00:03:47.240Because Donald Trump made some pretty heavy promises.
00:03:50.140And now, I don't know about you, but I hate to remind everybody that the president loves when I remind him and everybody else about how I was not for President Trump the first time around.
00:04:02.960I wasn't in 2016 because I didn't believe a word he was saying.
00:04:06.600I'm like, there's no way he's going to do any of that stuff.
00:21:19.060Yeah. And her background is interesting, to say the least. She's a former USAID member.
00:21:25.820She's a retired U.S. diplomat with roughly 20 years at USAID.
00:21:32.440She's been an advocate of democratic transition, governance, and peace building, quote unquote, in places like Georgia, Uganda, and South Sudan.
00:21:49.300So I'm laughing, but I mean, you can imagine these are the kinds of people that are partnering with radical groups talking about doing, I don't know if you're going to play this later, but extra constitutional type things, talking about a meltdown scenario.
00:22:01.220So they are planning on if the Democrats win the House and the Senate, they are planning on going after and creating a meltdown situation to where the president has to act.
00:22:16.120and this all goes into the color revolution.
00:22:19.360This is how color revolutions are done
00:22:21.060and she should know you're part of USAID.
00:22:24.600That's part of their main thing they did.
00:22:27.160We'll talk about this more in a minute.
00:22:29.180First, let me tell you about Mercury One.
00:22:31.360There is a question I've asked myself a ton.
00:22:34.880What are we going to leave behind when we leave?
00:22:37.220Not just for our children or our grandchildren,0.97
00:22:41.020but for people who haven't even been born yet.
00:22:45.380What will they understand about the things we believe, the things we fought for, the people we tried to help?
00:22:51.560That's a big part of why Mercury One exists.
00:22:53.980For 15 years, you've helped us build one of the most incredible organizations.
00:22:58.560We tackle things that are considered impossible.
00:23:02.220You've helped families recover from disasters.
00:23:04.420You've helped rescue people facing persecution and death in the Middle East.
00:23:08.760We have moved, I've got to get the actual number, but it's between 50,000 and 100,000 people.
00:23:13.860We have moved into safety and saved their lives because of you.
00:23:18.840Now we have a new home in Irving, Texas, where we can build something to carry our mission forward for generations with a brand new museum.
00:23:26.340This Saturday, we are going to be having our annual fundraiser.
00:33:31.920And inside was a pastor named Brian Johnson.
00:33:35.500And for three days, the two of them talked.
00:33:39.840The pastor and the guy who memorized the Quran at 13.
00:33:44.080And the pastor who had never seen him before, they talked about sin, they talked about life, they talked about salvation, they talked about who Jesus is.0.50
00:33:52.500The pastor even started with the places in the Koran that called Jesus the Word of God because he knew Ahmed was already grounded in that.
00:34:01.740Well, Ahmed didn't want to read the Bible.
00:44:19.200The fusion of entertainment, enlightenment and empowerment
00:44:27.720this is the glenn beck program hello america welcome to the glenn beck program there is a
00:44:37.620lot going on today that we need to talk about but i want to take a break because i mentioned
00:44:41.400something last hour the bubba effect and what is happening now in england and uh a lot of people
00:44:47.680in this audience who have listened to me for a long time are like glenn i don't understand now
00:44:51.300your problem with the Bubba effect. Isn't that the way we were founded on? No, it's not. And
00:44:57.700it's a subtle difference, but it's a big difference. And I'll, I'll, I'll explain here
00:45:01.780coming up in just a second. Uh, also let me tell you about friend factor. You know, our dogs,
00:45:08.200I got to tell you, I, I miss my dogs. I miss my dogs so much. I was talking to somebody the other
00:45:15.440day and they brought up a Uno. And I mean, I got to tell you, it's been almost a year, probably a
00:45:20.740year, and I still get teary-eyed thinking about him. I miss him so much, and if there was anything
00:45:26.020I could have done to help him live longer or happier or healthier, I would have, and we did.
00:45:31.620I mean, man, we did a lot for Uno, but, you know, their time comes, and unfortunately, their life is
00:45:37.000a lot shorter than ours, but there is something that you can help ease your dog's, you know, pain
00:45:44.000if they are starting to get old, and they're losing joint function, you know, they're just
00:45:48.820not as mobile as they can. It killed me when Uno couldn't go up the stairs or jump into the back
00:45:53.500of the truck. Your dog has always been a high-energy athlete, and some of them, yes,
00:46:00.200become a professional couch potato. However, they are remarkable, and they're our best friends.
00:46:06.860Give your dog, the first bag, a friend factor today. This is something that helps ease their
00:46:12.500pain eases their mobility keeps the inflation down inflation um inflammation down in their body
00:46:18.660that's in case you have a federal reserve dog uh get your first bag of friend factor today it's
00:46:24.1601995 at relieffactor.com that's relieffactor.com all right so let me tell you about a story that
00:46:33.520i have that i just shared with you about half an hour ago and it is on the bubba effect now if you
00:46:41.420don't know what the Bubba effect is, the Bubba effect comes when there is absolutely no credibility
00:46:52.080left in a government because the government has failed to enforce the laws and disorder persists.
00:47:04.040Now that can be with terrorism, that can be at the border, that can be the crime that you see in your streets, that can be, honestly, that can be corruption at the highest levels and the people just keep getting away with it.
00:47:21.600And the voter, the average voter says, this has got to stop. And so the public trust completely collapses. And then the public says, well, I got to do something about this.
00:47:35.040And when somebody does something about this, the government acts.
00:47:41.460And the government's like, no, we have to stop this.
00:47:43.820And that's when the people who no longer trust the government say, well, wait a minute, wait a minute, wait a minute.
00:47:49.660Yeah, I know Bubba was wrong for what he just did.
00:53:52.300Now, this changes everything because now it's a moral inversion.
00:54:00.340Because the public realizes what Bubba did is wrong, but the answer to that is, well, why is it they can't stop the people coming in from the boats, but they can sure get that guy?
00:54:16.060And so it begins to muddy the moral laws.
00:54:22.300Because you support Bubba, even though you're saying, yes, he's breaking the law as well, which leads to who has the ultimate authority here?
00:54:35.320If the government won't do it, then we will.
00:57:08.920But the minute we stop, the minute we ignore our Constitution, the minute we ignore the things and set up the things and do the right thing, and the right thing, look, self-defense is always the right thing.
01:08:24.260His program had an estimated 6.5 million listeners at the time, but that warning began to spread
01:08:30.480like wildfire through the Christian community. It got as far as Richmond's first Baptist church,
01:08:37.020and the next time I mentioned the word justice from the pulpit, I was confronted by a well-meaning
01:08:43.040deacon who said, you've got to be careful about using that word. Why? I said, well, he answered,
01:08:50.800we don't want people to leave the church no no we don't but with whatever respect is due
01:09:01.300mr beck we also don't want a radio talk show host to keep us from using a word that shows up over a
01:09:08.620thousand times in the bible and perhaps most memorably in today's call to worship from micah
01:09:15.620chapter 6, where an earnest worshiper asked, with what shall I come before the Lord and bow myself
01:09:22.580before God on high? Shall I come before him with burnt offerings, with calves a year old? Will the
01:09:29.100Lord be pleased with thousands of rams, with ten thousands of rivers of oil? Shall I give my
01:09:35.680firstborn for my transgression, the fruit of my body, for the sin of my soul? The prophet replies,
01:09:43.220He has told you, O mortal, what is good, and what does the Lord require of you but to do justice, and to love mercy, and to walk humbly with your God.
01:17:34.560When you're constitutional, it doesn't mean you're for a constitution.
01:17:37.160It means you're for the United States Constitution.
01:17:41.180So what they're saying and showing in this meeting with data and what the Washington Post,
01:17:46.720and this should not come as a surprise to you if you watched our special just a couple of weeks ago,
01:17:50.960Um, this is a global operation to unseat the constitutionally elected, uh, people in our country to unseat them, overthrow and put in a new constitution with a unicameral Congress that has, does not have the two houses and the president is selected by the, the Congress, the new Congress.
01:18:18.400Okay? That's their goal. Now, how do they get there? Well, if you understand color revolutions, you understand that the only way a color revolution works is if you have planted the seeds of distrust, of hatred between two sides, and then you constantly say that the person in power is a dictator, is a fascist.
01:18:43.900If you can convince enough people that that person is a fascist, then you have the power on the street and you have enough people in power.
01:18:53.300This is why they need the House and the Senate to be able to do this, or at least the House, and maybe they can get away with some of it.
01:19:00.300And if they have both the House and the Senate and then they have the dictator in the White House, they have all the tools they need to be able to, when the president is positioned in a way to where you've got riots in the streets everywhere, like France, what's the president supposed to do?
01:19:23.620He's going to call out the National Guard. But these people have already talked to all of the states and they've already said, look, if he does this, this is what, what are you going to do? We recommend this because just like they said last time and the time before that, he's going to do these things. And so you need to be prepared to do this and say that's unconstitutional.
01:19:48.040So the president would send out the National Guard to quell an uprising.
01:19:51.940They will call that unconstitutional, and they'll say, see, it's evidence of fascism, which will just add fuel to the fire.0.62
01:19:58.860It is exactly what is happening in France.
01:20:01.240Now, that hasn't happened yet in France.
01:20:04.140They're just at the beginning of the burning down of everything.
01:20:08.920that's going to continue as they get closer and closer to the election
01:20:13.280because they are already saying Marine Le Pen is a fascist.
01:20:18.820Why? Because she said, we will have rule of law.0.98
01:20:22.760Now, I don't know about you, but I'm for rule of law.
01:20:35.740If you're not a citizen, you don't vote.
01:20:37.620But I don't care if I lose if that's the system.
01:20:45.700This is a setup that is happening right now.
01:20:48.740And this is why we have to be really well aware and understand they are going to do everything they can to push every button inside of you.
01:20:58.980They're going to try to get you angry any possible way.
01:22:06.760Their gutter protection system uses precision-engineered stainless steel micro-mesh screens that allow rainwater to flow into your gutters while keeping the leaves and the pine needles and other debris out.
01:25:29.680Do we do we punish them or do we let it slide and then set that example for Italy and Spain and everybody else that is going through the same problems?
01:25:41.260What does all of this mean for you at your dinner table?
01:30:18.600Because I thought they were out of time.
01:30:21.480Well, you know, politicians are never out of time until you vote them out of office.
01:30:26.860And obviously, they would never want to do the right thing, because it often conflicts with them having some accountability. They don't want to have accountability, they want to kick that accountability down the road. But what we're seeing in in France is, you know, the non economic version of this is weak men create hard times.
01:30:47.380The economic version is too much government creates too much debt, creates hard times, and then they're not willing to do anything until everything collapses.
01:30:57.140So I saw an amazing stat, maybe you can tell me if this is true, that more than half of the population of France gets their income from the government.
01:31:09.960Yeah, this is exactly the problem that France, which by the way, is a meaningful economy in the EU.
01:31:17.220It's the second largest. It's $3.5 trillion, which sounds like nothing to us, right? It's
01:31:22.320like 10% of our size. But when you compare it to Greece, that's like $300 billion. So within
01:31:27.320the Eurozone, they're very important. But the breakdown of what's happened there is that they
01:31:32.680have too little capitalism. And they do have some great companies, right? They've got the luxury
01:32:58.280So even with everybody working for the government, it's about 8.3 to 8.4 percent for the year.
01:33:03.820And then they still have the same problems that we do, like debt to GDP of 120% and deficits running like 5.5% of GDP. The problem is they're not the world's reserve currency and the world's trading currency. So it hits them harder. And they have all of these demographics. They have an aging population with bigger pensions and all of these big issues.
01:33:29.460the aging population drives more healthcare spending and whatnot. So they're in kind of
01:33:34.120the same familiar spot that we're in, but they don't have all of the benefits that we have as
01:33:40.880well. So Rob Snyder tweeted something. I want to read it to you. France has free healthcare,
01:33:47.260paid parental leave, paid family leave, free childcare, free preschool, five weeks paid
01:33:54.580vacation 35-hour work week generous unemployment and housing benefits heavily subsidized higher0.86
01:34:01.400education everything the left says they want and they're still protesting and burning crap down
01:34:07.020yes i mean it's how do you get out of that because the ecb the european central bank said
01:34:15.200they have to cut their spending or uh they're in trouble they'll they'll start imposing cuts
01:34:22.560on them well if you can't cut two percent out of your budget uh what without people rioting in the
01:34:32.080streets and rioting for even more how how do you save that country yeah i mean it's a really big
01:34:39.760issue you know i referenced greece earlier you know greece had the economic issues you know back
01:34:44.900in 2010 2011 and they were able to stem that because it was a smaller country it wasn't as
01:34:52.540sort of important to the EU. Not to say it's not important, but not as important as France is at
01:34:58.260$3.5 trillion now of GDP. So you would need to have their central bank, which is the ECB,
01:35:05.460get involved if there is some sort of a contagion. And a contagion is likely because the analogy is
01:35:13.140imagine the Eurozone is an office building and the second biggest tenant is in financial trouble,
01:35:19.480where you're an investor. Now, all of a sudden, the entire office building project is in financial
01:35:25.000trouble. So that's the same issue with the EU. The problem, as you mentioned, is with the ECB,
01:35:30.980if they do a bailout, which we know is printing money and stoking inflation,
01:35:36.180they require austerity. They require budget cuts. And as we have seen, whether or not you want to
01:35:43.980say these particular riots were related to financial or some other issue. But we do know
01:35:50.140in the past that anytime there has been talk of a little bit of austerity, there has been
01:35:55.860riots and destruction. And, you know, referencing Rob's post, they have everything. You have the
01:36:03.220government, you know, spending, you know, the majority of the money of the GDP on these programs,
01:36:09.620and they're still not happy there is no saving this it's just a question of when the whole thing
01:36:16.140implodes so the scary thing is correct me if i'm wrong italy is worse than france i think they're
01:36:23.020number one in debt or is it greece is now greece is number one in debt i thought greece was taken
01:36:28.600care of but apparently that was just a band-aid so greece is still bad spain is bad italy is bad
01:36:35.720how long does this go on you know i'm going to say something shocking to you glenn but the u.s
01:36:44.280is bad the u.s has 123 percent of debt to gdp and is running you know close to six percent deficits
01:36:52.540to gdp still it is spending a trillion dollars a year on interest in servicing the debt and there's0.97
01:36:58.560no um you know no hope for fixing that and you have all of these dsa people running on these
01:37:04.980same platforms that we're talking about now about, hey, let's find a way to increase government
01:37:09.520spending. So, I mean, part of, you know, what may or may not give you comfort is that everybody,
01:37:15.820you know, around the world is in the same position. We have more strengths because we
01:37:20.840have deeper financial markets. What does that mean, Carol? I mean, we, yes, we're all in the
01:37:25.500same. So do we all just back away and say, okay, all right, we're just going to call it all even.
01:37:49.120I've been talking about writing books about this.
01:37:51.380So there is a very likely financial reset.
01:37:55.140It's a question, I think, of when, not if.
01:37:58.560And then we're going to find a way, you know, whether it's making gold play a bigger role in the economy so that the reset isn't so obvious or finding other ways to inflate away the debt.
01:38:12.860There's going to be a scenario and a lot of people are going to be hurt in this scenario because, as we know, there's no free lunch.
01:38:20.600We can't just call a mulligan, a do over without there being consequences.
01:38:26.400And that's going to end up hurting people all over the world.
01:38:30.300And as we know, when these things happen, it's not just France that could have unrest.
01:38:36.180It could spread to other places very easily.
01:38:39.300And then, you know, that could end up impacting bigger issues.
01:38:43.780It could end up creating issues that impact the food supply or energy or other things.
01:38:48.200And it just becomes a, you know, sort of a vicious cycle.
01:38:51.480So when you said maybe gold plays a higher role, I mean, even if gold was at $10,000 an ounce, that's still what we have, what, $3 or $4 trillion?
01:39:21.140So what's the most likely and what does that look like?
01:39:25.480I mean, I personally think if you look at the banks that have been stockpiling gold and if you look at some of the stockpiles, you know, Europe actually is doing very well when it comes to gold holdings, including Italy.
01:39:39.820which, you know, had a former ECB director as its president that said, we love gold and,
01:39:47.060you know, we're never getting rid of it. I think that it will end up being, you know, one of, if
01:39:53.860not, you know, a key reserve currency. You may see some trade and settlement done in gold. Like
01:40:01.520you said, the price of gold will have to be allowed to go significantly upward to sort of
01:40:08.320rebalance everything out. And what will probably happen is that the different countries will get
01:40:14.920together as they've done many times in the past and create some sort of an accordant agreement.
01:40:20.720And this is how, you know, this is going to work. And here's, you know, who's going to be in charge
01:40:25.140of what the exact path of that could take. You know, we can have a choose your own adventure
01:40:30.840book and have, you know, 20 different lanes, but there will probably have to be a sit down.
01:40:35.480The other option, which we certainly hope doesn't happen, is war, because a lot of times when we have these financial resets, you know, every time we have a war, we don't have a financial reset.
01:40:47.240But every time we've had a major financial reset, not just a, you know, a court, war has been the catalyst.
01:40:53.820And then it's like, oh, OK, well, now we've got a new regime.
01:40:56.640So hopefully, you know, if you're picking a door, let's make a deal that you're picking door number one and you're getting a sit down and they're letting, you know, gold float to an appropriate price and you're doing something to try to get everything under control.
01:41:10.880The challenge is, though, without people facing the consequences and without getting the muck out of the system, it's just a bandaid, right?
01:41:21.120If you don't fix the underlying problem, which is the too much government spending, the big government debt piles, you just end up in the same place in a very short period of time.
01:41:33.500And especially at the levels we're at now with compounding, that's just going to grow and grow more quickly.
01:41:40.880So, you know, you can let you can come up with all of these small fixes that we pay the price for on a short term basis.
01:41:49.260But without fixing the underlying problem, nothing changes.
01:41:53.420And in my opinion, Glenn, without some sort of accountability, I don't know what the incentive is for the politicians to fix the problem.
01:42:01.280OK, so I'm going to take a one minute break. I want you to just pick it up there.
01:42:04.880What does that look like? Accountability for who? What does it look like?
01:42:24.640When we come back more with Carol Roth, get her a free newsletter at carolroth.com.
01:42:28.780If you're not reading Carol's work, you're really missing out on understanding the world, especially the world of finances.
01:42:34.600Now, living long enough, you will see that the world forgets that you spent your entire life hoping that it would remember the things that are important.
01:42:52.180But the reality is that we forget things over and over and over again.
01:42:56.720And elderly Jewish people of today, they've lived long enough, and they were hoping that the world would remember and not forget.
01:44:18.320So what does it mean, real accountability?
01:44:22.300So real accountability would mean that there are consequences when people take actions.
01:44:28.080I actually wrote a piece about this a few weeks ago, that if you think about boards of directors or you think about trusts, people who have to manage on behalf of other people, there is a legal fiduciary responsibility that is upheld by the courts that you have to put the people who you are representing's interests ahead of your own.
01:44:54.700And if you don't, you are taken to court.
01:44:57.500So why is it, Glenn, that if you have a publicly traded company and you have a board member or a set of board members that does not pursue their fiduciary duty, they're conflicted, that they don't act in the best interest in who they represent, or you have a trust where the trustee doesn't, why is it that the United States government, the people who represent us in Congress, do not have a fiduciary duty?
01:45:23.840And do not tell me about an oath of office, because that is not something that is upheld
01:45:29.560in court and has any corresponding responsibility.
01:45:33.440So I am certainly not a lawyer, and I don't know how you get that instated without the
01:45:38.440people who are creating the roadblocks blocking it.
01:45:42.360But the reality is, it just fundamentally makes no sense that you have the people who
01:45:48.240represent others on a private level in fiduciary matters and financial matters have this
01:45:53.740fiduciary duty and our Congress doesn't. If we had any level of accountability or even just some
01:46:00.740guardrails like, hey, if you don't balance the budget, then you are ineligible to ever be in
01:46:07.100Congress again. Things like that, where they actually have to think about what it is they're
01:46:13.220doing other than how can I turn this around and lie about this and do something or not do something
01:46:21.340just so that I can get reelected and retain power?
01:46:24.780You know, that is the $41 trillion and growing question.
01:46:29.720Yeah, I would love to see their salary
01:46:32.160based on what the average salary is doing
01:46:50.780You know, I would love to see some conversation, at least, of accountability.
01:46:56.540When you said that maybe gold goes up, gold goes up to what?
01:47:01.220And does anyone, I mean, does anyone participate in that?
01:47:05.640Or do the federal governments and central banks just claim gold is theirs again?
01:47:11.060You know, I think that we live, let's put it this way.
01:47:14.540There's a think and there's a possibility.
01:47:18.300I think we live in a world right now with social media, with the ability to cause unrest, that if for some reason they tried to confiscate gold again, I think it would be very difficult.
01:47:34.000Now, to be fair, I also said I thought it would be very difficult to lock down the United States.
01:47:39.920But the people who did not comply are not going to comply.
01:47:45.040I'm not telling you to break the law if that does happen.
01:47:48.060And I'm just saying my guess is that the people who didn't comply aren't going to turn over the gold.
01:47:53.200So when you have, you know, the gold that we have, and it's only really worth $3 trillion if you inflate the price of gold up to $10,000, how much would the price of gold have to be to be able to solve these kinds of problems?
01:48:06.480The estimate is 40, and I'm not saying that I think it's going to necessarily go there.
01:48:12.500I think that 10 is a much more likely number in at least the next five to 10 years than 40.
01:48:19.360And by the way, this is not financial advice or financial prediction.
01:50:39.420This is a, you know, not going to, and so he published, he didn't publish it.
01:50:43.020He, he made a Xerox copy of it, if I remember the story right, and he gave it to a friend and that friend copied it and gave it to another friend.
01:50:50.180And all of a sudden, it was spreading everywhere, and people were coming into the bookstores going, hey, can I get a copy of the Christmas box?
01:50:58.880And they were like, I don't even know what you're talking about.
01:51:01.160And so the word got all the way up to New York, and Simon & Schuster were like, what is this Christmas box thing?
01:51:06.760And Simon & Schuster approached him and was like, we'd like to publish, and it sold millions and millions of copies.
01:51:11.520And he took a lot of that money and just started a children's charity.
01:51:16.700And he's now working on his 49th novel, just released.
01:51:22.580I think it's his first based on a true story.
01:51:26.820And if you love history, this one is a great, great story on history and has everybody.
01:51:33.380I mean, has everybody in it, from Emerson to P.T. Barnum and everybody else.
02:05:49.660One of the best capitalists I've ever seen, and then what he does with the wealth that he makes and how he treats his employees globally, I mean, thousands and thousands of employees, is remarkable to me.
02:06:06.420And he calls it, I think, gracious capitalism.