Exposing the TRUE Misinformation Superspreaders ｜ Guests： Rep. Patrick McHenry & Rep. Chris Stewart ｜ 4⧸8⧸22
Episode Stats
Length
2 hours and 4 minutes
Words per Minute
160.68102
Summary
Today we have the latest on what s happening in congress to stop a fed coin, a digital currency from the fed that is fully trackable, we have that story for you, we are going to check on your economy with Carol Rohr, and we have some good news and bad news.
Transcript
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what you are about to hear is the fusion of entertainment and enlightenment
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hello america welcome to the glenbeck program today we have the latest on what is happening in
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congress to stop a fed coin a digital currency from the fed that is fully trackable we have that story
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for you we have michael malice on we are going to check on your economy with carol roth today
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i really am amazed at what we learned yesterday about our intelligence community
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that apparently they're engaged in disinformation and they are just releasing all kinds of things like
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well apparently the one ap reporter that was sitting there with that briefing that said excuse me can i get
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and he knew that they were lying because that's not the way the pentagon announces these things
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the pentagon is just releasing information the national security council that really doesn't have
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any basis in fact and the media is praising them for it
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meanwhile yesterday they had a collection of all of the media
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of course no conservatives except for the college students in the audience
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they wanted to talk about disinformation and malinformation and the threat to democracy by all of these lies
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it was unbelievable but i want to start with some good news
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we look at the actual numbers and the trends in 60 seconds
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so some clown said you know all the world is but a stage and all the men and women are merely players
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some of those men and women spend most days feeling like they just fell off the stage
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uh-huh right some of us are in real pain every day
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70 of the people who try it go on to order more
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it's not a drug but it was developed by doctors
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and has four key ingredients that work with your body
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the three-week quick start developed for you is
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i don't want you to say the things that are untrue
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you're obviously the biggest thing you need is one of these
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the house or the senate to block biden legislation
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i mean i mean we should we should i should definitely clarify that
00:22:58.580
you're apt to get about you know 100 miles down the road and
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something in your engine falls out you don't know what it is but you look in your
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rearview mirror and you're like lost something in the car I wonder if I can
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make it home anyway most people would pull over I'm just like is it still
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working anyway if anything happens to you now with the supply chain and also
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with the chips it's gonna cost you a fortune please get insurance for your
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uh your repairs for your car it's carshield.com save 10 percent on it now you've got
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lock in your prices so for as long as you own that car you will never pay more
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it's carshield.com slash back carshield.com slash back blaze tv.com slash glenn the
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promo code is the alamo for 20 bucks off your subscription last day last day the alamo
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this is the glenn beck program this is the last day for the promo code the alamo we are
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oh I know why you're going out of business the whole company's going out of business isn't it
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so this is the last day you can save because tomorrow yeah it's gone it's all gone is that
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what it is yeah I think so I think you're talking about CNN plus oh that's right CNN plus I'm sorry
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you're right anyway we really need your support uh social media has just they have us by the throat
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and uh we built this to be able to be to withstand several attacks on us but this is a this is a big
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one and we'll survive uh obviously we will thrive um we are the alamo I built this to be the last man
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standing and we are going to do that but we really need your support subscribe if you find the things
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that we do um useful to you and you want to keep our voice going please subscribe and join us be a part
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of the team blaze tv.com slash glenn promo code the alamo save twenty dollars uh right now uh and today
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is the the last day you can do that so speaking of CNN plus which on day two they love this gave a
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fifty percent cut on the rate that means day one went so well yeah they didn't have to charge as much
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anymore is that what it is yeah that's what it meant I I have been speculating in my own head
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how few people actually subscribed and I'll bet you it was under 30,000 yeah oh I bet it was way
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under 30. do you I think so think of the global reach I'll bet it was between one and five
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thousand or one in five thousand okay okay not one in five people no no yeah because I think you're
00:26:03.040
right this is the type of organization they put a fortune into this I mean they have so many
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employees they're already talking about laying off employees uh I'd love to do an interview on that
00:26:14.760
with Brian Stelton why why why why particularly Brian because I do remember you have you've been
00:26:21.060
interviewed by Brian yeah before well what I'd like to do is invite him on uh to talk about something
00:26:26.860
very important okay uh that I know he's really interested in sure uh and then right at the point
00:26:36.240
where you're making the point I would say Brian isn't your company collapsing right aren't you about
00:26:44.900
to go out of business that's weird why would you say that I don't know you know how do you think he'd
00:26:50.580
react to something like that do you think he might just stand up no turn around and walk out of the
00:26:55.120
much of a fat lump to do that standing is hard so yesterday uh yesterday they had this uh uh this
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big I I don't even know conference where they brought in all of the liars and they set them on a stage
00:27:10.700
and they said we want to talk about misinformation and disinformation and malinformation and how it's
00:27:17.500
destroying our democracy so the guy I pick right away is the fat lump from CNN uh and
00:27:24.700
he was asked a question about Disney and he said you know the theme the talking point of the right
00:27:34.640
about protecting kids from the dangers of the Walt Disney company it's really Disney is just a stand-in
00:27:42.100
it's a symbol for something bigger a conservative backlash to growing acceptance of gay and transgender
00:27:48.240
people oh my gosh you couldn't be more wrong if you try and I think he tries to be wrong
00:27:57.080
it's I mean again the the bill they're talking about would also prohibit you talking about straight
00:28:04.080
sexual encounters it's not how it could possibly be about being gay when it also would prohibit straight
00:28:11.220
conversations makes no sense it is truly about because I looked up the definition today from uh the
00:28:17.320
justice department uh and the uh the American bar association it is grooming it is technically
00:28:24.980
grooming yeah this is a this is that big debate right now of whether you use that term I think
00:28:30.640
you know look it up I thought who really made a good explanation of this was uh was James Lindsay
00:28:35.240
the other day yeah and one of the things he mentioned was people keep saying grooming like
00:28:38.460
like look I think Chris Hayes is wrong on basically every issue on MSNBC I'm sure we would agree on
00:28:44.860
nothing do I think he's trying to molest children no I don't but that's not the definition of grooming
00:28:50.420
right that people like that is one definition like Jeffrey Epstein yes he would be called a groomer now
00:28:57.100
again wasn't gay had nothing to do with being gay no he was not the groomer yeah the uh Gladwell
00:29:05.800
whatever her name was Jelaine Maxwell yeah Maxwell again they worked together on that I would I would
00:29:10.680
no I know that but she was doing the grooming he was doing the molesting yes I think I would
00:29:17.040
some of the stories like you know they they both imported a young teenage painter to their house and
00:29:24.300
kept the like there's there are cases where Epstein I would definitely put him in this category as well
00:29:28.260
but again like you jump to that what what what uh James Lindsay said on the show is that like
00:29:33.960
think of grooming as for a cult for example yeah you're trying to to look at the craziness
00:29:40.580
we're talking about uh men are women and women are men right like these basic facts that everyone
00:29:45.280
understands you're trying to convince people to question a foundational truth that they all know
00:29:50.360
that is the type of activity cults do all the time right but here and here's the other part that cults do
00:29:56.540
they also separate you mainly from your family they start separating you and making sure that they are
00:30:05.700
between you and mom and dad or you and the family and anyone who comes up against it they are
00:30:12.560
discredited and they're an enemy of the cult yeah that's what this is yeah I mean listen to some of
00:30:18.120
the people who have left you know uh Scientology who who believe they've been groomed into that
00:30:23.020
lifestyle uh you know the I can't think of her name the lady that was on King of Queens I mean listen
00:30:27.480
to her talk about it this is exactly the stuff she's talking about she's not talking about uh this
00:30:31.400
the grooming stuff like Jeffrey Epstein it's a totally different thing Pat Gray joins us from
00:30:35.820
Pat Gray Unleashed the podcast you can get anywhere at the uh disinformation and the erosion of democracy
00:30:42.320
conference a University of Chicago freshman stood up and said I've got a question for Brian Stelter
00:30:50.060
my name is Christopher Phillips I'm a first year at the college uh my questions for Mr. Stelter uh
00:30:55.320
you've all spoken extensively about Fox News being a purveyor of uh disinformation uh but CNN is right
00:31:02.960
up there with them they pushed the Russian collusion hoax they pushed the Jussie Smollett hoax
00:31:07.420
they smeared Justice Kavanaugh as a rapist and they also smeared Nick Salmon as a white supremacist
00:31:13.920
and yes they dismissed the Hunter Biden laptop affair as pure Russian disinformation all true uh with
00:31:19.900
mainstream corporate journalists becoming little more than uh apologists and cheerleaders for the
00:31:25.180
regime is it time to finally declare that the uh the canon of journalistic ethics is dead or no
00:31:32.300
longer operative uh all the mistakes of the mainstream media and CNN in particular seem to
00:31:38.100
magically all go in one direction are we expected to believe that this is all just some sort of random
00:31:44.740
coincidence or is there something else behind it listen to this answer too bad it's time for lunch
00:31:49.020
30 seconds there's a clock that says 30 seconds but but I think my honest answer to you and I will
00:31:55.820
come over and talk in more detail after this is that I think you're describing a different channel
00:32:00.420
than the one that I watch uh but I understand that that is a popular right-wing narrative about CNN
00:32:04.980
I think it's important when we talk about shared reality and democracy all these networks all these
00:32:10.060
outlets have to defend democracy and when they screw up admit it uh but when Benjamin Hall the Fox
00:32:16.300
correspondent was wounded in Ukraine stop he but he refused to admit it he said those basically those
00:32:22.420
things didn't happen that's just a narrative yeah all of those things are easily verifiable
00:32:28.220
you know you just have to admit it but he's part of the disinformation and yet he's the expert
00:32:34.420
trying to point to the disinformation we're in an upside down world let me give you one more um
00:32:40.760
college student that went after um Ann Applebaum listen to this so in 2020 he wrote those who live
00:32:47.600
outside the Fox News bubble do not of course need to learn any of the stuff about Hunter Biden
00:32:52.200
referring to his laptop of course a poll later after that found that if voters knew about the content of
00:32:58.600
the laptop 16 percent of Joe Biden voters would have acted differently now of course we know a few weeks
00:33:04.020
ago the New York Times confirmed that the content is real do you think the media acted inappropriately
00:33:08.980
when they instantly dismissed uh Hunter Biden's laptop as Russian disinformation listen to this what
00:33:14.020
can we learn from that and ensuring that what we label as disinformation is truly disinformation
00:33:18.420
and not reality I mean my problem with Hunter Biden's laptop is I think totally irrelevant I mean it's not
00:33:25.140
whether it's disinformation or I mean I don't think the Hunter Biden's um business relationships have
00:33:32.460
anything to do with who should be president of the United States oh my gosh I didn't find I don't
00:33:36.680
find it to be interesting you didn't find it that would be my problem with the that as a as a major
00:33:41.160
okay stop this is wow this too is incredible here's she's from the Atlantic and so that's why she talks
00:33:46.680
like this um but she finds it not interesting yeah here are the headlines that she has written lately
00:33:53.600
Tucker Carlson is stirring up hatred of America the my pillow guy could really destroy democracy
00:34:01.100
Laura Ingram's dissent into despair that she finds interesting but the relationships that are providing
00:34:10.820
money to the current president not interesting not interesting you know if it was Donald Jr oh she'd
00:34:19.480
find it very I would she though I don't know really yeah yeah he's making millions from a foreign country
00:34:26.900
and has written emails that like a tenth or fifty percent of it goes to the big guy his dad
00:34:33.480
yeah I don't think she'd find that interesting I can I know I would lay I bet my house and everything I
00:34:41.400
have on the two of you but I don't know if I can say that about most of the media on the right
00:34:49.260
or the left that if this were reversed we'd cover it we would cover it no and I call for the
00:34:56.040
impeachment of the president I think we've proven that I think we have to I think we have to it's
00:35:01.380
very interesting and it's it's fascinating to me that they are continuing the lie it shows
00:35:09.580
they haven't learned anything they're not interested in learning anything yeah they have decided what the
00:35:17.140
role of the media is and the role of the media is to protect the democratic party that's it and now
00:35:26.840
they are taking the step further and they are openly saying anything that disagrees with us up on this
00:35:36.540
stage is disinformation and a threat to democracy that should scare the hell out of people
00:35:42.660
now what's really good the college students that were there yeah and the fact that we're not a
00:35:50.960
democracy that's also really good yeah so we don't have to worry about democracy reported against it
00:35:56.600
so often all right thank you pat pat gray from pat gray unleashed these days when just about every
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major corporation out there is falling all over themselves to virtual sing virtues virtue signal
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to the woke community and to esgs you're looking for a place that you can do business with that
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still believes in american values when it comes to your phone service there is one let me count again
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one one company that you should feel comfortable and in fact thrilled to do business with these people
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this was the patriot mobile was started by veterans um and they have gotten into this because
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they wanted to create something that was really good uh phone service that would give you the same
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great quality that's why they're on the same towers as everybody else give you the coverage they wanted to
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improve the service by having all uh american-based customer service for your phone calls they're really
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really good plus they're going to save you money but then they figured if we could do that and really
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build a great business we can take some of our money kind of like tithing and apply it to people who are
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fighting for the constitution apply it to places that are that are working against abortion these guys are
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not only putting their money into it but they are actually out in our communities as well this is a
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great company it's patriot mobile.com slash back get it because you're going to get the same great service
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uh that you'll get elsewhere as far as coverage you'll get better customer service and you will
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one where conservatives uh have people fighting on their side as well patriot mobile.com slash back
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patriot mobile.com slash back use the promo code back and uh get your activation for free
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you know when you see the uh the news coming out and saying oh you know i guess a hunter
00:38:24.040
biden laptop is real what they're really saying is uh we know an indictment is coming down and we're
00:38:31.620
not going to be able to deny it so we better inform our our people about it and start talking about it
00:38:37.620
admit that we we denied it and we were wrong on the 24th paragraph of the story um instead of leading
00:38:47.440
with the mistake but they are still now playing defense for joe biden because they're all saying
00:38:55.280
it had nothing to do with joe biden that is empirically untrue you with the the witnesses uh and the
00:39:08.220
the um emails make that very very clear this is a standard tactic though you keep drawing in the line
00:39:18.100
you know they did this with the most right it was nobody then it was only andrew cuomo it was just him
00:39:22.720
he's the bad guy he's the bad cuomo until we saw what chris cuomo did you know it takes time to go
00:39:28.460
through this process these are crime families they really are i had miranda divine on uh for the podcast
00:39:33.860
it came out last night it's episode 141 hunter biden's laptop from hell uh she is a new york
00:39:40.980
post reporter uh and columnist i i like talking to her because she was very clinical she just wrote
00:39:46.480
the laptop from hell and it is a disgusting book it really is um the podcast begins where i don't think
00:39:55.460
anybody else is beginning i i start at hunter biden three years old uh what happened to him when did he
00:40:02.140
turn into this guy and you learn things about this family that will disgust you just disgust you
00:40:09.740
this this charade of lunchbox joe the charade of a good dad is just that and loving family i i don't think
00:40:21.540
so um now why does that matter because the reason why this family is so dysfunctional is because joe biden
00:40:31.020
set it up as a family a crime family uh and you will see it all and hear it all episode 141 it comes
00:40:40.860
out for the general public tomorrow on my podcast you can get it wherever you get your podcasts
00:40:45.580
uh hunter biden's laptop from hell will it be the end of joe biden i think the answer is pretty darn
00:40:54.300
clear tomorrow's podcast or available now at blaze tv.com slash glenn this is promo code the alamo
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i'm gonna have dinner tomorrow with uh chuck norris and his wife uh they have a big fundraiser for
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see him they they are fascinating people they started seaforce water have you ever heard of seaforce
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they found under their ranch this gigantic um old glacier it's from the old from the ice age it's like
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water just you know putting it into uh into bottles seaforce and they they donate a portion
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of all their proceeds to kickstarter kids or kickstartkids.org uh which is their charity it's
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great water really good water and it goes to a good cause uh it's seaforce it's available in a lot
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what you are about to hear is the fusion of entertainment and enlightenment
00:43:09.680
hello america and welcome to the glenbeck program uh i've got some good news for you first of all
00:43:18.400
thank you for making the great reset now in its 10th week the number one selling book this last week
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in america of course we're 15th i think is it 14 or 15 this week of the new york times number one uh on
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on uh sound scan or book scan and and number one you know wall street journal usa today but
00:43:40.720
15 of the new york times but thank you not only for buying it reading it and then thank you for
00:43:48.300
getting involved i have an update on the number of states that are now involved in anti-esg legislation
00:43:56.140
maybe your state is being left behind but uh there's some really good news on that and
00:44:03.100
a big part of the great reset and modern monetary theory will be digital currency
00:44:10.340
i want to talk to you about what's happening in congress to stop it in 60 seconds
00:44:17.240
when you're living with a lot of pain in your life it can be really easy just to give up hope of
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my wife made me try relief factor because i was like it's not gonna work nothing works just i'm
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it was 1995 i tried it for three weeks i actually said to her i don't think this stuff is working
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uh then i stopped taking it and oh oh no it it was working and the longer i took it the better i got
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we have uh we have congressman patrick mchenry uh on with us he is from north carolina uh and he's
00:45:40.720
going to give us the update on the federal reserve and digital currency and what is what's really
00:45:45.820
happening congressman how are you sir great to be with you glenn thanks for the time you bet uh so
00:45:52.160
you know this is really a weird topic in america because people either deny that this could happen
00:45:59.540
or they uh they they say things like we already have a digital currency i never use cash
00:46:06.360
a can you verify that this is the direction of the treasury and the fed uh and b explain the difference
00:46:16.920
between a a fed coin if you will and you know us just having a debit card well glenn you're the best
00:46:26.500
educator on a broad array of of subjects here but so let's start with the basics of what is a digital
00:46:34.500
currency or digital asset um so let's think of the internet first uh the first uh iteration of the web
00:46:42.540
was in essence a reading mechanism so you see you you know you you pull up the uh uh information
00:46:51.480
on glenn back it says the programs at this time right um that's it uh that's web one web two
00:46:58.460
is read and write so let's think of this as let's say facebook or twitter so you have a corporation
00:47:05.680
that creates the venue and then we are able to communicate through that venue and they benefited
00:47:11.340
crews to that corporation because they've they they own the code and they own the operations and they
00:47:17.960
monetize our actions on web two there are a number of problems with this and we've addressed that in
00:47:24.400
terms of speech bias and everything else that needs to be addressed web three is around digital assets
00:47:30.820
and that it means that our interactions uh we can actually have a stake in our interactions
00:47:38.520
uh and the bytes and bits that we're exchanging via the web we can actually have a money if you will
00:47:46.400
connected with that movement of uh of uh of uh of code and so um web three can cure a number of the ills of web two
00:47:58.500
and it's born out of bitcoin and uh a distributed ledger uh technology that we call blockchain
00:48:06.740
and the way to open the door within a blockchain technology is a cryptocurrency
00:48:14.000
so you could call it bitcoin is probably the best example for us that key opens the door just like
00:48:21.380
when you go home you own your house but the key is the representation that you actually own your house
00:48:28.280
uh you can grant other people keys but that doesn't tell them that they own it uh digital keys
00:48:33.860
have a special set of of of capacity that is born out of technology and a distributed open ledger
00:48:41.460
anyone can participate in bitcoin you can get in you can get out it's on the ledger and it's public
00:48:47.720
information that you've purchased or sold a quantity of bitcoin and that is in the ledger those exchanges
00:48:54.920
are open now what we're talking about with the federal reserve and with digital u.s dollars is a very
00:49:04.680
different concept most of our money that we exchange is digital right now um and banks to banks do that
00:49:13.320
they don't actually move physical currency like they did 50 years ago um and that means that they can
00:49:20.140
through the relationship of the federal reserve uh on a ledger if you will a spreadsheet if you will
00:49:26.560
uh exchange value between institutions and therefore our accounts within those institutions
00:49:32.780
what the federal reserve is contemplating is something that looks much more like that open ledger
00:49:39.100
of some sort and our money our u.s dollar would be a representation on that open ledger well that's
00:49:47.200
fine well and good except there are a number of civil liberties concerns when you have the government
00:49:53.380
in the midst of your technology exchange and those civil liberties concerns we have to address
00:49:59.120
if we're going to have uh a a a blockchain enabled uh u.s dollar um or digit u.s dollar uh or federal
00:50:10.840
reserve uh backed uh digital asset so they are not from everything i've read they are not really
00:50:18.020
interested in the blockchain part of it they i mean look i'm talking to congressman patrick mchenry
00:50:25.600
uh on good authority as several congressmen have said uh if the republicans take the house he'll be
00:50:31.900
the next chairman of financial services so you know this stuff inside and out um you know they're
00:50:38.980
talking about a programmable um currency which would fit right into modern monetary theory which is
00:50:46.760
what we're doing now print print print as long as you can control labor uh production and spending
00:50:54.880
down to the smallest level yes and so when you have this technology that's freely available and it's
00:51:03.720
open um an open technology that is very different than a closed off system that the government runs
00:51:10.680
so yes the federal reserve and the treasury are contemplating they've already put out white papers
00:51:15.700
about how they would design a central bank digital currency uh what the left likes about this
00:51:22.560
is that you could have an account with the federal reserve uh that means instead of your bank account
00:51:27.960
and the traditional system of lending in this country which is which is uh almost entirely a private
00:51:34.080
sector endeavor uh this would give the government much more control uh the hope for the left is that
00:51:40.560
they can effectuate their left-wing uh you know beliefs through uh the financial system and most
00:51:48.900
explicitly if the government is in direct power of lending this is precisely what the chinese are
00:51:54.860
contemplating with their digital yuan they want to know uh the district that uh you and i um i purchased
00:52:04.020
lunch and uh you know glenn sends me 15 to pay for his share of you know whatever we had um well the
00:52:13.180
government wants would be able to track that and what the chinese want if you have a digital currency
00:52:18.660
you'd be able to the government would be able to track uh track that and what the chinese one is
00:52:23.160
precisely that information uh precisely your movement information of data of data and the value
00:52:30.340
exchange between people what our concern is here in the united states is that we in our constitutional
00:52:36.380
order the government is not entitled to that type of information and in our constitution the power of
00:52:43.420
currency is not explicitly reserved to governments um but it is but when the government engages in
00:52:51.300
that type of creation in our monetary system our constitution contemplates that congress has to
00:52:57.540
authorize that this so and the federal reserve has admitted this and said uh no congress would have
00:53:04.080
to legislate if we're going to have a central bank digital currency or a federal reserve backed
00:53:10.660
uh digital currency and so i i think it's important that congress be involved in this and be the driving
00:53:17.280
force if we're even going to contemplate uh something like what the chinese are contemplating why wouldn't
00:53:23.980
we just let the private market work this out bitcoin um the one of the reasons it has such fluctuation
00:53:32.300
is because the government keeps spooking everybody um why wouldn't we just say all right there's coins
00:53:40.000
out there available and they're not being tracked and uh and it's a it's an easy way for people to do
00:53:47.280
this why don't we get out of that business well because it's the federal government and i mean i
00:53:55.940
i mean you look at it you're like why did the bear bite someone right it's a bear bear yeah okay yeah
00:54:04.580
um so they want control and when they see movement in the private sector they want to first have the
00:54:11.180
data of what what the exchange was and then once they have the data this is kind of axiomatic that
00:54:17.980
you know reagan exemplifies his best and so so then they want to regulate it uh then they then then
00:54:24.660
they want to regulate it so so much so they have to subsidize it right and then they want it to be a
00:54:29.840
federal property so you look at what they've done with student loans what the left has done with
00:54:33.300
student loans and they've foisted a generation with greater debt because of a government program
00:54:38.520
so here they want to be able to control this vital lever of governmental power which is the power over
00:54:48.220
currency and the value of currency you've explained very well about inflation and how nefarious
00:54:55.160
inflation is the the government wants greater control of the money supply and that is a it's a
00:55:02.480
motivation of government since the beginning of time and if you can determine the value of a thing
00:55:07.240
it is this enormous power over all these other issues in society uh the odds of of congress
00:55:19.500
low the odds of congress approving this in an emergency well
00:55:28.160
uh frighteningly high yeah so you think of the emergency they had around the traffic jam
00:55:36.560
in their capital in canada yep because people parked their vehicles and inconvenienced a city
00:55:45.200
and therefore the government of canada took and seized people's bank accounts because they were
00:55:53.660
inconveniencing people in in creating a massive traffic event in a city so what we have to do is
00:56:01.240
war against the federal government here in the united states doing something as insane as what the
00:56:07.380
canadians do and i'm going to work very hard to make sure that our regulators don't have any of those
00:56:12.900
powers uh to seize people's bank accounts or to stop the flow of money around people's political
00:56:20.180
decisions and and political debate this sounds like a guy who uh has got to be fighting against esg
00:56:27.980
for sure and what we have to do is have a counterpoint to liberal money and the progressive agenda
00:56:36.660
that is driving the pension funds that's driving the the investment in companies driving the valuation
00:56:43.980
of companies and if we don't have a conservative counterpoint to the insanity of esg uh we are
00:56:51.760
going to be in a worse off a dramatically worse position and we're going to allow the rest of the
00:56:56.780
country the globe catch up to us economically because of our stupidity what we should not do
00:57:02.360
is incorporate the german uh energy policy to the united states which is expressly what the biden
00:57:09.960
administration is doing have we ever met patrick because i you're like a brother from another
00:57:17.840
mother here uh i i uh i i've been listening to you for years and so uh inspiration for sure and i'm
00:57:27.420
grateful for it um and grateful for the education you provide wow thank you very much well anything i can
00:57:33.220
do we you are on the right track and i don't think there is anything more important uh in this next
00:57:40.320
election than uh dismantling this i i don't even know what you would call it uh racketeering uh or
00:57:48.820
uh you know mob tactics to our financial services through esg it is the end of us just as much as
00:57:57.140
modern monetary theory will be the end of us and strangely they're connected they are yeah absolutely
00:58:03.200
thank you so much anything we can do to help you let us know thank you thank you glenn you bet
00:58:08.660
that's a uh congressman patrick mc uh mchenry who if they uh if the republicans take the house
00:58:16.200
he would be the chairman of financial services and after talking to him i like that a lot
00:58:23.220
all right tuttle twins um we were just talking about education on things and too many people
00:58:32.220
i mean the fed gets away with these things and the government gets away with these things because
00:58:37.620
people don't understand basic items basic principles and honestly that's by design our education system
00:58:49.160
anyway uh i've got a lot to say about that anyway um right now tuttle twins uh i have i have urged the
00:58:59.460
publishers to please give the tuttle twins and the creature from jekyll island away for free because
00:59:05.600
i think this is every parent grandparent needs to read this and every family needs to understand
00:59:13.260
what's happening right now the creature from jekyll island that's actually a a very well-known
00:59:18.560
um uh expose of the fed and how it was started it was actually started at a place called jekyll island
00:59:24.680
so appropriate in secret uh and it this book explains the fed how it was created uh what
00:59:32.360
causes inflation what does the value of your dollar even mean if we're going into unprecedented times
00:59:41.160
i want you to read this book tuttle twins the tuttle twins and the creature from jekyll island you will
00:59:47.240
get it for free you just pay for shipping get it for free it's one in the series but you'll get this
00:59:51.920
one for free nothing else just pay for shipping tuttle twins and the creature from jekyll island
01:00:18.920
uh we need to talk about what has happened with our intelligence community that came out yesterday
01:00:24.920
do we happen to have the audio of the um ap reporter at the pentagon uh it's too long here okay we'll play
01:00:33.980
it in a little while um he is play a little bit of it just just so we can hear a bit uh thanks uh okay
01:00:41.180
well that's uh quite a mouthful there um so you said actions such as these suggest otherwise suggest
01:00:49.340
meaning that they suggest they're not interested in talks and they're going to go ahead with some kind
01:00:53.260
of a what action are you talking about one the actions i've just pointed to uh the fact action
01:01:00.220
the fact that russia continues to engage uh in disinformation uh you made an allegation that they might
01:01:07.980
do that have they actually done it uh what we know matt is what we what i have just said that they
01:01:13.600
have engaged in this activity this is an amazing thing i've got to play the whole thing later
01:01:17.900
this is amazing the ap reporter knew you're lying to us you're lying to us i know how this works
01:01:25.980
if you were really telling us the truth you would give us x y and z and you'd show it to us
01:01:31.720
but you don't have anything well we find out now that that one journalist actually doing the job of
01:01:40.360
a journalist was right the intelligence community has been releasing bogus information
01:01:49.740
and planting it in our own press uh that's a real problem and i think that's against the law
01:02:01.220
isn't it using propaganda now they're saying they're using it for russia but this whole thing about
01:02:07.780
chemical weapons that they might use chemical weapons we had no intel on that or no verifiable intel
01:02:13.540
what they did with this steel report is what they're now doing to us and to russia the same people
01:02:24.020
that were involved in the steel report and just taking gross information that has not been vetted at all
01:02:31.660
you know they might they might use chemical weapons write that down put that in the report
01:02:36.780
they're reporting it because they want to stop russia just like they reported bogus information
01:02:44.880
because they wanted to stop donald trump there is no difference and it's the same people
01:02:50.460
and when russia starts making false claims about chemical weapons how do we maintain the high
01:02:56.020
ground when we have already talked about how we didn't have that information we accused them of
01:03:01.760
it anyway so damning because nobody believes anything anymore anyway how do our allies believe us if we
01:03:09.100
know now that we're engaged in disinformation and how does the press have the balls to say that my
01:03:18.000
opinion on what's happening is misinformation when they're funneling most likely knowingly
01:03:25.460
misinformation from the pentagon this is an unworkable system here gang they just keep throwing tire irons
01:03:36.280
into the spokes it it cannot continue to roll very long we've got to fix the underlying problems and
01:03:46.180
that means a lot of people need to be fired the glenn back program
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this is the glenn beck program welcome to michael malice the author of the anarchist handbook
01:05:33.840
dear reader the unauthorized autobiography of kim jong uh two and the new right a journey to the fringe
01:05:41.740
of american politics uh co-author strangely of two new york times bestsellers i huh who knew he could
01:05:51.520
get on the new york i can't get on the new york times i mean not on the top 10 yeah you're number
01:05:56.320
one in sales but number 15 on the new york times it's amazing how that works uh welcome to mr michael
01:06:02.960
malice hi michael how are you good morning sunday morning yeah yeah um i've got several things to talk
01:06:10.680
about first of all love to hear your opinion on the ap reporter that absolutely knew the pentagon was
01:06:18.420
lying when they were like yeah and russia might be using chemical weapons uh and now we find out that
01:06:24.360
our national security council and our intelligence are spreading misinformation they're using it they
01:06:31.300
and they think it's a noble lie uh you know we're just trying to stop russia trying to beat them to the
01:06:36.540
punch so they are using disinformation on the american people and on the rest of the world
01:06:43.960
that doesn't sound like a good idea uh it may have been a good idea maybe 20 years ago when you wouldn't
01:06:50.180
have social media and other such mechanisms that can demonstrate things that aren't true and have them
01:06:56.040
spread you know quite literally at the speed of light i think this is just piss poor strategy i think if
01:07:02.160
you want to whip people into a frenzy against russia and talk about the things the russians are doing
01:07:08.500
anytime you add lies on top of that pile it's just going to alienate people and there is a huge
01:07:15.260
percentage of population both from democrats and from republicans that whoever the sitting president is
01:07:21.900
they're just going to immediately disbelieve anything they say on its face so to have like actual
01:07:26.940
receipts that they're being deceptive is really crazy and also it just speaks to the why i'm hopeful
01:07:34.780
about the future you know the enemy class which includes corporate journalists these are not clever
01:07:40.240
sophisticated people uh they're not good at being manipulative they've just been at it for a hundred years
01:07:47.720
and they're not in a position to change their strategy and that bodes well for all of us yeah and i you know
01:07:54.740
i was thinking i was thought about you this morning when i was reading this article because i thought
01:07:58.920
this is what the founders wanted us to feel like not about journalists and they were counting on
01:08:05.360
journalists holding the line uh but they wanted us i mean george washington talked about it thomas
01:08:10.260
jefferson talked about it all the time the government uh should never be feared by the people the government
01:08:16.860
should fear uh the people rising up and the peoples holding them accountable and never trust the
01:08:26.480
government and we've we've trusted it for so long and i think this is actually a good thing that we
01:08:32.840
don't really trust them anymore well i don't know who we is here sir but you're speaking to an anarchist
01:08:37.580
so we have never trusted the government i will also point out that you're that jefferson i'm a big
01:08:43.180
alexander hamilton fan but jefferson was a good example of this because glenn as you know and i
01:08:48.160
know people find interesting when jefferson was in the cabinet washington's cabinet he's leaking left
01:08:53.360
and right to the press to make washington look bad so he in this case put his money where his mouth is
01:08:59.160
and he used uh the press as a mechanism to keep the government in check so uh this has been going on
01:09:06.020
this kind of uh backdoor collusion between the media and the federal government since again the
01:09:11.460
washington administration it always it always but you know the one thing we did have is we had a
01:09:16.900
media that i mean when i was watching that uh video it was about two months ago with the ap reporter
01:09:23.660
sitting there and just not giving the pentagon any room to breathe he's like look so where's the
01:09:30.140
evidence because i know how this works you say something like that and you usually come out here
01:09:35.160
and you'll show us declassify but you're not doing that so you don't have any evidence no of course
01:09:40.760
we have evidence we're not going to share with you now we find out that they don't but there was
01:09:45.860
only one guy in the press that did that i'll defend them broadly speaking in one sense i don't think any
01:09:54.540
of us are privy to what kind of pressure the pentagon and and the state is capable exerting on uh media
01:10:02.060
outlets uh what kind of phone calls they can make behind closed doors to make sure their story gets out
01:10:07.260
i think they have a lot more leverage than any of us realize not that could have been there well not
01:10:12.280
you of course but that can manifest in things like reporters being told okay we're not talking about
01:10:17.200
this issue and what is that individual reporter working for a media conglomerate supposed to do
01:10:21.500
that media that media reporter uh has what's called the internet and should go out and expose it
01:10:27.940
that's what they should do anybody at this point that looks at their job and says i'm going to be
01:10:34.900
quiet when i have information that is really critical to the survival of our country and our
01:10:42.480
republic uh i don't i i i hold you responsible you should have said something i drives me nuts when
01:10:50.320
these people leave you know years of service at the pentagon or whatever and then they come out a
01:10:54.940
year later with a tell-all book why didn't you say something when you were there yeah yeah i mean
01:11:01.060
you're not going to have me defend them in the sense of saying that they're courageous people i'm
01:11:05.380
just saying that it makes sense in many cases why they would make those decisions that they did
01:11:09.760
so the new york time or the washington post came out this week and said elon musk uh investing in
01:11:16.780
twitter bad news for free speech i mean that is the upside down world i i i was ecstatic because
01:11:26.720
i think what is elon musk i had this tweet that elon musk has done a better job of going on on
01:11:32.560
offense than practically the entire conservative movement yeah what's wonderful about this and i
01:11:37.260
don't think elon particularly cares about free speech so much as being a counter puncher like
01:11:41.460
president trump was in certain contexts for them twitter was their sacred space this was their temple
01:11:46.740
this was their place to manage the conversation to discuss the political issues and now you have this
01:11:53.300
heretic you know crossing the you know crossing the rubicon saying this is my house now and this
01:11:59.460
is causing them before he's done one single thing the only thing he's teased is do you guys want an edit
01:12:04.900
button so the fact that he's in their house is causing them so much existential distress it's absolutely
01:12:12.700
hilarious because the key is you have to go where the enemy class is and make them feel unsafe make them
01:12:19.380
feel that their forts are breached because then they don't have that air of smugness and they're going to have
01:12:24.920
that shrieking of fear correctly because they're not in charge anymore what is different about elon musk than
01:12:34.320
others i mean he is he has is it his his uh kind of i hate to say this because i hate thomas edison
01:12:43.380
but is it is thomas edison kind of i'm just going to go out and do it uh that kind of that kind of
01:12:50.820
american spirit that gives him a little protection from people talking about elon musk you're using
01:12:56.140
edison should you use tesla yeah or tesla yeah yeah i guess i should tesla kind of died broke so yeah
01:13:02.880
but you know tesla's another better example because elon musk is an immigrant listen i'm an immigrant as
01:13:07.760
well and when you're born in another country a lot of the things that americans kind of take for
01:13:12.600
granite you absorb through osmosis you're not going to kind of be raised in that context um and i think
01:13:19.180
elon and i'm being quite serious here elon's on the spectrum he's he's got asperger's by his own
01:13:23.620
admission when you have that kind of hyperlogical mindset a lot of things that other people might
01:13:28.880
kind of fall prey to you're not you're going to have more strength to stand up so when he sees who
01:13:34.240
is up against him and the smears and the lies uh he's in a much better position especially given his
01:13:39.400
wealth and his also his idiosyncratic personality uh to fight back and realize okay these are not
01:13:44.620
people making mistakes these are people who if they had their druthers loved me yesterday and now
01:13:49.280
want to put me out of business today uh you know i will tell you that you know everybody looks at
01:13:53.880
asperger's as you know something horrible your kids would would have um however it's actually
01:14:01.320
uh turning out you know if you can control it it's like add if you can control it it actually
01:14:08.100
works out to be something really good for the culture that we're in right now yeah there's
01:14:15.300
certain great advantages uh people on the spectrum have that others don't so i think there's a big
01:14:20.180
movement among people with autism to kind of humanize and be like hey we're not disabled that
01:14:25.720
we just think differently and i think there's a lot to that um so the the twitter thing with elon
01:14:31.840
musk came out what april 5th is when they were first reporting on that's when the washington
01:14:36.960
post said it was a danger the seventh uh we get a story about the new york times coming out and
01:14:43.800
saying you know you reporters here at the new york times you don't have to use twitter uh because
01:14:50.560
we run the danger of uh you know an echo chamber if we're spending too much too much they just thought
01:14:57.360
of this too much time on twitter uh and there's a lot of really dangerous people on twitter uh so you
01:15:04.920
don't have to use it are those connected well it's i don't think they're connected per se i think it
01:15:10.580
speaks to when taylor lorenz who's a you know one of the most malevolent new york times reporters
01:15:14.620
she was embassy msnbc you know crying about how mean people are her and twitter notice the two
01:15:20.080
contradictory statements glenn if it's an echo chamber there's no nasty people if you're just
01:15:24.760
talking to each other how are you getting all this hate so it's clearly it's not an echo chamber
01:15:29.680
um then twitter has demonstrated to corporate journalists how much hatred and contempt the
01:15:34.980
average person correctly has for them uh i think what happened is i'm sure after that crying fit um
01:15:41.740
there were phone calls behind the scenes to twitter asking them to crack down and make people treat
01:15:46.760
journalists nicer they drew the line and as a result the new york times is somewhat retreating
01:15:51.720
i'll take this with a grain of salt i think we all remember in 2016 after president trump won
01:15:57.720
dean banquet who's head of the new york times said oh we're gonna do a better job of trying to
01:16:02.220
accommodate you know more americans our reporting was way off and instead they double triple quadruple
01:16:06.740
down but i think this is a big retreat uh this is them you know we had four years of like social
01:16:12.440
media misinformation you know journalists are being treated poorly when they're the heroes of our
01:16:16.960
society and you know the more they're crapped on instead of doubling down now they're having to
01:16:21.680
retreat so this is a victory that people should be very grateful for even though it's a very small victory
01:16:26.960
uh one last thing i've we've got about 90 seconds for this um esi energy on tuesday pleaded guilty to
01:16:35.300
three counts of violations um in their their wind farms they uh are a big wind power developer and
01:16:45.260
apparently they pled guilty to the murder of golden eagles uh apparently the birds were killed by
01:16:56.500
blunt force trauma after being quote struck by the wind turbine blades at its facilities in wyoming or
01:17:04.640
new mexico uh and uh they're they're paying 6.2 million dollars in rest of restitution i i guess to
01:17:12.700
the eagles families um but this is just to me this is just another thing that shows environmentalists are
01:17:20.520
never going to be happy with anything anything well i'm a big endangered species person i've got 200
01:17:26.740
species of succulents in my house and i just looked it up while we're talking the golden eagle is the
01:17:31.260
most widely distributed species of eagle it's not endangered it's not even vulnerable and you're
01:17:36.300
threatened it's least concern so this seems to me to be completely nuts if this was some kind of bird
01:17:41.600
where there's like 50 of them left then i could understand the idea of all right we have to have
01:17:45.400
draconian measures to kind of protect them but that is not the case with this species at all so
01:17:49.940
this is just you know very bizarre but this isn't unusual wind farms are known uh for just decimating
01:17:55.400
bird populations and by the way those of you who have cats that live outside your cat's entire life is
01:18:00.740
dedicated to killing those birds that's a thing they like murder birds all day it's their favorite thing
01:18:08.200
i had a i had a uh a hawk i think land in my backyard the other day and uh we were all watching we were
01:18:16.340
having dinner and then we realized the reason why it landed is it was having dinner as well yeah yeah i
01:18:23.500
mean it's it's a it's a vicious way to die uh by talon but i don't have to worry about it neither do you so
01:18:30.480
let's move on with our lives michael thank you so much always a pleasure yeah you bet uh michael malice you
01:18:38.000
can uh follow him uh on twitter but remember it's just an echo chamber uh michael malice.com is his
01:18:46.580
website back in just a minute all right there is all kinds of news on the economy in fact let me give
01:18:54.320
you something that i just saw this this morning rising mortgage rates cause more homeowners to sell
01:19:00.740
at lower asking prices uh also uh the fed fed st louis is saying that they want three what are called
01:19:11.100
300 basis points in the next fed meeting that means they want to raise the interest rate to three and a
01:19:20.200
half percent that'll mean that because most of the loans now are starting to be around four or five
01:19:29.220
your loan for a mortgage very soon if the fed in st louis gets their way would be seven to ten percent
01:19:38.700
that's going to change things an awful lot you need to sell your house you need to sell it now get the
01:19:45.460
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01:19:51.560
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01:19:58.240
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01:20:22.680
lots of progress being made in the states on the uh issue of esg
01:20:38.320
uh currently there are now 28 states working on stopping some part of esg that is up from 20 states
01:20:46.680
just a few weeks ago uh even more impressive back then many of the 20 states on the list weren't
01:20:52.020
considering legislation only action from the treasurer today all but one of the 28 states on
01:20:58.800
our list are working on at least some kind of anti-esg legislation um some states are working on full
01:21:05.940
esg bans and those are the best bills in my opinion others have treasurers working on limiting esg but
01:21:14.300
no bills planned um and they are looking to stop the state from doing business with companies actively
01:21:20.640
using ef esg measurements to undermine key industries agriculture timber fossil fuel related industries
01:21:29.320
yada yada yada most of the states are doing a little bit of everything states where legislators are
01:21:34.640
working on full esg bans this year or in 23 arizona kansas louisiana minnesota new hampshire the bill in
01:21:45.260
new hampshire is now in the senate oklahoma south carolina utah wyoming we also have commitments
01:21:51.060
from lawmakers in idaho that you know maybe someday maybe in 2030 they actually say next year we'll see
01:21:58.440
i know there's a lot of good people in the republican party that are working for it but
01:22:02.340
some of the republicans have sold out um florida indiana missouri north dakota has already passed
01:22:09.240
it tennessee texas already passed we're hoping for a full esg ban next year west virginia kentucky
01:22:15.620
it recently passed but the governor a democrat has vetoed that bill and we're expecting that they're
01:22:21.820
going to try to override that veto where they are trying to divest themselves from these funds
01:22:28.300
the glenn back program carol roth is joining us in just a second she is a former investment banker
01:22:34.960
i've got so many questions for first of all the rising mortgage rates should you buy a house not buy
01:22:41.020
a house what i mean what do you do lots of questions coming in to me every day so do i buy something and
01:22:49.160
i'm like i don't know don't don't listen to me for investment advice i heard something on when i was
01:22:56.060
doing prep and stuff this morning that there is uh that the the market's showing the very first signs
01:23:02.860
of cooling off oh yeah is that yeah you're starting to see house housing prices go down the the mortgage
01:23:09.560
um business i think has gone down 40 percent just in the last you know two months i heard that people
01:23:17.260
are now get get this taking less than their listed price for homes is that true can that happen is
01:23:23.940
that allowed no it never goes down i thought it was supposed to only be 20 above asking yeah it never
01:23:29.020
goes down and this really interesting thing from the the uh federal reserve uh from st louis saying
01:23:36.560
we need three and a half percent interest right now
01:24:04.000
what you are about to hear is the fusion of entertainment and enlightenment
01:24:28.880
hello america welcome to the glenbeck program it's friday i want to take a last look at the
01:24:42.280
economy for the week and your money in particular carol roth joins us in 60 seconds
01:24:49.240
right now out there somewhere there's a cyber criminal who needs your help for just pennies a
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day he can you can ensure that he has running water food electricity transportation and an xbox
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with plenty of games occasional trips to sea world movie tickets and everything else that he might need
01:25:10.080
to survive what do you have that you can donate to these cyber criminals when i say pennies a day
01:25:17.540
i mean a lot of pennies like all of your pennies uh maybe even a few you haven't even made yet
01:25:24.320
that's what cyber criminals do and uh it's called identity theft and they can just they can destroy
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not only your financial well-being but they destroy
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all of the credibility that you have built up over the years of being good for
01:25:42.780
whatever you have promised to pay be good for a loan no one can prevent all identity theft or monitor
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carol roth a recovering investment baker and the author of the war on small business
01:26:24.560
she has just released a new article you'll find it at theblaze.com creative ways to come to combat
01:26:33.300
inflation carol i went over that uh with the audience yesterday um really really good and so much
01:26:41.320
better than uh take the bus and what what do they say eat lentils lentils yeah thank you bloomberg for
01:26:51.020
that go big on lentils so grab that article now at theblaze.com creative ways to help combat
01:26:57.160
inflation she has some really good advice on what people should be doing right now to save um let me
01:27:04.380
ask you about the uh mortgage situation i'm getting a ton of calls and emails from people that say
01:27:11.180
should i buy so should i buy a home or not buy a home what what do you have any advice on that or any
01:27:18.660
insight all right so i'll give insight because we're not allowed to give financial advice uh this is the
01:27:25.200
disclaimer this is not financial advice this is just information for you to research and to consider
01:27:30.640
so there are a couple of things to think about um this is again a rule of thumb um for every
01:27:37.180
one percent that a mortgage rate goes up you are going to add about 10 percent to the cost of your
01:27:45.920
home over the time that you buy the home so you know as you can as you see it kind of tick up and tick
01:27:51.880
up you know if you wait and you have to get a higher and higher mortgage rate just keep in mind that you
01:27:57.260
that's going to add 10 on the back end which you're not seeing up front when you pay it i also heard i
01:28:03.720
was with neil cavuto earlier this week and he gave me a statistic that apparently the breaking point where
01:28:10.220
it becomes unaffordable for people to buy homes um and we haven't seen this in a while so i just don't
01:28:16.040
know how accurate it is today is 5.75 so apparently that's kind of what the industry thinks is the magic
01:28:23.900
number there are a couple of competing things that we have going on right now um we obviously have
01:28:30.560
home prices that have been severely inflated because of the federal reserves intervention in
01:28:36.580
the market but we also have now a um a situation where our dollars are going to be worth less so we
01:28:45.140
need to have hard assets we also have a severe undersupply of homes in the market after the
01:28:53.400
great recession financial crisis that next decade we were underbuilt by you know kind of four to five
01:28:59.400
million homes so depending on who you ask uh four to five plus million homes that we need in terms of
01:29:06.460
the the housing for individuals and we've obviously had a slowdown on immigration so we know the
01:29:12.480
Biden administration is going to ramp that up again there's going to be more demand for housing
01:29:16.760
so i would imagine that even if there is some pullback you know for some point in time the fact
01:29:24.280
that we have such undersupply and it's going to take so long to fill that in is going to at some point
01:29:30.580
provide a level support not to mention as we've talked about glenn and we've written some articles at
01:29:35.220
the blaze about um you've got these corporations who are flush with cash who are coming in and being
01:29:40.060
buyers so you've got more buyers than just homeowners in the market that also provides some
01:29:45.600
support for pricing at some point i i really hate the uh expression yeah but this time it's different
01:29:51.600
because it usually never is but this time um there is one additional element and that is we don't have
01:29:58.640
a glut of housing we we actually have the opposite problem um now let me ask you this because the
01:30:05.240
interest rates at the banks are already going up for your loans uh and it's up it's already up in
01:30:10.940
the fours in some places close to five or five yeah um and uh yet the banks are only paying
01:30:18.260
point five percent interest for the loans correct uh i don't know the exact amount that's sort of the
01:30:26.740
national average now but in terms of um the spreads obviously a rising interest rate environment
01:30:33.040
is more favorable to banks and we have a situation where banks are flush with cash from what's been
01:30:39.720
going on over the last couple of years so even if you have savings in your bank um they're not going
01:30:45.580
to be paying you very much on that because they don't need to incentivize people to give them more
01:30:50.400
money right no i'm i'm asking about the the way you curb inflation is the fed charges the banks
01:30:58.600
more money more uh more interest for them to borrow money from the fed to be able to lend it out
01:31:06.580
so they're paying maybe two percent you're paying five percent and uh they get to keep the three percent
01:31:13.440
that two percent goes back to be burned right yeah so i so i don't i i don't have the specific
01:31:19.580
kind of number of on average of where banks are in terms of their capital to give you a really
01:31:25.820
specific answer i can answer that next time but yes that is sort of the spread that's how banks
01:31:31.560
make money right they they take it they take money at a lower rate they they put it out at a higher rate
01:31:36.700
but you have to remember too they're also projecting into the future because they're locking in in some
01:31:42.140
cases that rate for you for up to 30 years so they're they're kind of projecting it over time so i'm
01:31:47.980
not i'm not bashing the banks for making profit okay that's fine um what i'm what i'm questioning is
01:31:55.480
how does the fed suck that money back in from banks that are flush with cash okay so basically
01:32:05.080
what they have done um well really over the last 10 to 12 years but then they accelerated over the
01:32:11.760
last couple of years is they have bought assets in the market so they went in they bought two
01:32:17.680
different asset classes they bought treasury securities and they bought mortgage-backed securities
01:32:23.300
and they're sitting with nine trillion of those the fed nine trillion dollars worth of those on
01:32:29.040
their balance sheet which by the way as we've talked about before they bought that with money
01:32:33.160
they created out of nowhere when we when we do that we create money out of nowhere and go buy things
01:32:37.480
it's fraud when the fed does it it's monetary policy so they created money which is you know what is
01:32:43.240
driving up the price of everything because it's not productive assets they just added more to the
01:32:48.140
money supply and they went out into the market and they bought all of these assets now in addition
01:32:53.960
to raising the interest rate the other thing that you heard out of the fed from their minutes this week
01:32:59.900
is quantitative tightening they're going to let that balance sheet run off either with direct sales
01:33:06.580
or just by letting those assets mature and not reinvesting the money and that's what changes the dynamic
01:33:13.920
of getting the money out of the market okay but but you can't just if you bought treasury bills
01:33:19.220
you can let it expire but that means the government has to sell that someplace and uh right now the
01:33:28.460
treasury is not having to really pay interest to the federal reserve because it's illegal so those are
01:33:36.200
almost interest free loans for our debt and the rub is when they when they take back in any profit off
01:33:47.140
their securities they actually have to give it by law back to the treasury right so we're getting we are
01:33:53.440
actually getting free loans but that ride is going to come to an end and in in high inflation i mean
01:34:01.960
you're looking at if i mean if they can't sell those treasuries and you can't pay the interest rate
01:34:09.720
then you are technically in default yeah as i said there's sort of two different strategies they have
01:34:15.760
they either let them mature and then they just run off the balance sheets you know because they have
01:34:21.500
them at different maturities so they don't actually sell them into the market and then the secondary
01:34:26.860
strategy is actually selling them back into the market but going back to bonds which is super
01:34:32.400
complicated it goes back to the differential between yields and the bond prices so when you you
01:34:38.620
know that they trade on an inverse basis and that's why you're seeing the the yields increase okay so
01:34:44.440
let's get out of the talk let me let me just let me just ask one more question on this
01:34:49.420
how possible do you think it is that uh i mean the government pensions already have to buy railroad
01:35:01.180
u.s postal service u.s military etc etc they have a requirement that those pensions hold 20 percent
01:35:11.260
in treasuries um it's a great way to force people to buy your treasuries now that's government workers so
01:35:18.460
whatever how likely is it that when we run out of people who want to buy our bonds and our debt
01:35:24.920
that they just go to a couple of things they they go and say you're not going to get the federal
01:35:30.760
insurance on this unless you buy and balance u.s treasuries with it you buy some of the debt
01:35:37.240
um and also the same kind of thing is with uncle sam and esg you you won't be able to get insurance
01:35:46.360
unless you buy these certain things i mean it's a possibility but look at what they just did
01:35:53.760
during covid there were no international buyers there were no domestic buyers to stand by and
01:35:59.400
buy trillions of dollars worth of bonds to cover the spending that we did for quote unquote covid relief
01:36:05.400
um and that's why the fed bought it i mean it was basically the monetization of the debt
01:36:10.680
and obviously that's part of what caused inflation the thought process is that as they raise interest
01:36:17.200
rates start to just decrease the balance sheet they hit a wall they can't do it anymore and they
01:36:21.800
reverse course and we've seen this happen over and over again over the last 12 years where oh we're
01:36:27.220
going to shrink the balance sheet the market kind of freaks out you know the congress has their spending
01:36:32.520
plans and they change course so the reality is um in terms of the cycle that there's some point
01:36:38.920
in which they probably end up changing and going back and buying more assets again um let me let me
01:36:47.120
let me one more question on the interest rates the st louis federal reserve leader has come out and
01:36:54.540
said we need to raise interest rates immediately by three points um that would bring us to 3.5 at the bank
01:37:04.240
level uh what how does the fed work does the st louis fed guy have much say what does that mean
01:37:13.360
um well we've been hearing from a number of people at the fed including the what who's considered to be
01:37:20.300
the the most dovish or the one who's in most favor of a lot of support and stimulus lyle brainard who's up
01:37:27.340
for vice chair of the fed and we've been hearing pretty much sheer panic out of them which is not really
01:37:32.820
comforting for the market and it is so frustrating you should be so angry about this because they had
01:37:39.460
so many opportunities where they could start to raise interest rates or they could have pulled back
01:37:44.560
the buying program which as we talked about has the same impact in terms of rates they were buying
01:37:50.140
securities up until last month so they could have stopped this a long time ago they could have had a
01:37:56.420
nice slow trajectory um you know 25 basis points here 25 basis put there we they could have put us on a
01:38:02.580
normalization path back in june of 2020 the market reached all-time high so this was not something
01:38:07.760
in my opinion that was necessary um and you know they just sort of didn't let a crisis go to waste
01:38:13.300
and now the same people who created this situation who didn't know there was going to be inflation who
01:38:19.000
didn't realize all these things are going to happen are now promising they know exactly what to do
01:38:23.240
to save us from you know this economic catastrophe or a recession or whatever it is um and the idea that
01:38:30.140
you can just all of a sudden start to run off the securities in a major fashion or to jolt rates
01:38:36.940
and that's not going to have major uh repercussions across the economy is absolutely insane okay so i
01:38:45.700
have a piece of good news that i want to run by you because i've seen this more than once and i would
01:38:52.400
love to get your opinion on this we'll return in 60 seconds with carol roth um but the there's a
01:38:59.760
couple of stories out now that says you know this is going to peak this is going to peak uh you know
01:39:04.060
in in march you know i've been hearing that they they think we're at the worst of it right yeah but
01:39:10.880
they've been telling us that for i know and that's why i want to hear from carol see what she thinks
01:39:14.460
look one of the things that you should do uh because this whether it peaks this time and then
01:39:21.540
gets better for a little while and we're right back to the edge uh i don't know but i will tell
01:39:27.280
you this your dollar is losing value and it will continue to lose value until it has no value and they
01:39:35.420
will change out to some other coin in the in the history of the world when the world goes insane they
01:39:42.960
always return to gold and silver they return to things that have intrinsic value that's what
01:39:50.160
you're seeing with russia and with china they're going back and gold and oil as their standard
01:39:55.180
we're not doing that i don't know exactly what we're basing anything on uh but you can do this
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okay carol i am reading stories now i don't know you know this is from ubs uh this is from fortune
01:41:16.020
magazine uh today ubs predicts inflation will peak in march as the consumer price index continues
01:41:25.180
to rise so are what what's happening so basically nobody has a crystal ball um but let's just assume
01:41:39.820
things kind of continue on the trajectory that they're continuing at some point um you know when
01:41:46.760
you go up against a high inflation number and inflation continues to increase on a percentage basis
01:41:54.300
it's a lower percentage growth so it doesn't mean that we've stopped inflation altogether it doesn't
01:42:01.580
mean that we don't still have high inflation it just means that growth number has sort of reached the
01:42:07.200
highest level that we're going to see that's not necessarily great news i mean if we get to you know
01:42:14.520
10 12 you know whatever they're showing on the cpi which we know is undercounting a whole number of
01:42:21.120
things um and then you return back to seven you know it peaked at 13 but now it's seven that's still
01:42:29.360
not great and it's still on top of all of those increases that we have accumulated we're not going
01:42:35.140
back there and if our wages aren't keeping pace that means that your dollar is is continually worth less
01:42:43.020
um so you know obviously it's better than the idea of of hyperinflation that you know just completely
01:42:49.280
destroys the economy um which i don't think we're we're anywhere near at this point but it doesn't
01:42:54.980
mean that we're not going to continue to see elevated inflation numbers and we have so many
01:43:00.280
structural supply demand imbalances we talked in the previous segment about the undersupply of housing
01:43:06.300
um just look at the labor force that the last number is showing about 1.8 jobs available for
01:43:12.700
every worker who's out there and so we don't have enough people to fill jobs which means they're going
01:43:18.900
to demand higher wages which means that the businesses are going to pass those costs on to
01:43:24.400
consumers consumers are going to have a higher cost and say i need higher wages and you end up in some
01:43:29.100
sort of a wage price spiral so between you know commodities between um jobs and between housing
01:43:36.140
there's some really structural supply demand imbalances that could keep inflation at elevated
01:43:42.460
well walmart just said they started a 12-week program here in texas and in delaware where they
01:43:48.960
are training people to be truck drivers uh they'll pay for the earning of the license and the training
01:43:54.380
which is four to five thousand dollars plus the average truck driver for walmart was getting 87 000
01:44:02.140
in their first year now walmart is paying between 95 and 110 000 in your first year of driving a truck
01:44:12.940
for walmart that's going to increase the price of everything at walmart it is and it's going to also
01:44:19.980
further consolidate the economy because walmart's able to do this i've seen similar um articles around
01:44:26.820
small business trucking companies who have locked in rates and are not able to pass on increased costs
01:44:33.300
whether it's fuel or um the cost of labor you know to their customers so guess what's going to end up
01:44:40.020
happening we're going to have more with walmart and more with amazon and fewer small business truckers out
01:44:45.940
there carol thank you so much uh god bless you thanks for all your hard work and your article now
01:44:52.180
at the blaze get it now creative ways to combat inflation she is right on target and she is talking
01:45:00.580
about the things that make sense not the things from wall street or the people that look down on us
01:45:07.540
from wall street and think you know just take the bus it's at blaze tv and blaze.com
01:45:14.420
all right tunnel to tower sometimes we need to um defend our defenders you know there are people that
01:45:24.180
defend our country and defend our life uh did you see what's happening in seattle it is remarkable uh
01:45:32.420
what's happening in seattle people are like i'm getting out of here um because it is so crime ridden
01:45:39.780
now and nobody seems to want to be doing it and the cops god bless the ones that are still there huh
01:45:46.580
uh sometimes those cops um are wounded sometimes the fire department has somebody who falls or is
01:45:53.780
severely injured in fighting a fire and of course we know about our military let's support them let's
01:46:01.300
take care of our heroes and their families when a first responder or military service member doesn't
01:46:07.060
come home and young children are left behind the tunnel to towers foundation is there to lift that
01:46:13.300
financial burden they have several things that they're doing i just want you to check them out
01:46:18.260
and if you will just get on a program eleven dollars a month to help them with this really honorable
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mission at t the number two t.org t2t.org and it's blaze tv.com slash glenn the promo code the alamo
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01:46:47.620
i want to introduce you to uh chris stewart uh the last time he was on the program he was talking to us
01:46:54.180
about some legislation that would uh prevent intelligence agencies from spying on the american
01:47:00.740
citizens i think we already have laws where the government cannot present propaganda to the
01:47:08.820
american people but i think that's kind of what they're doing right now um the story out today is
01:47:16.020
the u.s is using intelligence to fight an info war with russia even when the intelligence is like
01:47:24.260
meh i mean i've heard donald trump you know was in bed with hookers it's the same people and the same
01:47:34.900
routine this is getting extraordinarily dangerous representative uh chris stewart is with us now
01:47:41.060
congressman how are you sir good to be with you sir thanks for the opportunity to talk to you again
01:47:46.420
okay so you are you're on are you on the intel committee or can you even tell me that yeah um
01:47:54.100
are you on are you on uh arms uh the armed services committee no i'm on appropriations as well but that
01:48:02.740
of course is where we fund all of the intelligence yeah and uh and national security okay so but you you
01:48:08.660
hold a uh you hold actually world records in flying you've you uh i think you were a colonel or
01:48:16.260
maybe a sergeant or something uh you've been following this for a very very long time from both
01:48:23.700
a service member and uh a congressman um when is the last time we saw a an administration
01:48:34.180
use intelligence with the exception of donald trump's impeachment use intelligence intelligence
01:48:41.780
that had not been vetted and presented it to the press as facts to run a disinformation campaign
01:48:51.780
well we've seen that multiple times let me give you two and i'll bet you're that they're the two that
01:48:56.100
you're thinking of and they're the two have been i think the most damaging uh events we've seen out of
01:49:01.060
intelligence or any national security apparatus in my lifetime the first you go back to the
01:49:06.180
first goal four where we used intelligence which was uh in hindsight not just mistaken but absolutely
01:49:13.860
wrong we used intelligence to justify and to push a policy that president bush had already decided he
01:49:19.460
was going to do and that was we're going to find weapons of mass distraction or mass destruction in
01:49:24.180
iraq therefore we have to invade to preclude their use right and it turned out that wasn't true there's
01:49:29.060
no question and i think more recently and i think even more damaging was when we had supposed
01:49:34.580
intelligence regarding russian collusion with president trump and that that uh illusion didn't
01:49:41.380
continue for several months as everyone on his program listening knows that went on for years
01:49:46.740
and and in uh cooperation with a with the mainstream media absolutely it led to the near destruction of a
01:49:54.980
president that uh the intelligence and some other officials thought that he just shouldn't be so
01:49:59.860
can you said that glenn i do think that go ahead i do think there's some some examples some some
01:50:05.540
examples recently where we've used intelligence as it should be used you can use it to manipulate
01:50:11.060
and control the battlefield you can use intelligence to uh shape how how the battle is being perceived in
01:50:16.980
the world and i actually think there's been a couple of good examples of that in the last uh seven weeks
01:50:21.780
okay give it to me well for example the intelligence was actually right when we said uh vladimir putin
01:50:29.940
is going to invade ukraine and there were some who didn't believe it i mean president zelinski didn't
01:50:34.340
actually accept it france the leadership of france and some other nato nations didn't believe it
01:50:39.060
but uh but it turned out that the intelligence was actually pretty solid on that there's another
01:50:43.540
example and this was it was important although not well reported and it was uh that was when we said that
01:50:49.700
he's going to plant a false flag president putin was going to plant a false flag he's going to
01:50:54.420
create what appears to be an attack in russian territory i mean they went so far as to go get
01:50:59.860
actual corpses and they mangled and bloodied them up they paid these uh these actors to cry and to weep
01:51:05.380
and they had this destruction and that was not to convince united states but that was to convince china
01:51:10.500
that was to convince india that was to convince the russian people were justified in our attack
01:51:16.020
and we released that before they could release their own video and i think that actually was
01:51:20.260
used to a positive effect so there are some times in the intel committee and i have to give director
01:51:24.740
burns a little bit of credit i think he's been good on some of these things but to your larger point
01:51:29.780
that intelligence agencies have either been manipulated or have willingly been used as propaganda
01:51:36.020
there's no question that that's been true right in the last 22 years i don't have a problem if you
01:51:42.420
have good intel go ahead but we're talking about intel that is either hearsay nothing's really been vetted and
01:51:53.620
verified and they're lying to us and the press is helping how do we have any confidence in anything like for
01:52:05.220
instance i believe that these war crimes of these mass graves i believe they're real but i'm not
01:52:13.700
gonna bet my life on it i don't know because i don't trust anybody anymore
01:52:20.660
yeah and glenn you and i feel exactly the same on that and i in our private conversations i mean you
01:52:26.420
know that i feel exactly i know i i think the i think the greatest threat facing our country
01:52:31.540
isn't russia or even necessarily it's china it's what you just said it's that no one knows what is
01:52:36.820
true anymore and the republic just simply can't survive when no one believes anything about anything any
01:52:43.300
longer and they kind of get so exhausted by it that they quit caring well maybe it's true maybe it's
01:52:48.740
not there's no way for me to ever know so i'm just going to move on and accept what they tell me
01:52:53.620
uh and and you know going back to another conversation i've had glenn deep fakes for example
01:52:58.820
the ability to so so uh expertly and precisely manipulate video that you actually can't tell
01:53:05.860
if it's true or not even by breaking it down and and you cannot ever determine if it's true or not
01:53:11.700
and you know that's just one example of where people just throw their hands up in frustration and say well
01:53:16.260
you know maybe these war crimes are happening over there but it could be they're not because
01:53:20.580
technologically they they could show something that appeared to be true but it wasn't and as we've
01:53:25.380
already discussed they have a history of manipulating and being dishonest with the american
01:53:30.340
people and we gave two really good and very powerful examples of that no wonder the american
01:53:35.060
people don't trust many of these things i will tell you i i said the other day there's going to come a
01:53:40.100
time soon very soon that it might even save your life uh to make sure that you are uh in touch with the
01:53:50.660
spirit with you know the holy spirit or the spirit of god whatever you want to call it but you listen
01:53:55.940
and obey to that because that's the only thing that you can trust right now and these things are
01:54:04.580
happening so fast and furious and you don't know who to believe and i am i'm really terrified of
01:54:13.460
something happening uh you know i don't know if you've seen this yet chris but the deep fakes
01:54:18.500
the voice believe it or not is harder to trick uh than the face and they have not been able to
01:54:26.340
make deep fakes of uh voices until recently and they are perfect now yeah yep i like to say even when
01:54:35.940
you very in a very technical sense break it down you can't determine if it's real or not but two things
01:54:41.700
if i could glenn and if you'll allow me to join in your philosophical comment and that is i i 100
01:54:48.580
agree with you that people are going to have to determine on their own what's real and what's not
01:54:53.380
and if you believe in the battle of good and evil if you believe in in the existence of saint the
01:54:58.580
existence of of god and saint or life and darkness you have to know that saint is just laughing about this
01:55:05.540
this is this is perfect for him he is the one generating uh this uncertainty this doubt this
01:55:11.700
hesitation it's to his benefit because the bible makes it clear the spirit of god is a spirit of
01:55:17.220
freedom and satan seeks to destroy the freedom of every people and if he can use these tools to do that
01:55:24.980
and i think it really is going to come down to this individual uh discernment that people are going
01:55:30.820
to have to are going to have to have and by the way i think people are beginning to see that and
01:55:34.260
beginning to develop uh or to refine that discernment so that they do and then sense what is real and
01:55:39.940
what's not uh one one last uh topic are we really going to say that the revolutionary guard in iran
01:55:51.620
is off the terrorist list is it is that possible that that's happening well with this administration
01:56:00.420
of course it's possible and i think it's likely and you tell me wait wait wait possibly be a good idea
01:56:06.100
likely i think it is under our understanding of this agreement uh it's certainly on the table now we
01:56:13.860
haven't seen the details of the agreement but it's unquestionably on the table and it look how can that
01:56:19.140
be surprising when you've got russia as our intermediary with iran and with the russian officials go back to
01:56:26.100
their own people and say holy cow it's unbelievable what the u.s has conceded on this so yeah it's
01:56:31.700
absolutely on the table and as i said it's probably likely but glenn that's just one example how can you
01:56:37.140
look at that and say that's a good idea how can you look at the southern border and say that's a
01:56:41.300
good idea how can you look at more government spending inflation and say that's a good idea i mean
01:56:45.700
the list goes on and on of things you just think this is insane you have to know what this is doing to
01:56:51.300
america you have to know what this is doing to our national security and yet they're doing it so i
01:56:56.180
mean it's shocking but in a way it's not very shocking that they would concede something like
01:57:00.820
that and say yeah you could force uh iranian republican guard yeah they're not so bad maybe
01:57:06.420
we should take them off to a terrorist watch list now congressman chris stewart thank you so much sir
01:57:11.700
god bless good to be with you thank you you bet you can follow him at stewart.house.gov uh let me um
01:57:21.300
uh let me uh uh cap this conversation and this week with with this thought i've said it before um
01:57:33.060
earlier this week and uh i want you to listen carefully those who hear these kinds of things
01:57:43.220
um it is vital right now that you do what you have to do
01:57:51.620
to strengthen your relationship to god and hearing what he is telling you to do you are listening to
01:58:02.340
this program right now for a reason and i am receiving mail and everything that i have never seen before in
01:58:11.300
my lifetime i have never seen and met so many people who are like you know i just have this feeling that i'm
01:58:19.700
supposed to do not reject that feeling do not hesitate on that feeling i mean unless it's a feeling of i just
01:58:28.020
feel like i should build a nuclear weapon and launch it um that's not coming from god
01:58:33.300
um but if it is to to protect your family if it is to move not move whatever it is and you always know
01:58:44.660
it's god when it's unreasonable and you're like no no either i can't do that or i really don't want to do
01:58:52.820
that that's a pretty clear signal it's probably from god um do not dismiss those things uh i believe
01:59:01.460
as billy graham told me once the lord is working on something and it is a mosaic and it will be just
01:59:09.780
millions of people all around the world that are just standing doing exactly what they're told to do
01:59:14.980
nothing more nothing less just do what you're what you're feeling you're supposed to do and don't
01:59:23.060
hesitate don't hesitate what if your uh your plan is to come camp out in front of the studios until
01:59:30.020
glenn walks in so you can tell him your wonderful ideas and you know what is crazy is the spirit right
01:59:36.500
now is telling me to kill you and that's unusual because that's what i just said wouldn't be coming
01:59:43.300
from god but i'm willing to roll the dice you are so yes all right here is our uh sponsor it's rough
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this is the glenbeck program hello stanley you're on the glenbeck program
02:01:50.580
hi glen uh really appreciate your program thank you um i i'm so glad to hear you talking about this
02:01:57.380
the inspiration is so important and you cannot avoid listening to it you need to pay attention to
02:02:04.020
when you're inspired and i'm particularly happy you've been talking about this because
02:02:09.940
about three weeks ago i i drove up to texas from columbia and i've been living in your linen closet
02:02:18.900
yes and i'm waiting for you to come in and and i need to tell you about a special message i've
02:02:24.500
received now it didn't sound exactly like god per se but it was loud and it did tell me to bring a lot
02:02:32.980
of sharp objects right uh so if you could just at some point walk into your linen closet uh
02:02:38.900
well ideally backwards uh with a blindfold on stanley the good news is uh this will fail not because
02:02:47.300
you told me but because i have no idea where my linen closet is so thank you you're well you're you
02:02:54.900
are drawing no if there is someone out there who's like i'm going to show up no please no no no that's
02:03:00.900
never a good idea right please please please there are a lot of people uh i mean the the fastest way
02:03:08.580
not to be heard is to drive from canada uh and not make a an appointment uh no it doesn't that doesn't
02:03:15.940
happen no security stuff obviously yeah you can't do that so please don't please don't do that and
02:03:20.500
honestly this is the promptings are for you they're for you and they're things that you need to do um
02:03:30.260
if it's like i've got to get this idea because glenn's got to do it no god has a more efficient way
02:03:36.740
of giving me that information um you know you stand and do what you're supposed to do and connect
02:03:44.580
at a local level you should go to your linen closet though back program really