The Fed Broke Its Promises | Guests: Dr. Simone Gold & Loren Culp | 8⧸3⧸20
Episode Stats
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Summary
Glenn Beck and Steve Breguet discuss the latest in the latest mass shooting crisis in Portland, Oregon, and how to deal with it. Glenn also talks about his wife being quarantined and why he thinks it's a good idea.
Transcript
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Hello, America, and welcome to Monday. It is the Glenn Beck Program. You've lost about 10% of your money here in the last couple of months. The country has, our credit rating has been downgraded yet again. A couple of stories that you're just not going to hear anyplace else, but it's really important that you understand what is going on.
00:00:24.180
I got the latest numbers of the deaths and the shootings. Portland, shockingly, is at an all-time high for murders in this last month. Who would have seen that one coming? Also, schools. CDC says schools have to be open.
00:00:43.940
There is a catastrophe coming if we don't open the schools. And then we go to, I think it's Maryland, where they have decided, yeah, schools can open. I mean, not the private ones, not the parochial schools. You know, but the public schools, yes, they can open.
00:01:06.620
Welcome to Marxism 101. We begin in 60 seconds.
00:01:19.840
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00:02:36.200
Well, let's say hello to Mr. Steve Breguer, otherwise known as still our executive producer.
00:02:52.240
You know, I just found out this weekend that I don't get out of my 14-day quarantine until my wife is better.
00:03:08.980
I actually am advocating you to have a 14-month quarantine.
00:03:18.240
You know, there's a difference when you're doing it yourself and you're like, yeah, it's going to stay home.
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So you, as far as you know, do not have COVID at this time.
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She's a very, you know, healthy person generally.
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But you're not talking about, I mean, we're talking about COVID here.
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Obviously, a lot of people have died from this.
00:04:02.460
That's not what you're, you're not talking about that type of thing.
00:04:04.440
You're talking about just a very bad normal thing.
00:04:09.180
So, you know, because I don't want any disruptions.
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The kid's got to know that it's a stable family and mom is there.
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No, I think a sign of a stable family is daddy is dating while mommy's sick.
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I mean, I'll tell them that if there's a funeral.
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She, it's manifesting itself with real pain for her.
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And, you know, she's just, she's really healthy.
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I mean, we all, everybody's like, dad, you're going to get this.
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You know, the beginning when it first happened, dad, you're going to.
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The whining that's going to be involved, dad, when you get this.
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And I'm, I'm the only one, me and the grandkids, I'm the only one that didn't get it yet.
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And I said, well, you're not supposed to touch your face.
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So I figure if I lick your face, I've got to get it.
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Because I just, if I don't have it yet, I want it so I can move on with my life.
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Although, again, I've had relatives who have had it as well.
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And it's the same thing, same story you're telling me.
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Multiple weeks of not, no, luckily this, you know, the person I'm thinking of didn't die or anything.
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But multiple weeks of every time you get up, you almost pass out.
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You're ridiculously tired just walking across, you know, the room in your house.
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Which is like, you know, really just, I mean, it's debilitating in a short period of time.
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And it really does screw your life up for that period.
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And that's not going to be included as a serious symptom.
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She can't even get up to get me a beer or anything.
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You know, I'm like, okay, when is this going to end?
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I wouldn't be surprised if she's rooting for the end, honestly, after living with you.
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That's the only reason why I can say any of this.
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But it's, you know, it's been a schlog for her.
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She should have used this as an excuse to just disappear.
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We went, you know, went to go to grocery shopping.
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And she, I said, your mom loves my sense of humor.
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And she's like, no, dad, I don't think she does.
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So I want you to understand how your money works.
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When they print money, your money is worth less.
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Right now, so far in the last few weeks, your money now is worth 10% less.
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So while it still says you have $100 in the bank, you have $90 of buying power compared to what you had just a few weeks ago.
00:08:49.520
I mean, if deflation happens and everything becomes really cheap, well, then you don't need all $100.
00:09:09.540
Now, if you remember right, Stu, what is the one thing the Fed will never do?
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They will never, ever, no matter what, in no circumstance.
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How much of our debt has been financed in the last couple of months by the Fed?
00:09:32.980
Well, I would assume the answer to that is $0, because they will never, ever, ever do it.
00:09:42.460
It is 100% of our debt now has been purchased by the Fed.
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Now, the other thing the Fed will never, ever, ever, ever do is print money.
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Now, Stu, how do we know that they'll never do this?
00:10:01.160
Well, mostly because they don't really print that much money anymore.
00:10:09.100
I mean, they keep saying these things, and they keep promising these things, and they're
00:10:14.380
But then the opposite of those things seems to happen.
00:10:18.400
So 10 years ago, everyone told me I was insane.
00:10:24.620
And I was also told that the United States will never, ever, ever be downgraded with its
00:10:34.480
You know, about nine years ago, we were downgraded.
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Now, another company has just downgraded not our actual credit rating, but our outlook, which
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The credit rating from Fitch left the United States AAA credit untouched, but downgraded
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its outlook on what is effectively the national credit score, suggesting the country's status
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as one of the world's most trustworthy borrowers could be put at risk by enormous deficits of
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the federal government, because we're running a deficit, I think it's a $3 trillion in the
00:11:34.300
So the Fed has been buying all of this and that they've done is they have, they have decided
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to say that we're not quite so reliable on our credit rating and that things could get
00:11:53.880
treacherous for anybody who is, you know, wanting to invest in the United States.
00:12:00.040
That with your dollar falling will lead you to this gold open the week with a surge to a record
00:12:08.340
before retreating to a trade little changed as blah, blah, blah, blah, blah, spot gold surged
00:12:13.480
11% last month, the biggest monthly gain since 2012.
00:12:23.120
I told you 15 years ago, we get to three to $5,000 an ounce and the entire world is on
00:12:33.300
They're now saying, I think it was Goldman Sachs came out and said $2,500 is what they're
00:12:38.820
projecting over the next 12 months for the price of gold.
00:12:55.140
The concept of public Wi-Fi was science fiction when I was growing up.
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Retail rents across New York City and other cities are beginning to plummet.
00:14:48.040
This is just all going to dogpile one right after another.
00:14:52.760
The banks may be making money now, but the banks are not going to be making money very,
00:14:59.560
very soon because they're going to have all of these mortgages that are defaulting on them.
00:15:05.040
That's when they're going to have to have some sort of a banking holiday.
00:15:09.800
And of course, your money, please have if you have it, if you have it, try to have at least
00:15:18.040
a week's worth of cash in your house so you have the cash in case there's a banking crisis.
00:15:26.700
A month's worth would be would be better, but you got to stay safe.
00:15:30.720
And but please, please watch where your money is.
00:15:36.180
The FDIC is going to, of course, if there is a banking crash, they will, of course, you know,
00:15:45.920
But what the heck does that even mean when they're printing all of that money?
00:15:54.000
Meanwhile, we have 33 people shot, nine killed in Chicago over the weekend.
00:15:59.500
Shootings in New York City this year have topped 777.
00:16:13.160
A Cuban business owner in Louisville decries BLM protesters, says that they are mafia tactics.
00:16:29.120
He is saying what we are getting letters now from protesters that include a list of demands
00:16:35.680
to improve diversity in the community and in the workplace.
00:16:38.440
The letter was delivered by protesters, I mean, by protesters who told Martinez to put it on the front door
00:16:48.800
He writes, there comes a time in life where you have to make a stand and you really have to prove your convictions
00:17:10.200
Now, in Montgomery County, casting aside the standards of the Center of Disease Control
00:17:15.800
and Maryland health officials, county executive Mark Ehrlich and his health officer
00:17:20.100
on Friday announced that they would bar non-public schools from opening in the fall for in-person instruction.
00:17:33.700
Saturday, Republican Governor Harry Hogan publicly expressed his disagreement with the decision.
00:17:41.380
County officials privately tried to convince Hogan that the non-public schools were fine
00:17:51.820
The co-founder and executive director of the Feynman School said,
00:17:57.020
We're trying hard to make a plan this year to keep everybody safe.
00:18:12.360
Oh, I bet this has nothing to do with the communist Marxist demands of the labor unions
00:18:19.620
that are demanding that all private schools be closed,
00:18:24.300
that there's a moratorium on all private schools
00:18:28.200
and the money be transferred to the public schools.
00:18:32.540
I don't think it has anything to do with that, do you?
00:18:40.000
has said that they're still going to keep the churches closed.
00:18:45.340
His restrictions require all churches to suspend singing during the services
00:18:56.200
In a Sunday sermon, the pastor said, John MacArthur said,
00:19:13.480
In about a half an hour, I'm going to introduce you to a 70-year-old woman.
00:19:19.600
A 70-year-old woman who started her own business,
00:19:25.540
was trying to abide by everything that the governor said.
00:19:37.860
We're going to tell you that story and hear from her.
00:19:50.740
Meanwhile, New York Supreme Court last week granted a motion
00:19:57.800
to turn over the name, zip codes, and license category of anyone
00:20:20.320
that they should have access to the information
00:20:39.640
And our credit rating is never, ever going to be decreased.
00:20:45.960
And the American economy is stronger than it's ever been.
00:20:49.660
We're not going to see some sort of a crazy depression.
00:21:05.700
It's almost like you could have seen all this coming
00:21:09.920
Is there something keeping you from doing the things
00:21:56.160
It's worked for hundreds and hundreds and hundreds
00:24:32.760
I'm sure Tanya's going to love this discussion.
00:25:02.020
but if they played somebody outside of the conference,
00:25:03.840
they'd be completely infected with the disease.
00:25:33.840
And I think the Pac-12 can deliver on all these things.
00:25:42.600
and they include health and safety precautions.
00:26:08.860
I don't know how much is okay for them to make.
00:26:29.920
would be distributed evenly among the athletes.
00:26:32.940
So they can receive millions and excessive salaries,
00:26:40.480
And this is part of the systemic racism, I assume.
00:26:53.940
and the other is being paid to coach or to teach, right?
00:26:58.220
I mean, I just want to make sure I have the system down.
00:27:03.280
Well, but the athletes don't, of course, pay to go there.
00:27:19.660
And there's one more little thing that they want,
00:27:21.780
and that's an end to racial injustice in sports and society.
00:27:28.720
Now, I think the Pac-12 has been withholding their ability
00:27:32.740
to end racial injustice in society, and I'm pissed about it.
00:27:36.920
Well, now, finally, somebody has just asked for it.
00:27:42.680
You know, it's been up on that shelf the whole time,
00:27:45.700
and it's like, oh, thank God, somebody finally asked.
00:27:51.420
Now, Pat, I know you're not necessarily a representative
00:27:56.740
But if you could kind of put your negotiating hat on
00:28:16.340
maybe in a different part of the economy completely.
00:28:38.760
Well, no, it has to be cleaned out in those societies.
00:28:41.220
Like in Los Angeles, where USC and UCLA reside,
00:28:44.380
it has to be completely eliminated from Los Angeles.
00:28:46.860
But you're saying it would be okay, let's say, in Vermont.
00:28:57.460
But it's okay to have it in society in some places in Vermont.
00:29:18.400
But I could compromise in just the Pac-12 conference schools, though.
00:29:22.480
If you're just in those cities and those states,
00:29:26.880
we could come to some sort of arrangement there.
00:29:31.120
what if they just come up with the profit sharing thing
00:29:34.020
and equally distribute the conference's wealth among the athletes?
00:29:42.520
I'm going to take a wild stab at this one and say yes.
00:29:51.000
would you say they preferred the distribution of the wealth
00:29:54.700
over the getting rid of racism throughout society?
00:30:06.600
Is ending racial injustice in sports and society,
00:30:12.500
I don't think they should play until the Pac-12 conference
00:30:17.900
Why would you play if those two things are going on?
00:30:27.880
Because our education system is pretty piss poor right now.
00:30:46.040
And when you're talking about getting rid of all of racial injustice
00:30:48.540
throughout, I would assume all universities would have to get rid of this.
00:30:58.420
Well, if it's in society, I'd say that's international.
00:31:05.300
they have to get rid of all races need to be treated equally, right,
00:31:09.820
So do we need to get rid of affirmative action programs?
00:31:36.900
Yeah, like a summer camp, except it lasts your whole life.
00:31:40.260
Or at least until you come around with the right attitude.
00:31:57.460
No, you still make bracelets and license plates and things,
00:32:22.560
that we don't understand why the National Hockey League
00:32:44.940
that they're going to make all those seasons up?
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You can't have a funeral for your stupid loved one.
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