The Glenn Beck Program - Best of the Program ｜ Guests： Sen. J.D. Vance & Carol Roth ｜ 10⧸25⧸23

00:00:00.360 Hey Stu, welcome back.

00:00:01.840 Thank you.

00:00:02.460 It's good to have you back.

00:00:03.420 It's good to be back.

00:00:04.440 Do you ever listen to the podcast, uh, oh shoot, what is it, with, uh, three guys?

00:00:11.260 Oh, I think you're thinking of Smartless, maybe?

00:00:12.980 Yeah, Smartless.

00:00:14.480 I love that.

00:00:15.360 I, I've checked that out a few times.

00:00:16.820 I mean, those, you know.

00:00:17.860 They're just so funny and I love to hear.

00:00:20.060 Yeah.

00:00:20.260 Yeah, they're funny together.

00:00:21.340 I love their friendship, you know?

00:00:23.000 Yeah.

00:00:24.220 I wish I loved our friendship.

00:00:25.380 I know, it would be much better.

00:00:26.800 It would be a better show.

00:00:27.760 It would be.

00:00:28.380 Imagine how good it would be.

00:00:29.420 Right.

00:00:29.700 If we liked each other.

00:00:30.560 I should fire you and get somebody I like.

00:00:33.900 That's a great idea.

00:00:34.860 You should do that immediately.

00:00:36.240 I am on board.

00:00:37.440 But there's nobody who really, that I like or likes me.

00:00:40.360 Or will come in.

00:00:41.300 Right.

00:00:41.760 And I, and I, you know, this is my first day of the week and it's still better than most

00:00:45.380 other people.

00:00:45.980 You are, you're getting what you get.

00:00:48.160 Okay.

00:00:48.640 And welcome to that podcast.

00:00:50.720 Today's a great podcast.

00:00:52.320 You don't want to miss a second of it.

00:00:53.640 Um, tonight, uh, at nine o'clock, I'm giving you some information on COVID.

00:00:59.700 We have not talked about the new information, uh, all of the new, um, documents and all

00:01:07.080 of the, Oh, that's not true.

00:01:08.980 That is now true.

00:01:10.680 Tonight.

00:01:11.260 You're going to understand where we're headed in medicine.

00:01:15.140 Unlike ever before.

00:01:16.420 It's an amazing show tonight at nine on blaze TV.

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00:02:31.340 Here's a podcast.

00:02:40.600 You're listening to the best of the Glenn Beck program.

00:02:47.880 Well, welcome back to a stew.

00:02:49.780 Nice to have you here.

00:02:51.060 Thanks, Glenn.

00:02:51.800 Glad to be back.

00:02:53.540 How'd the surgery go?

00:02:55.040 Your voice sounds the same, but you're.

00:02:57.120 Yeah.

00:02:57.820 Yeah.

00:02:58.040 I think you look nice in the dress.

00:02:59.500 Thank you.

00:02:59.880 Yeah.

00:03:00.380 It's a, I picked this one out special for the first day.

00:03:03.060 Right.

00:03:03.660 Okay.

00:03:04.800 So we look like, it looks like we might have a new, a new speaker today.

00:03:13.520 Yeah.

00:03:14.360 Mike Johnson.

00:03:15.680 Mike Johnson.

00:03:16.380 Now, of course, I want you to know, as a person who obviously covers the stuff for a living,

00:03:20.060 I had spent a lot of time thinking of Mike Johnson before yesterday.

00:03:23.060 Right.

00:03:23.380 And I want you to know.

00:03:24.580 Didn't we all?

00:03:25.400 Oh, yeah.

00:03:26.060 This is the, this is either the guy or not the guy.

00:03:29.360 One of the two.

00:03:30.020 Right.

00:03:30.460 And it depends on your perspective.

00:03:31.920 But what does your research tell you about Mike Johnson?

00:03:34.100 Well, my deep research on Mike Johnson tells me a lot about him.

00:03:38.200 A lot about him.

00:03:38.760 That's what you get from deep research.

00:03:40.680 Okay.

00:03:41.040 Good.

00:03:41.260 That's why we do it.

00:03:42.440 It's why we're so dedicated every day.

00:03:44.040 Some would say that you're, you're stalling here because you have nothing on Mike Johnson.

00:03:49.560 Very little, honestly.

00:03:50.780 Very little.

00:03:50.920 Like he's a social conservative.

00:03:52.800 He's known as a social conservative.

00:03:54.300 Yes.

00:03:54.420 His voting record is okay.

00:03:56.840 It's not a, you know, it's not Jim Jordan, but it's also not Mitt Romney.

00:04:03.900 Um, he, he is in a very heavily Trump district, a very red district, um, which would indicate

00:04:12.340 you want someone there with a very strong voting record for that district.

00:04:16.380 I would say his voting record is mediocre, but it's for the country as a whole.

00:04:21.640 It's pretty good.

00:04:22.920 So Mike Johnson is now the nominee.

00:04:25.920 He's the guy who said we should not go back out on the floor until we know we have a speaker.

00:04:32.080 Can we not just keep throwing people out and then being humiliated, humiliating ourselves?

00:04:38.480 So they adopted that.

00:04:40.520 Um, and then last night, uh, they did several, uh, roll calls and, uh, we don't know.

00:04:49.480 Well, we do know, we don't know if he's going to get two 17 on the floor.

00:04:53.620 We do know that, um, he got 201 in a roll call.

00:04:59.820 Now that's the highest that they had had 201.

00:05:03.740 They had three present votes and 19 absent, but the 19 that are absent, they feel comfortable.

00:05:11.840 They could get to 17 today.

00:05:14.560 So they're going to vote today at noon.

00:05:18.300 At least that's what they say right now.

00:05:20.160 That's what they say.

00:05:20.840 Now we will see if that happens or not.

00:05:22.780 And they might, I mean, maybe they look, they are getting more and more frustrated with

00:05:26.320 this process, right?

00:05:28.140 They get to that point where the, the more and more annoyed they get at going through

00:05:31.640 this and they, I think they feel embarrassed.

00:05:34.100 I don't know if that's the right emotion or feeling for this, you know, so what if your

00:05:37.500 vote fails?

00:05:38.240 I don't know why everyone, why do you get embarrassed if your vote fails?

00:05:41.720 Let's move on.

00:05:42.340 You just look like you're just a bunch of, just do it.

00:05:46.120 But this is the media framing of it.

00:05:47.820 It bothers me a little bit.

00:05:48.740 It's like they have a four seat majority.

00:05:50.420 It's hard, you know, I mean, like, it's not easy to get 217 votes when you have 221 to

00:05:56.780 play with.

00:05:57.300 Like it's, it's difficult.

00:05:58.680 I'm sorry.

00:05:59.360 People have different opinions.

00:06:00.980 This is a, like, they act as if it's like everyone's just falling on their face.

00:06:04.580 It's like, you know, Gerald Ford in the Saturday Night Live skits over and over again, falling

00:06:09.480 into his Christmas tree.

00:06:10.740 It's like, this is a difficult process.

00:06:12.940 What is, what made this, which is kind of embarrassing part of it is they threw the guy

00:06:16.920 out beforehand and created all this on their own.

00:06:20.420 They knew this chaos would be on the other side.

00:06:22.260 Right.

00:06:22.520 And they did it anyway.

00:06:23.480 Right.

00:06:23.720 But I mean, at the end of the day, if the Democrats, you know, the Democrats seem to stick together

00:06:28.780 no matter what.

00:06:29.480 But if they had a four seat majority, it would be hard for them to pick a speaker too, especially

00:06:33.580 if one didn't previously exist like Nancy Pelosi, right?

00:06:36.140 If they had to come up with some new person, it would probably be difficult.

00:06:38.760 It'd probably be Karl Marx, but that's just a difference.

00:06:41.240 He's unfortunately not available at the moment.

00:06:42.800 Yeah, he's not at the moment.

00:06:44.200 At the moment.

00:06:44.820 Not at the moment.

00:06:45.520 So, uh, in, uh, George Washington University, George Washington University, several Palestinian

00:06:53.580 messages, pro-Palestinian messages were projected onto the university building, uh, by students

00:07:01.440 from the university.

00:07:02.480 Now, let me ask you, what's a pro-Palestinian message, Stu?

00:07:07.620 Um, stop the bombing.

00:07:12.240 Okay.

00:07:12.680 I need to be more specific.

00:07:14.160 The bombing, the bombings at least started by Israel. 0.79

00:07:17.620 You need a long disclaimer on each one of these things, but like something like, you

00:07:21.180 know, peace deal now, cease fire now, right?

00:07:24.640 Like, how about this one?

00:07:25.820 Is this pro-Palestinian?

00:07:27.680 Glory to our martyrs. 1.00

00:07:29.500 See, no, I would say it seems a little, uh, less pro-Palestinian, more let's kill all 1.00

00:07:39.880 the Jews. 1.00

00:07:40.600 Yes.

00:07:40.980 Pro-Hamas. 0.73

00:07:41.980 Yes. 0.91

00:07:42.540 Pro-Israeli genocide.

00:07:45.800 Mm-hmm. 0.97

00:07:46.460 Free Palestine from the river to the sea, which is also clean all the Jews out. 1.00

00:07:54.440 Thinly veiled anti-Semitic.

00:07:56.000 I mean, you know, cause if there's the river to the sea, there's, where do the Jews live?

00:07:59.900 They live between the river and the sea, generally speaking.

00:08:04.060 Uh, divestment from Zionist genocide now. 0.59

00:08:08.360 This is what is, this is what is happening now all over our campus.

00:08:14.980 This, this is, uh, should be really disturbing.

00:08:20.540 Um, you had a pro-Palestinian demonstrator.

00:08:24.940 Uh, or in fact, several of them take and beat a pro-Israel activist who was helping an

00:08:33.840 old man, Charlie Kirk, this according to Charlie Kirk, turning point USA.

00:08:38.360 He identified the man in the video as Peter Christos, who was attending the rally along

00:08:44.700 with another activist from the organization.

00:08:47.100 Christos, Kirk wrote on X, was violently attacked while he and another TPUSA staffer were trying

00:08:53.520 to escort an elderly Jewish couple away from a pro-Israel rally.

00:08:58.500 On the way to their cars, they encountered pro-Hamas supporters who assaulted them, punched

00:09:04.460 them repeatedly, and hit them with a flagpole before cops could pull them away to safety. 0.90

00:09:11.320 This is not the only one who has posted about this.

00:09:14.540 It was one of several disturbances which took place outside the Lincolnwood Town Center where

00:09:21.000 the Simon Wiesenthal Center was hosting a Stand with Israel event.

00:09:26.420 About 200 pro-Palestinian counter-protesters came to picket the event.

00:09:31.800 Police say at one point members of the crowd confronted an individual who then brandished

00:09:36.120 a handgun and shot one warning shot in the air.

00:09:39.640 That individual was taken into custody.

00:09:41.400 A participant in the pro-Palestinian protest was also taken into custody for assaulting

00:09:47.100 two people with pepper spray.

00:09:50.300 Pro-Hamas protesters also chanted at a Boston rally, biggest threat in the world today, Israel 0.99

00:09:59.000 and USA.

00:10:01.620 Is anybody sensing a problem here?

00:10:04.780 Anyone?

00:10:05.880 Anyone?

00:10:06.920 Does anyone see a problem?

00:10:09.600 Because I'm starting to.

00:10:11.400 Now, polls will tell us, according to a new Harvard-Harris poll, only the police and

00:10:20.380 military are more respected than Israel.

00:10:24.240 That's an amazing thing.

00:10:27.680 Except, Palestinian Authority gets 17% support and Hamas has 14% positive rating.

00:10:36.440 Which is to say, 14% of our American neighbors have taken the side of a medieval religious cult 0.97

00:10:43.820 that's vicious enough to cut Jewish babies out of their mothers before beheading them. 1.00

00:10:49.580 I'm just saying. 0.99

00:10:50.320 If I said to you, 14% of this population were supporters of Nazis, would that concern you at all?

00:11:08.400 Oh, and 14 people rally in some city.

00:11:10.800 We hear about it for two weeks.

00:11:12.140 Correct.

00:11:12.440 In fact, this is 14%.

00:11:14.440 If 14% of your neighborhood was all in with ISIS or Al-Qaeda or the Nazis, would you be concerned?

00:11:26.880 Why are we not concerned?

00:11:31.760 The other side of this, and this is a great point made by David Harsany from The Federalist.

00:11:40.240 Many of those who claim to be supporters of the Jewish state are not.

00:11:45.520 The Barack Obama types who do the perfunctory throat clearing about Israel's right to exist

00:11:51.360 before going into the usual reasons it should not.

00:11:54.480 This faction, let's be generous and call them both-siders, is a growing concern in the Democratic

00:12:00.360 Party and on the fringes of the right.

00:12:02.760 According to a Harvard poll cross-tab, 36% of liberal of all ages agreed that the Hamas attack

00:12:10.720 on civilians was justified. 0.99

00:12:14.220 Liberals, 36% say what Hamas did was justified. 0.82

00:12:20.980 How do you ever justify the killing of children and women and fathers in their homes just coming

00:12:36.320 in and shooting all of them?

00:12:38.160 Can you imagine if Israel would walk across the border and just go into homes and just 0.99

00:12:43.240 start shooting people without war? 0.86

00:12:47.200 That's murder. 0.99

00:12:49.020 That's mass murder.

00:12:50.340 I mean, what is the most justified war of all time?

00:12:54.240 World War II.

00:12:56.100 If our soldiers go in and they start raping people, it's not justified.

00:12:59.420 Even in the middle of World War II.

00:13:01.240 If they start decapitating babies, still not justified.

00:13:04.200 It doesn't matter what the cause is.

00:13:05.660 There's no cause great enough to justify rape and decapitation and the murdering and kidnapping

00:13:11.740 of grandmothers.

00:13:14.480 There's no justification for that.

00:13:16.660 We all know war is terrible and terrible things happen in war.

00:13:19.640 But when we catch our soldiers doing things, I mean, remember the controversy we had in

00:13:24.560 this country over the naked pyramids of Abu Ghraib back in the day?

00:13:30.560 We were like, oh gosh, they're embarrassing these prisoners.

00:13:33.780 That was a controversy.

00:13:35.840 We were embarrassing them.

00:13:37.420 That was a big thing.

00:13:40.140 Remember the waterboarding of Khalid Sheikh Mohammed?

00:13:43.100 We spent hours and hours and hours talking about that.

00:13:46.720 Was that right?

00:13:47.420 Was that justified?

00:13:48.760 This is literal murder of innocent children for no reason other than to terrorize the community.

00:13:55.340 That's never justified.

00:13:56.600 I don't care what they've done to you.

00:13:57.980 That's never justified.

00:13:59.280 Well, according to the new Harvard poll, a majority of 18 to 24 year olds believe the

00:14:03.900 killing of more than 1,200 Israeli and American civilians is justified. 1.00

00:14:09.180 Nearly half of those 25 to 35 here in America believe it was justified. 0.97

00:14:13.740 So you can go in and kill a family.

00:14:21.440 Also, we probably shouldn't mention this because we're not supposed to, but you know what? 0.98

00:14:27.160 I want to give you all of the information you could possibly need.

00:14:30.580 And so you know what the truth is, while we have the ability to tell you the truth.

00:14:37.940 A majority of American Muslims agree that Hamas was justified on its attack.

00:14:47.720 Wow.

00:14:50.140 This seems to me to be a real problem.

00:14:55.580 Are we going to step up and do anything about it?

00:15:00.580 Why is it that our president is now preaching to Israel about how they should respond?

00:15:12.600 Why is our president now trying to hold Israel back?

00:15:16.520 He gave a lot of lip service to Israel saying, you know, they have a right to attack.

00:15:21.960 They have a right to respond.

00:15:24.340 But now they're holding the whole world is holding them back.

00:15:28.300 If we can't, as a people, say, you know, there's a real problem here with beheading children, you know, going in and just shooting innocent families.

00:15:40.700 If we as a people cannot say that, what kind of world are we building?

00:15:47.680 I will tell you, we are building a world that aborts babies, that kills children in hospitals if they're born defective or they have no real quality of life. 1.00

00:16:03.440 We will round people up and gas them.

00:16:07.440 We are creating the world. 0.99

00:16:09.240 The Nazis wanted to create. 0.91

00:16:13.360 And with our technology, God help us.

00:16:17.700 This is the best of the Glenn Beck program.

00:16:19.400 And we really want to thank you for listening.

00:16:21.840 Carol Roth, the the author of You Will Own Nothing and former investment banker.

00:16:28.600 Carol, how are you?

00:16:30.780 Always a good day when I'm with you, Glenn.

00:16:32.940 And I have to say I want to say congratulations on the the new information out, the relaunch of the blaze, the beautiful new look of the websites.

00:16:41.680 Very exciting stuff.

00:16:42.740 Very, very excited for everybody.

00:16:44.480 Thank you.

00:16:44.860 Isn't it?

00:16:45.560 It's a little disorienting to go to a website with no ads on it.

00:16:50.780 I mean, at least it was for me.

00:16:53.020 It's really nice, but I kept expecting all of these ads and I would look at something and be like, oh, no, that's just more information.

00:17:01.660 It's really it's quite nice.

00:17:03.960 Thank you for that.

00:17:04.860 So, Carol, let's start with the monthly budget review.

00:17:11.700 I don't even know what we're spending this money on, but we are spending money hand over fist.

00:17:18.300 And I know we're going to pay for it eventually.

00:17:24.080 Tell me the latest.

00:17:26.700 So the latest is everybody heard that for the end of fiscal year 2023, that there was a one point seven trillion dollar deficit.

00:17:35.920 And, Glenn, that sounds horrendous.

00:17:38.360 You know, we're not technically in the middle of a war, although we're on the fringe of several, but we haven't lost one.

00:17:45.220 We have an economy that is technically expanding.

00:17:49.240 We're no longer in a quote unquote emergency.

00:17:52.060 How could we spend one point seven trillion dollars?

00:17:54.880 Well, I have some news from you.

00:17:56.640 It wasn't one point seven trillion dollars.

00:17:59.140 It was actually two trillion dollars.

00:18:02.180 So I went to the congressional budget report.

00:18:04.900 And since I'm a nerd like I am, I decided to read it.

00:18:08.920 And there was some footnotes that were buried and information that was buried underneath the headline.

00:18:13.900 And one of the things that I found was a little bit of I'll call it accounting trickery, but it's not really accounting trickery on the CBO's part.

00:18:23.000 They were doing the standards that they follow.

00:18:26.420 But what was communicated to the public and what was happening at the federal level was trickery.

00:18:31.960 So go back to fiscal year 2022.

00:18:35.260 And you remember that President Biden wanted to do this illegal cancellation of student debt.

00:18:42.060 Right.

00:18:42.360 So for last year's deficit, they put in over three hundred billion dollars.

00:18:48.140 That was the best way I can explain it, that I've sort of understood it as almost like a reserve or a write down, basically saying we're not going to get this money.

00:18:56.240 And so this is an expense.

00:18:58.300 And so fiscal year 2022's deficit actually was much larger what they portrayed than it was because of this accounting reserve that they put in there.

00:19:09.340 Once the Supreme Court struck that down this year, they had to undo that.

00:19:14.720 And it's not perfectly dollar for dollar because they figured out some way to save something along the way.

00:19:20.520 But net net, that means that basically they took off this reserve of over three hundred billion dollars, which means the actual amount of deficit spending that we need to finance is more than two trillion dollars.

00:19:35.080 And again, that's not what's being communicated to the public.

00:19:37.940 You know, you might say one point seven trillion, two trillion.

00:19:40.760 What does it matter at this point?

00:19:42.020 But at this point, especially when rates are what they are and we have to finance every one of those extra dollars, it just means more potential financial damage to this country.

00:19:53.360 So I was having a conversation with somebody and they say, Glenn, the Fed isn't buying all of our our notes now.

00:20:02.700 And I said, I'm pretty sure they are maybe Japan because there's some weird deal with Japan. 0.88

00:20:09.920 But I'm pretty sure no one's buying it except the Federal Reserve.

00:20:14.460 Am I right?

00:20:15.880 So this is a very sort of complicated issue.

00:20:19.400 If you go back in history and you go back to before the Great Recession financial crisis, the deficits that we finance that was basically done by foreign entities, whether it was foreign central banks or other foreign investment entities, as well as other investors.

00:20:35.480 When you get to the period between like 2008 and 2014, they sort of said, well, you know, maybe the U.S. isn't as tight as it was before.

00:20:46.040 We have our own financial crises.

00:20:48.180 We don't have the wherewithal to do this.

00:20:50.400 And so it was only financed in part.

00:20:53.020 And that's when the Fed enacted this QE program, this bond buying program and started adding assets to their balance sheet.

00:21:00.900 So they started buying then.

00:21:02.080 And then after 2014, there was basically on net no foreign central bank buyers because you had a lot of the central banks around the world actually lessening their reserves.

00:21:14.320 And they just didn't have the wherewithal.

00:21:16.400 So the Fed was.

00:21:17.620 Now, we're at a point where it's very questionable because the Fed theoretically is letting assets roll off its balance sheet.

00:21:28.120 And it also, you know, we don't have entities around the world.

00:21:33.400 We don't have banks and insurance companies that have the wherewithal because they've gotten in trouble with all of this long term underperforming debt.

00:21:40.740 So they don't have the wherewithal to be out and be buyers.

00:21:43.420 We do have higher rates.

00:21:45.980 So or higher yields.

00:21:47.200 So that has enticed some folks.

00:21:49.800 But obviously, we know that bonds and yields trade in the inverse.

00:21:52.520 So that means that there is more supply than there is demand.

00:21:56.220 And that's why the yields keep going up.

00:21:58.240 So the Fed is definitely doing things in the market, which a lot of us argue whether or not that's really QE, where they're doing things to maintain the liquidity in the market.

00:22:09.160 But long term, this does become the question as as we continue to run these massive deficits and there isn't the appetite from other central banks to buy our debt.

00:22:21.940 And we know that there's a whole slew of big central banks and big countries that are actually trying to do the opposite.

00:22:28.920 They're trying to put pressure on the U.S.

00:22:30.860 Who is going to be there to purchase this debt?

00:22:35.260 And the answer long term is it's going to have to be the Fed.

00:22:39.400 And what's going to happen, but basically the way this is going to come about is that you're not going to have enough buyers.

00:22:45.840 You're going to see the yields go up.

00:22:48.740 It's going to create a crisis in the market.

00:22:51.040 And the Fed's going to be left with some one of two choices, the QE that we talked about, the bond buying and a QE program is we're going to buy X dollars worth of bonds in order to get things down.

00:23:03.840 Or something which Japan has done called yield curve control, where they say, well, we want to target this specific interest rate and we'll just buy as many bonds as it takes in order to keep it at that level.

00:23:16.200 And so that is the trajectory we are on with the amount of deficits we have, with the debt we have, with the interest that we have.

00:23:24.240 There are only so many things.

00:23:26.340 I mean, math's math.

00:23:27.380 There's only so many taxes that we can levy.

00:23:30.380 They're not going to cut back services.

00:23:32.900 We've seen that already.

00:23:34.620 And so the only other option is debt financing.

00:23:37.240 When there's nobody there to finance the debt, it ends up coming from the Fed and it ends up devaluing your dollars and we get inflation.

00:23:45.740 And this is what people don't understand.

00:23:47.780 People are decoupled from reality.

00:23:50.160 Math is math.

00:23:51.580 There are only so many options they have.

00:23:55.000 And at every single turn, this ends up hurting the American people.

00:23:59.440 So when we see people pushing back and saying, oh, you know, I earned my Social Security.

00:24:04.000 They can't take it away from me.

00:24:05.740 I completely understand that.

00:24:07.500 But they've lied to you.

00:24:09.280 So they're either taking it from you there.

00:24:11.460 They're taking it from you in terms of your purchasing power or they're taking it from you in terms of your taxes.

00:24:17.980 Those are their options.

00:24:19.300 That's the range of options they have.

00:24:20.680 Is it is it I saw a story yesterday, maybe that the first transaction with the Chinese one across states has happened and that the Chinese are dumping our our treasuries and buying gold.

00:24:41.460 Is that true?

00:24:42.820 Yes, it is.

00:24:44.020 And that's the central banks that have been lightening up on treasuries, whether because, you know, they are trying to defend their own currencies or they're trying to raise dollars to buy commodities that are priced in dollars like oil or food.

00:25:00.440 You know, that's been going on.

00:25:02.180 And what they have been doing is they have been deciding, hey, if I need dollars, I'm going to sell treasuries, not sell my gold supply.

00:25:10.860 And so, you know, net net, we've actually seen many of these central banks be massive buyers of gold.

00:25:17.860 So it's going to say, hey, if I need to raise money, I have these different options.

00:25:22.320 I'm holding the gold.

00:25:23.460 I think that's a better option than having these dollar denominated securities, which, again, is a signal a in terms of trust of the dollar and be in terms of the global financial order.

00:25:34.800 And this massive desire to say we see weakness, we smell it, we taste it.

00:25:40.440 This is an opportunity for us to knock the United States on its behind.

00:25:45.980 And so they are going to take that opportunity to this to the to the ability that they can.

00:25:52.140 Now, the one weird thing here that I'm going to put out for everyone, and this is going to sound backwards based on everything that we discussed, is that given times of turbulence, the Treasury market,

00:26:03.660 the U.S. dollar being this huge, liquid, you know, well, generally well-functioning market has always been the flight to safety.

00:26:13.600 When we saw Israel versus Hamas, you know, Hamas attacks Israel.

00:26:18.300 The first thing that happened is that bond yields went down because people were buying Treasury bonds.

00:26:24.280 But that only lasted about six days.

00:26:27.020 And then we had a reversal.

00:26:28.280 And now we're headed back this morning.

00:26:30.820 I was checking.

00:26:31.600 I think we're at like four point nine plus percent on the yield had for that, you know, five percent mark, which is a really key resistance level.

00:26:41.380 And so but what could happen and we saw Bill Ackman, one of the big hedge fund managers, cover his trade and treasuries.

00:26:49.160 And he said, you know, if things really were to accelerate, people actually could end up going and buying treasuries as a flight to safety.

00:26:57.580 So that's what we're trying to get through now is the Treasury going to remain a flight to safety asset or is it being replaced, you know, in full by gold?

00:27:07.040 We saw at least in the sort of temporary period that, you know, it was only a very short time people went to bonds and then they started buying gold again.

00:27:15.600 And, you know, certainly I think that gold is going to play a massive role going forward.

00:27:20.160 But what does that mean for the Treasury market?

00:27:24.240 And again, what does that mean for you is that the if there aren't people to buy those Treasury bonds, the yields go up, everything becomes more expensive.

00:27:32.080 The cost of capital for businesses become more expensive.

00:27:35.000 That ends up, you know, slowing down our economy has all sorts of implications.

00:27:39.240 So that is not a good outcome for any of us here in the United States.

00:27:43.220 All right. OK, so we have five or six minutes here.

00:27:45.580 Let's just talk about the second largest economy in South America that always seems to get on its feet and then they destroy it.

00:27:54.480 And then it gets on its feet and then they destroy it.

00:27:56.280 And it's destroyed every time. But the same thing. Marxism.

00:27:59.100 Yeah. So you're talking about Argentina and what we have to understand about Argentina is that it's this kind of weird anomaly.

00:28:08.660 There's a famous economist that said there are basically four different types of economies in the world.

00:28:14.020 There are those that are developed. There are those that are emerging.

00:28:17.000 There's Japan and there's Argentina.

00:28:18.880 So this is a country that went from being really wealthy.

00:28:22.740 I think they were like the 10th wealthiest in the world around 1900.

00:28:26.260 They have, you know, a really great amount of soil, a very fertile soil for agriculture.

00:28:32.380 Things were booming. And then they just created this massive welfare state.

00:28:38.000 And they have been in this spiral that they cannot get out of where they just continue to spend.

00:28:44.900 They get bailouts. They've got something like I'm not even joking.

00:28:48.380 It's like two dozen, almost two dozen bailouts from the IMF.

00:28:52.760 And it just goes to show you that throwing money at problems doesn't fix the problems.

00:28:58.280 You have to go in and actually surgically address the issues, which are things over the course of history,

00:29:04.500 but certainly in recent years, like massive corruption, like this overspending.

00:29:10.260 And they have just been in this cycle that they can't get out of.

00:29:13.340 So as you mentioned before the break, this is a country that has, I think at this point, it's up to 140% a year inflation.

00:29:23.960 Now, funny enough, this is not hyperinflation.

00:29:27.600 Hyperinflation is 50% a month or about 1,000% a year.

00:29:32.180 This is, I may teach people a new word today.

00:29:34.580 This is called galloping inflation.

00:29:36.520 It's the stage right before hyperinflation.

00:29:39.180 So if you didn't know it, about 20% to, you know, multiple hundreds of percent a year is galloping inflation.

00:29:45.140 So they have galloping inflation.

00:29:46.840 And this is just crushing people.

00:29:49.340 You know, they get their pay.

00:29:51.120 If they're getting it in pesos, they're turning it into dollars immediately because they know that as soon as they have the peso and they go to the store,

00:29:58.360 that it's not going to buy the same amount as it did before.

00:30:01.080 And this creates this massive crisis of confidence.

00:30:04.940 It creates a lot of demand for dollars.

00:30:07.120 So it's a very highly dollarized society.

00:30:09.960 In fact, a lot of the premier workers are actually demanding salary or payment for services in dollars because they're looking for something that's stable.

00:30:19.180 But what's happened here, Glenn, is that 40% of their population is in poverty.

00:30:25.700 And when I say poverty, I'm talking real poverty.

00:30:27.940 I'm not talking about iPhones and nice sneakers, poverty.

00:30:30.960 I'm talking about you cannot eat for days, poverty.

00:30:34.520 So you would think that this would be a nation that says, OK, we can't handle this anymore.

00:30:40.840 We want change.

00:30:42.460 And that's why Javier Millet, who is this, you know, crazy libertarian who wants to do massive reforms and shut down the spending.

00:30:51.300 That's one of the reasons he was so popular.

00:30:53.660 He won the open primary.

00:30:55.900 You know, he was off to the races.

00:30:57.100 But when it came down to the vote that we had just a couple of days ago, well, you know, the people who were in charge over and over again, they ended up actually coming in in first place.

00:31:09.160 So there's going to be a runoff here. 0.66

00:31:11.960 But what are they doing?

00:31:13.380 The best of the Glenn Beck program.

00:31:15.520 Senator J.D. Vance, welcome to the program, sir.

00:31:17.860 How are you?

00:31:18.760 Good, Glenn.

00:31:19.220 How are you doing?

00:31:19.760 Very good.

00:31:20.200 Thank you for standing up for this.

00:31:22.580 This is, in my opinion, disgusting what is happening, tying these two things together and the way we are financing Hamas and Iran is really stomach turning.

00:31:37.040 So thank you for standing up.

00:31:39.000 Tell us what you're doing.

00:31:40.440 Yeah, I appreciate it, Glenn.

00:31:41.600 I mean, look, the problem here is that Joe Biden sees a political opportunity in 1,400 murdered Israelis.

00:31:48.740 The terrorist attack happened.

00:31:50.100 Of course, it's a very terrible thing.

00:31:51.960 We lost a lot of Americans in that terrorist attack.

00:31:53.940 In my view, we want to empower the Israelis to do as much as they can to degrade Hamas. 0.55

00:31:59.660 That's on the one hand.

00:32:01.440 On the other hand, you have a nonstop Ukraine conflict that we've already poured $120 billion into.

00:32:08.920 Joe Biden would like to pour another $60 to $80 billion on top of that.

00:32:13.540 It is, I think, actively contrary to America's interests to food and fuel prices in the world to have this war continue.

00:32:20.620 And so Joe Biden has figured out that he can use the Israeli conflict to sell the American people on indefinite war in Ukraine.

00:32:29.020 And, in fact, he has delivered a supplemental spending package to the Senate that would do exactly that, combine Israel and Ukraine.

00:32:36.540 So it makes those of us who are pro-Israel, makes it harder for us to oppose the package.

00:32:41.480 And, unfortunately, Glenn, this is the important part.

00:32:44.280 Too many Senate Republicans are going along with it.

00:32:47.720 When you combine these packages, you put pro-Israel conservative senators in a bind because they don't want to send another $60 billion to Ukraine.

00:32:58.980 And Joe Biden is effectively using dead Israeli children to sell this package to the American people.

00:33:05.160 We need to separate the packages.

00:33:07.300 Have a separate debate because they are separate countries that raise separate questions and problems for our country.

00:33:12.960 That is the reasonable thing to do, and we shouldn't be going along with Joe Biden's politicization of the Israel tragedy.

00:33:20.720 But how are you going to do that?

00:33:21.800 I mean, you have people like Lindsey Graham who, you know, thinks this is just gangbuster.

00:33:27.120 This is the greatest because now you can get both.

00:33:30.100 I mean, there are those who, honestly, J.D., can you tell me what does victory in Ukraine look like?

00:33:37.680 I can tell you what victory in Israel will look like, an end of Hamas, possibly an end to the nuclear bomb-building capability of Iran at the most extreme. 0.95

00:33:51.340 What does winning look like in Ukraine, the death or the overthrowing of Putin?

00:33:57.960 Well, we have no idea, Glenn, and this is the problem with the Biden administration's policy is they haven't articulated what are we trying to accomplish in Ukraine, how long is it going to take to accomplish it, and how much money is it going to cost us to do that?

00:34:12.020 The answer is, and when you talk to them in private settings, they will tell you, Glenn, they really have no idea how this is going to end.

00:34:18.360 And their hope is that if they kick the can down the road another six months, maybe the Ukrainians make a strategic breakthrough, maybe the Russians just get tired of fighting, maybe the two-ferry intervenes.

00:34:30.140 Something is supposed to happen that makes it possible to bring Russia to the negotiating table.

00:34:35.460 They know there is no victory for Ukraine if you define it as pushing them completely out of the territory that Russia controls.

00:34:43.720 So they're just hoping, and I don't think we should be spending $60 billion of American taxpayer money on top of $120 billion we've already spent on a hope of Joe Biden and his foreign policy advisors.

00:34:55.780 It's disgraceful, and it's disgraceful that too many Republicans go along with it.

00:34:59.820 I will say one final point here.

00:35:02.880 Obviously, Lindsey Graham and I disagree very stridently on the Ukraine question,

00:35:07.380 but even a lot of my Republican colleagues who are pro-sending money to Ukraine, they want to defy the packages because they recognize it's a slap in the face to Israel to tie their fate to the Ukrainian war.

00:35:21.140 Aren't we also tying the border security to the Ukrainian funding?

00:35:27.280 That's exactly right, Glenn, and this is just another example of Joe Biden trying to take things that are politically popular for conservatives,

00:35:34.340 package them together, and then use that to sell the interminable war in Ukraine.

00:35:40.700 Now, by the way, Glenn, if you read the fine print on the alleged border security package, it actually gets much worse.

00:35:46.360 What we're really doing is funding and facilitating Joe Biden's open border.

00:35:51.480 We're sending resources to communities that are housing illegal migrants. 0.97

00:35:55.060 We're spending a lot of money to transport migrants from the southern border all across the country.

00:36:00.420 There's nothing in the package for real border security.

00:36:03.700 So it's not just that it's a political ploy by Joe Biden to call something border security so he can support Ukraine.

00:36:10.900 When you read the fine print, it doesn't even accomplish border security.

00:36:14.360 It's really, really atrocious what this guy is trying to do.

00:36:19.120 And look, I expect it, right?

00:36:20.880 I disagree with Joe Biden.

00:36:22.260 I didn't vote for him.

00:36:23.040 I'm not going to vote for him. 0.94

00:36:24.420 What is ridiculous is if Republicans go along with it.

00:36:27.280 So the encouragement I'd make, Glenn, to you, to your audience, because you have a huge audience and the voters actually have a voice and their representatives listen to them.

00:36:37.640 Call into D.C. and tell them, divide the packages.

00:36:41.960 Do not hold up the border and do not hold up Israel's security on Joe Biden's Ukraine war.

00:36:47.940 I got to push back on this one, and I hope you have a good answer.

00:36:52.580 But I, for one, asked my audience to call and be polite.

00:36:57.860 And they called a couple of weeks ago.

00:37:00.580 And Sean Hannity asked his people and Levin and everybody else.

00:37:04.420 We called the House and the weasel Republicans actually used that as an excuse to not do what we felt were the right things.

00:37:15.520 They said we had these people calling us and saying all kinds of things.

00:37:19.720 I can guarantee you that it was only the odd duck in my audience that would have done that.

00:37:25.560 They wouldn't have called them names and threatened their family.

00:37:29.460 Maybe that happened, but that is that is not the American people. 0.84

00:37:34.500 That is not the people who support the rule of law and the Constitution.

00:37:40.040 So when you say call the Senate, what is that going to do?

00:37:44.780 Look, Glenn, I understand people have frustrations, but it actually does matter.

00:37:48.940 And here's the thing.

00:37:49.940 These guys were going to be weasely no matter what people did.

00:37:53.680 They were just looking for an excuse to not do the right thing.

00:37:58.340 But but I guarantee the calls did not hurt Jim Jordan's speaker candidacy.

00:38:03.920 They helped.

00:38:04.880 It's just unfortunately the weasels were going to find a way to kill Jim Jordan's speaker candidacy anyways. 0.84

00:38:09.740 It really does matter.

00:38:11.080 Trust me, I sit in these lunches with my colleagues, folks I agree with and disagree with.

00:38:16.020 When they have the American people motivated about an issue, it does affect them and it does matter.

00:38:22.600 We we unfortunately, you know, I was one of the first people to endorse Jim Jordan's speaker candidacy.

00:38:27.460 I actually think we got a very good speaker out of this process, assuming Congressman Johnson gets through this afternoon.

00:38:33.840 So so despite the fact that I supported Jim Jordan, it was pretty clear early on that they were never going to let Jim Jordan become the speaker.

00:38:43.020 Correct.

00:38:43.260 And it had nothing to do with us calling.

00:38:45.320 In fact, I think calling actually did help us a bit.

00:38:47.180 OK, so call all of our Republicans.

00:38:51.140 I mean, how many of the we need all of them and then some Democrats, too, don't we?

00:38:56.640 You know, to divide the packages to actually force us to have a separate debate, we just need 41 Republicans to stand tall and say we're not going to do Joe Biden's bidding for him.

00:39:06.180 We're not going to accept this combined package, 100 million dollar behemoth with, by the way, a lot of open border funding.

00:39:14.320 So so, no, I actually think we just need Republicans to stick together, even if they are pro-Ukraine funding.

00:39:20.120 We need the message to be we're not holding the American southern border and we're not holding Israel security hostage to the Ukraine war.

00:39:28.780 Yeah. All right.

00:39:30.540 So we don't need all of the Republicans, which helps because you'll never get the Romneys of the world. 1.00

00:39:35.880 OK, so call your senator.

00:39:38.020 When does this vote go down?

00:39:40.300 Well, look, it probably won't go down for a couple of weeks here.

00:39:43.460 So it's unclear when leadership will try to move this package.

00:39:47.480 But right now, the fight is to divide it so that we have separate votes.

00:39:51.720 And that's what I'm trying to work towards right now.

00:39:54.100 So call your senator today.

00:39:56.520 And I know when I ask you that, I know because I would be rolling my eyes.

00:40:01.160 You're in the car and please don't roll your eyes.

00:40:03.080 Keep your eyes on the road.

00:40:03.820 But I would be rolling my eyes as well.

00:40:06.400 I'd be like, oh, really, that's going to help.

00:40:08.480 But we have to do all the things that we can do and then leave the rest of it up to God.

00:40:14.780 Do what you're supposed to do.

00:40:16.580 Do what the system requires.

00:40:18.120 Don't.

00:40:18.600 And I don't have to say this to you, my audience. 1.00

00:40:21.160 Don't do anything stupid. 1.00

00:40:22.920 Don't make threats. 1.00

00:40:24.060 You only hurt our cause.

00:40:25.320 Hello, January 6th.

00:40:27.960 Please don't do any of that.

00:40:30.020 I don't mean to insult you and your intelligence on this.

00:40:33.620 But please do call your senator and tell them to separate because you're getting a bogus border bill.

00:40:41.760 Yeah, something's wrong with the administration in there.

00:40:44.960 How can they be sending money over to Israel and then saying, oh, you know, you got to stop.

00:40:51.020 You got to stop.

00:40:51.860 Don't don't do anything yet.

00:40:53.400 There's something wrong with this.

00:40:55.740 I think it's just an act to get the money to Ukraine.

00:40:59.980 And we're headed towards World War Three.

00:41:02.680 And the last thing we should be doing is lumping all of this together.

00:41:06.060 That's exactly right, Glenn.

00:41:08.340 And by the way, if you have Hamas terrorists who are obviously attacking the Israelis but are also planning attacks in the United States of America, how does it make sense to facilitate their migration all across the continental United States?

00:41:22.760 You cannot have real border security if you're paying people to move themselves from the southern border to all across America that will facilitate an open border and will actually promote acts of terrorism in our country.

00:41:36.220 I hate to say, Glenn, because I hate to be alarmist about this stuff.

00:41:39.120 I think we're at the greatest risk of a terrorist attack in this country that we've been in 20 years.

00:41:43.680 I agree.

00:41:43.920 And the reason is Joe Biden has let in a lot of designated terrorists and then paid money to have them flown across the country.

00:41:50.560 We have had we know we've caught, I think it's 400 people that are on the on the watch list or the terrorist list, 400 we've caught.

00:42:00.400 How many have come across that we didn't catch?

00:42:03.860 I mean, we know that there are people that wish us ill that have come into this country and it's only a matter of time.

00:42:10.920 And when you see the the the streets in these Palestinian, you know, marches where they are saying gas, the Jews, gas, the Jews, there's only one solution.

00:42:24.580 That's not a group of people or at least a few of the people that are friendly to our country.

00:42:31.340 Those are people that do really bad things.

00:42:34.940 That's exactly right, Glenn.

00:42:37.780 And by the way, a lot of these folks came into the country and feel no gratitude towards it and are importing the ethnic and religious hatreds of their own old country into the new one.

00:42:48.440 This is why we should have I really believe this, Glenn.

00:42:50.800 We should have actual screening for people, even legal immigrants, come into our country to actually confirm that they share some of our values. 0.99

00:43:01.260 And that if we bring somebody from Palestine, for example, they're not going to come here and want to kill Jews and Westerners because of something they were taught in their old country.

00:43:09.780 When you become an American, become an American or stay out of the country. 0.84

00:43:13.840 Amen. I can't believe that that will probably cause you a headache today because it is absolute common sense.

00:43:21.620 J.D. Vance, thank you so much, sir.

00:43:23.600 Appreciate it. Take care.

00:43:24.680 You bet. Senator J.D. Vance, please call your senator.

00:43:27.600 Please call your senator and tell them to separate the bills.

00:43:31.260 Nanana.

The Glenn Beck Program - October 25, 2023

Best of the Program ｜ Guests： Sen. J.D. Vance & Carol Roth ｜ 10⧸25⧸23

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