont in L.A.

00:09:16.320 Proud that they were doing a deal with the Chinese Communist Party?

00:09:18.540 Well, proud that they were that he had the relationship with Chairman YI, who was running

00:09:23.560 CFC and the ability for them to get deals done around the world and stuff like that.

00:09:28.900 CFC is the Chinese energy company that they were involved in.

00:09:34.260 And he also said, as I watched it last night, I was I was struck by how credible this guy

00:09:39.660 looks and feels. His answers didn't seem rehearsed.

00:09:43.780 It just seemed real. And he talked about a meeting with Joe Biden that he was brought in

00:09:49.660 and, you know, 10 o'clock at night in some hotel.

00:09:54.480 Uh, they had this meeting where he talked about all of the business deals.

00:10:01.120 Yeah, I think the biggest thing about, you know, back to your previous question on why

00:10:05.460 he's coming out now, I think it looks exactly that they knew who they were dealing with.

00:10:10.880 I think that now he's just sick and tired of not being able to of everybody else going

00:10:16.860 down and not him or not the Biden's.

00:10:19.080 All of his friends, all of his business partners, they've to some extent been convicted in U.S.

00:10:23.800 federal court on dealing with some of these crazy things involving like money, money laundering.

00:10:28.760 Um, in one case, Devin Archer was actually convicted.

00:10:32.320 And this is interesting because there was another report that said that, uh, or some audio that

00:10:36.920 Hunter Biden talks about, about him and Joe Biden being named as witnesses in a U.S.

00:10:42.480 court case.

00:10:43.300 The only other court case I can think of was the one where, uh, John Galanis, Devin Archer,

00:10:48.080 and Bevin Cooney were all convicted for defrauding $60 million from a Native American tribe.

00:10:55.000 Now, is that what he was referring to?

00:10:56.620 It's possible.

00:10:57.640 But I mean, oh my gosh, just the optics of that right there that the media refuses to even

00:11:01.920 report on.

00:11:02.440 This is the best of the Glenn Beck program.

00:11:10.360 Blaze TV reporter Elijah Schaefer attacked Tuesday night inside a Philadelphia store while

00:11:16.280 filming ongoing looting in the wake of the police shooting of Walter Wallace, who was killed

00:11:21.980 after alleging, after allegedly, no, it's not allegedly, it's on videotape, charging the

00:11:29.320 police with a knife.

00:11:30.980 You can hear them saying, drop, drop the knife, drop the knife.

00:11:34.060 It's not, it's not entirely clear to me, at least the first time I saw where, where his

00:11:38.840 knife, where the knife is, but it does.

00:11:40.500 No, no one's denying there was a knife used.

00:11:42.860 Daily Caller reported Shelby Talcott was also reporting for Philadelphia.

00:11:46.620 She tweeted mass looting across the river and Elijah Schaefer just got beaten up for filming.

00:11:51.980 This is inside the Five Below store.

00:11:54.840 Police are in the same parking lot near the Walmart, but there seem to be too many looters

00:11:59.900 for them to do anything about it.

00:12:02.240 Let me play the video of him being attacked last night.

00:12:06.520 Here it is.

00:12:08.260 Look at the looting.

00:12:15.780 Look at that.

00:12:17.340 They surrounded him.

00:12:18.640 Now the camera person got out.

00:12:21.980 Um, Elijah, you were surrounded by 10, 15 people.

00:12:28.840 Yeah.

00:12:29.400 Unfortunately, uh, it escalated from one person to about a dozen very, very quickly.

00:12:35.740 Um, you were obviously punched in the mouth.

00:12:38.900 We can see the, um, effect of that.

00:12:42.640 Your sleet, your speech is a little, uh, weird as usual, uh, or we're then usual, uh, and sorry

00:12:50.780 to make you laugh and smile.

00:12:52.460 Um, how are you, how are you doing?

00:12:54.600 Uh, you know, I'll tell you this.

00:12:58.280 I'm actually really happy to be alive because in that same shopping center, um, right there,

00:13:03.740 there was a 15 year old girl who was shot, um, according to reports.

00:13:08.160 And I heard multiple gunshots, uh, throughout the night.

00:13:10.520 Another individual is reported to have, uh, been shot as well.

00:13:14.140 Still trying to confirm.

00:13:15.120 I watched people get, get pummeled, uh, beyond belief.

00:13:19.260 And even another journalist named James clue, uh, he had to run almost a mile to get away

00:13:25.500 from writers who tried to beat him up because, uh, and I will say this indiscriminately, they

00:13:30.240 were specifically targeting white people, uh, last night.

00:13:33.800 And that was who they were after.

00:13:36.440 Why do you, why do you say, why do you say that?

00:13:39.820 Uh, because they were only attacking white journalists, uh, specifically.

00:13:44.560 And they told me, they called me a white supremacist, uh, during my attack.

00:13:49.960 And after the fact, they came up to me at another location and told me a white supremacist

00:13:54.940 and started accusing me of things that clearly have no base.

00:13:58.500 Uh, and James had a similar, uh, a similar interaction.

00:14:02.380 And I'll say this, I was standing next to three different reporters who were also filming,

00:14:07.300 uh, who are all Hispanic.

00:14:09.120 And they decided to only target me and they let them continue filming.

00:14:12.640 Um, so, you know, the racial slurs and accusations based with the fact that they only went after

00:14:18.260 the two white journalists, uh, in the group lead me to that conclusion.

00:14:22.140 And is this why, uh, and I don't want any details on anybody who is working with you, but

00:14:26.980 is this why the camera was not taken because they punched you and the camera was rolling?

00:14:33.020 And got out.

00:14:35.480 Yeah.

00:14:36.060 Well, that was actually a reporter, Shelby Telcott, who was completely covered up because, uh, 0.97

00:14:41.560 the lawyers guilt, the lawyers guild was looking for her at the other protests, trying to ID

00:14:46.740 her.

00:14:47.040 Uh, it's a group that touts themselves as a, uh, legal group, but they really try to dox journalists

00:14:53.760 and get people attacked.

00:14:54.840 So she had completely covered up.

00:14:56.620 So tell me, um, your reaction to the New York times saying that you are, you're going

00:15:03.120 in the New York times, they said are covering it.

00:15:06.000 We're just covering it from a distance and, uh, we can see everything that's going on.

00:15:10.580 These guys are just trying to, uh, make this bigger than it is and trying to, uh, ratchet

00:15:15.720 up the violence.

00:15:16.980 That's what the New York times said about your beating.

00:15:20.660 Glenn, I, I'm going to tell you this, and this is what I, it's like what we're reporting

00:15:26.360 at night.

00:15:27.760 It's so funny to hear people that aren't there, try to counter it.

00:15:31.260 And then reports come out later that we were right.

00:15:32.980 You know, I said that the police lost control of the city and I got mocked as well by the

00:15:37.240 same journalists.

00:15:38.040 Oh, you're exaggerating.

00:15:39.860 How do you mean they lost control?

00:15:40.980 Well, then the actual police chief says the night was a total loss and they were unable

00:15:46.380 to get control of the, of the city stretching several, several large blocks.

00:15:50.840 This is like a mile, a square mile or so area.

00:15:53.360 There was just no ability for police to do anything, uh, with more than a thousand writers

00:15:58.580 in just one location.

00:15:59.820 I mean, I would say there would be anywhere, maybe two to 3000 writers last night in just

00:16:04.700 a square mile or so the police were not prepared.

00:16:07.780 And at one point they just gave up and that's, they literally just gave up and just kind of

00:16:14.080 left.

00:16:15.160 Uh, you were in the Walmart.

00:16:17.740 That's where you were.

00:16:18.460 Or were you in the five below a store when you were beat up?

00:16:21.820 I was in the five below and I want to know not to make fun of anyone's position or to

00:16:27.520 take it lightly, but why would you loot a store that's known for $5 and under items?

00:16:32.340 That's not where I would loot.

00:16:34.100 Right.

00:16:34.600 Right.

00:16:35.000 Oh, well, um, but the Walmart you showed was looted and police have had kind of, which

00:16:42.620 was what?

00:16:43.520 Right across the street.

00:16:44.580 And they weren't doing anything for the five below.

00:16:48.580 And I got the impression that they had kind of given up on Walmart as well.

00:16:53.880 Yeah.

00:16:54.380 So this is what's so crazy.

00:16:55.720 So the, the videos that your, your viewers would be seeing, or if they're listening, uh,

00:17:00.200 the Walmart was looted in rounds.

00:17:01.840 So if people broke in, police came, cleared out the Walmart, and then they would run from

00:17:06.960 the Walmart to the next store, right next to the police, start looting that store.

00:17:10.300 Then the police would leave the Walmart, run over to the next door to clear them out.

00:17:13.400 And then everyone would run back into the Walmart.

00:17:15.760 So it was like, it was just like, I never, I'm laughing because I'm going, this is what

00:17:21.380 happened.

00:17:21.780 And the police just pushed people.

00:17:23.160 Essentially the police kept pushing people till I counted over 30 stores that were looted.

00:17:27.420 Uh, to, that's even a conservative estimate.

00:17:30.100 I mean, they went after a Chick-fil-A.

00:17:33.260 Why?

00:17:35.920 Well, racism, of course.

00:17:38.400 Um, uh, Elijah, were you wearing all of the equipment that I got for you last night?

00:17:48.400 Um, well, this was a time where we couldn't wear plate carriers, but I did have protection,

00:17:52.540 uh, to an extent.

00:17:54.240 And, and I also was, uh, I was, you know, caring sufficient means to protect myself in

00:17:59.660 a legal matter.

00:18:00.760 Um, but I'll tell you this, there is no law and order in these places.

00:18:05.760 And while I, I, I do respect law enforcement officers who protect and serve the people,

00:18:12.260 these big cities have a real problem when the police of the cities cannot help people.

00:18:17.940 And I will tell you this, we needed the national guard there and they were nowhere to be seen.

00:18:22.940 And that was confirmed by multiple other outlets, including the Daily Caller, including Town

00:18:26.620 Hall.

00:18:27.900 Elijah, please, you and your crew stay safe.

00:18:30.900 Thank you so much.

00:18:31.780 Thank you, Glenn.

00:18:35.080 You're listening to the best of the Glenn Beck program.

00:18:37.720 Dr. Pippa Malmgren.

00:18:55.640 Uh, she's an economist. 0.98

00:18:57.060 Uh, she was an economic advisor to George W. Bush, the author of The Infinite Leader.

00:19:03.220 We want to talk to her about the economy and the digital civil war that is coming.

00:19:08.620 Uh, doctor, how are you?

00:19:10.700 Hello.

00:19:11.580 I'm very well.

00:19:12.600 I'm very excited to be on the program with you.

00:19:14.400 Good.

00:19:14.620 Thank you.

00:19:15.100 So I wanted to talk to you a little bit about, first of all, the economy.

00:19:18.920 As we look at the economy, um, what, what's going to happen with a, uh, Biden, Green New

00:19:28.580 Deal, uh, kind of radical agenda if they start to pack the courts?

00:19:35.020 Hmm.

00:19:35.920 Well, look, I actually have a more optimistic view that as soon as we know the result one

00:19:41.800 way or the other, a lot of people are going to say, okay, fine.

00:19:44.740 Now I'm going back to work.

00:19:46.040 Then there's a second question of what does it mean if, if Biden becomes president?

00:19:50.700 And I think it's going to take the Democrats a couple of years to have an internal punch

00:19:55.560 up about where exactly is the policy supposed to be?

00:19:59.180 It's not like when Clinton came in and it was a kind of center, middle pro business position.

00:20:05.220 Now we have a kind of far left all the way to the middle of the road and no agreement amongst

00:20:11.560 all those folks as to what should we actually do.

00:20:15.480 So it's an unknown is the answer.

00:20:18.140 We know it will be obviously not what most Republicans would want, but I'm just saying

00:20:23.080 we don't know how far to the left it might be.

00:20:25.340 So we are at a time now where the information that people get is edited and shaped and put

00:20:36.620 in front of them and they can be manipulated without even knowing it.

00:20:41.420 But we, we also know that Twitter and Facebook have been editing the news.

00:20:47.420 What's really terrifying that nobody really understands is I have a digital twin and you

00:20:54.680 have a digital twin.

00:20:56.500 Tell me what that means to the average person.

00:21:00.200 Yeah.

00:21:00.920 So basically all of the data that you give off every day from not just searching on a search

00:21:07.600 engine, but frankly, if you have a phone in your pocket and you walk down the street,

00:21:11.360 the phone can tell what the condition of your heart is from the way you walk.

00:21:16.020 In other words, all these electronic devices are picking up information about us.

00:21:20.640 It's very, very deep.

00:21:22.220 And all this data is kind of accumulating and like a twin of yourself that you can't see,

00:21:28.400 but others can see it.

00:21:29.940 So for example, banks increasingly, if you're applying for a job, they'll look at your digital

00:21:34.980 twin and make decisions about you based on that.

00:21:38.440 So if you order Ben and Jerry's ice cream at midnight on Thursday nights while Googling Weight

00:21:44.120 Watchers, that algorithm is going to say this person is a little emotionally unstable and

00:21:49.900 that's going to show up in the personnel search.

00:21:52.880 And maybe that's the reason you don't get a phone call back or even worse, they'll start

00:21:57.900 to look at the, at a married couple and compare the purchasing patterns and the behavior patterns

00:22:04.240 of both.

00:22:04.640 And they can anticipate a divorce that the couple themselves don't even know is coming

00:22:09.260 and often drive down the credit limit of the lower earning partner in anticipation of

00:22:13.900 that divorce.

00:22:14.860 So that's what I mean by your digital signature or your digital twin is starting to have a huge

00:22:21.340 impact on your actual life.

00:22:23.440 So they actually, uh, take your data and we'll say this is an unstable person.

00:22:31.640 I mean, your example was, but with an example like that.

00:22:38.280 Yeah.

00:22:38.920 I've talked to banks around the world and this is becoming ever more commonplace.

00:22:43.520 So think of it this way.

00:22:45.320 Um, it's the question of the algorithms read through all the data and they start to find

00:22:51.060 patterns and one of the patterns might be that if you have a married couple and the two of

00:22:56.860 them are spending in very different ways in different locations, that this is just an early

00:23:02.520 indicator that there's a breakdown in the marriage.

00:23:05.580 Now, all this data is typically auctioned off on the internet, right?

00:23:09.460 That's the whole point of doing your searches through say Google, Google takes the data and

00:23:14.260 they auction it off around the net and theory it's what they call anonymized, meaning it's

00:23:19.380 anonymous, it's not you, but I have to say, I have my doubts that data is really, truly

00:23:25.740 anonymous.

00:23:26.280 It's becoming easier and easier to identify from your zip code and from your daily activities,

00:23:33.680 kind of exactly who and where you are.

00:23:36.440 So it's becoming a tracking mechanism.

00:23:39.800 Are we any different than the Chinese other than the government is using this data?

00:23:44.700 Are we any different?

00:23:45.540 Do they have more information on their people than we have on ours?

00:23:51.200 I think this is the key question of our generation when we talk about surveillance capitalism, which

00:23:57.060 is kind of the broad name for what we're talking about here.

00:24:00.520 And the thing is, in China, the government does it.

00:24:03.340 In the U.S., we've privatized it.

00:24:05.280 So we have private entities that are gathering the data.

00:24:07.980 But what we don't have is an internet that keeps all this kind of data either fully private

00:24:15.200 and in your control or even better, permits you to monetize and make money off it as opposed

00:24:21.020 to others.

00:24:22.060 And there are a few people working on that, like Sir Tim Berners-Lee, who was the original

00:24:26.140 inventor of the internet, and a few other people.

00:24:28.680 But it's kind of a hard technical task.

00:24:30.940 And one, the public isn't really supporting it, because I don't think the general public

00:24:34.700 understands their digital twin and what the implications are of it.

00:24:41.180 So the one thing that really, really concerns me is, especially if the Democrats get in, they

00:24:48.640 have this new, it's called the new monetary theory, which is not a new monetary theory.

00:24:53.780 It's an old monetary theory that just says, spend as much as you want, and we can always

00:24:59.900 print more.

00:25:01.580 Just with the spending habits that we have right now, we're headed for real trouble and real

00:25:10.540 trouble with the dollar.

00:25:11.780 You say that the government is going to issue, I'm assuming at some point, cryptocurrency itself.

00:25:20.960 So not jumping on the Bitcoin bandwagon, but issuing its own cryptocurrency.

00:25:26.080 And why is that a problem?

00:25:28.720 I think that's right.

00:25:30.380 People thought crypto was just private entities.

00:25:33.320 But now Russia, China, the European Union have all said they're going to issue sovereign

00:25:40.120 digital currency.

00:25:42.260 And one way of thinking about this is that it's a little bit like heroin for politicians

00:25:46.660 in the sense that you can double the money supply with the keystroke.

00:25:50.060 You can also cut it in half with a keystroke, because it's not related to some underlying

00:25:54.920 phenomena like gold in the old days.

00:25:57.360 This is purely electronic and digital.

00:26:00.340 And even more interesting, when you have digital currency, you can choose whose bank accounts

00:26:06.060 it goes into or comes out of.

00:26:08.520 So the Chinese, for example, have been already giving away the new digital currency and testing. 0.98

00:26:14.600 Basically, people start to use it and then directing it to some, not others.

00:26:19.260 You could easily imagine a politician saying, I would like to give a tax break or send free

00:26:25.600 money to a certain group of voters, but not others.

00:26:28.880 And the criteria will be fill in the blank.

00:26:32.120 And now you're able to create a kind of financial mechanism for encouraging or discouraging particular

00:26:40.180 voting patterns, as an example.

00:26:42.100 It allows you to stop any kind of behavior that you don't like.

00:26:47.200 It's really, I mean, the digital twin would be a social score.

00:26:50.960 And the government can shut anyone it wants off and reward anyone it wants.

00:26:58.900 So you're right to use this term score.

00:27:01.940 And that's exactly what's happening is we're being scored all the time because of this digitization

00:27:08.180 of everything.

00:27:09.940 But when you add digital money into it, it's not just a score.

00:27:14.200 It's also a kind of way to keep track of who's doing what in the economy, where, when, with

00:27:21.180 whom, how.

00:27:22.880 And if you decided you didn't like certain kinds of economic activities, you could penalize

00:27:28.320 them a lot more easily with a digital currency as a sovereign nation than with traditional

00:27:34.160 paper money.

00:27:34.940 And I do think we're on the edge of a huge transition from paper money into digital money.

00:27:42.460 And this will also change the balance of power between states and citizens and also between

00:27:48.700 companies and customers.

00:27:50.140 So there are lots of political consequences of this technology change.

00:27:55.620 How long do you think we are away from that?

00:27:58.300 Well, I'm literally looking at the net as I'm talking to you.

00:28:01.000 And there's a story that says McDonald's, Starbucks and Subway denied testing China's

00:28:05.740 new digital currency, which means most probably companies like this are beginning to test it.

00:28:10.980 China's giving it away.

00:28:12.460 Russia has announced their plan to test and unveil digital currency.

00:28:17.580 The EU has said they're absolutely on track.

00:28:20.760 In the US, there's been a bit slower.

00:28:23.620 But again, private JP Morgan is introducing a digital currency, the JPM coin that's already

00:28:29.340 ready for commercial use.

00:28:31.200 And I suspect the US government's going to let the private companies test it out before

00:28:35.100 they dive in.

00:28:36.120 So then what happens to Bitcoin?

00:28:37.340 Well, I think people thought that by having Bitcoin, you could somehow escape the government

00:28:46.100 and government surveillance, maybe the taxation system.

00:28:50.460 And I think that's not correct.

00:28:52.480 Because in the end, even if you wanted to do all that, you have to actually log into your

00:28:58.940 Bitcoin account.

00:28:59.820 That means you need a keyboard of some kind.

00:29:01.840 And the world we're describing here is, it's so easy to digitally track what are you typing

00:29:08.440 into your keyboard?

00:29:09.500 I mean, it's going to reach the point where the only person who won't know your password

00:29:12.640 is you.

00:29:14.400 Right?

00:29:14.720 So, you know, once you're in digital space, there's no way to really hide.

00:29:23.440 It's a very visible electronic grid that captures all the activity that's occurring inside it.

00:29:31.400 So you can't really step outside that digital grid, and particularly not once money itself

00:29:37.120 becomes part of the process.

00:29:38.840 We are seeing now the breakdown of our society in certain cities, and we're seeing riots and

00:29:49.680 burning of cities, et cetera, et cetera.

00:29:52.120 I think both sides feel like they've been pushed to the absolute limit.

00:29:57.680 You talk about a civil war, but you say it's not going to be like it's ever been in any civil

00:30:05.080 war before.

00:30:06.480 What do you mean by that?

00:30:07.460 Well, so, look, what I was talking about was less the sort of violence that we're witnessing

00:30:15.640 and more a broader phenomenon, which I've written about some years ago in a book I wrote

00:30:21.960 called Signals.

00:30:23.200 It's about the breakdown of the social contract, the relationship between states and citizens,

00:30:29.980 between companies and customers, among citizens.

00:30:32.860 And I personally think that's because of the heavy debt load that most nations carry.

00:30:39.660 And that debt load kind of breaks the promises that hold a nation together.

00:30:44.540 Like, you can retire at 65.

00:30:46.540 Well, now, because of debt, we can't.

00:30:48.520 And the fastest-growing part of the workforce are people over the age of 55 because they can't 0.86

00:30:53.040 have enough savings to make it to the end of their life.

00:30:55.780 And so as we renegotiate the social contract, this reveals a lot of longstanding, unresolved

00:31:03.460 issues.

00:31:04.120 And by the way, COVID exacerbates that because COVID also reveals the pre-existing underlying

00:31:09.120 conditions initially in a person, but also in companies, in a society, in politics.

00:31:15.960 And one of the pre-existing underlying conditions that has revealed is this issue between African

00:31:23.600 Americans and the rest of society and a kind of unresolved sense of what is the right social

00:31:30.840 contract that is inclusive of everybody's needs in a way that everyone is comfortable with

00:31:37.140 and can benefit from.

00:31:39.780 And so some people are taking some violence to deal with that.

00:31:43.380 Others are using technology to overcome that.

00:31:47.540 And so, you know, this is where we are.

00:31:49.640 We are renegotiating the social contract right now.

00:31:53.180 One last question.

00:31:54.380 I know you're an optimist long-term.

00:31:56.960 How do you think 2021 is going to look?

00:31:59.900 A lot like 2020 or worse or better?

00:32:03.140 You know, okay, I'm going to give you a really optimistic view because, you know, nobody else

00:32:07.780 is going to give you it.

00:32:09.000 Right.

00:32:09.280 So, my feeling is, look, we've got a wave of entrepreneurial energy being unleashed as

00:32:15.100 people get fired, companies are closed, restaurants go out of business.

00:32:19.040 And I don't believe most people lie down, roll over and say, there's nothing I can do.

00:32:23.240 Most people go, you know what?

00:32:24.800 I have an idea.

00:32:25.980 And they will try to build something new.

00:32:29.140 And two-thirds of the net new jobs are always created by companies employ less than 50 people.

00:32:33.480 So, we're going to have a wave of entrepreneurial energy.

00:32:36.620 Not all of it will work, but it's going to be very exciting.

00:32:40.140 And then add to that, we have this record amount of money that's been injected into the

00:32:44.780 economy from government, which I'm not in favor of, but the fact is, there it is.

00:32:49.000 It's in the system.

00:32:50.440 And usually, that money will find the good business models.

00:32:55.080 And then add to that this technological revolution we're going through, digitization, the efficiency

00:33:00.880 gains are massive.

00:33:02.100 And so, I actually think the recovery may happen much faster and more sharply than people expect.

00:33:08.720 Because right now, they're building in the Great Depression Mark II.

00:33:11.420 And I'm not at all convinced that that's how it's really going to play.

00:33:15.780 I think the recovery may be much faster.

00:33:18.160 From your lips to God's ear, thank you so much.

00:33:22.620 Thank you.

00:33:23.640 You met Dr. Pippa Malgrim.

00:33:27.140 She is an economist, a former economic advisor to George W. Bush.

00:33:32.100 And the author of the book, The Infinite Leader.

00:33:35.540 Na, na, na, na.

The Glenn Beck Program - October 28, 2020

Best of The Program ｜ Guests： Rep. Jim Jordan & Dr. Pippa Malmgren ｜ 10⧸28⧸20

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