Glenn Beck joins me to talk about the new season of the NBA, mandatory vaccines, and why the media loves it when athletes speak out on social issues like Black Lives Matter and police brutality. But when it comes to athletes who don t support mandatory vaccines or who don't even want to get one themselves, the woke media scolds are much more interested in the Laura Ingram, shut up and dribble camp.
00:01:12.100He's, of course, the host of the Glenn Beck program on Blaze TV and our lead in here.
00:01:17.020If you're listening on Sirius XM Triumph Channel 111, he's coming up in one minute.
00:01:20.960But first, we're going to talk sports, something I rarely do.
00:01:24.860And the reason we're talking sports is because the NBA returns this month.
00:01:28.140And with it comes the return of the athletes with more social capital than in any other sport in the world.
00:01:35.100NBA players have tremendous cultural power and they exert it, as we saw when they immersed themselves in the so-called social justice movement over the past year or two.
00:01:45.100So this activism has been celebrated as player empowerment by a media desperate to prove its woke credentials on subjects like racial justice.
00:01:55.780Journalists castigate those who point out that this divisive messaging by players and coaches on issues like BLM and defunding the police is making half the country dislike these players, not to mention hurting the ratings.
00:02:08.800But the journalists say, shut up, shut up.
00:02:15.100And it's really cost the NBA in terms of its ratings.
00:02:17.840The nonstop lecturing can turn off even casual fans who just want to watch a basketball game and not get lectured to on social mores by a bunch of guys whose league has not exactly been a leader when it comes to obeying the law, treating women respectfully.
00:02:59.260No, you see, when it comes to athletes who don't support mandatory vaccines or who don't even want to get the vaccine themselves, these woke media scolds are much more in the Laura Ingram shut up and dribble camp.
00:03:14.240You see, in 2021, the only socially acceptable COVID vaccine position is every good person must do as Dr. Science, I mean Fauci, instructs and get one and then tell others to get one, too.
00:03:29.100There is a serious lack of vaccine rationalists in the corporate media whose official position is you either believe everyone must get a vaccine or you're a dangerous anti-vaxxer.
00:03:40.860There's no middle ground, no nuance, no middle ground, no nuance, and no one is allowed to care about anyone's particular medical history.
00:04:15.220And I loathe the dishonest media scolds who deem you a bad person for not wanting the vaccine while they're out partying in bars all night, allegedly rubbing their hands on their genitals and then shoving them all over strangers' faces.
00:04:31.200And now the COVID vaccine zealots have turned their sights on the very NBA players whose voices they had deemed so important back when they were bashing cops.
00:04:42.660Is it because murder rates are now at record highs in America's major cities?
00:05:48.340And so our understanding of antibodies, of natural immunity has changed a great deal from the onset of the pandemic and is still evolving.
00:05:57.480I understand that the vaccine would help if you catch COVID and you'll be able to have less symptoms from contracting it.
00:06:07.360But with me having COVID in the past and having antibodies with my current age group and fitness, physical fitness level, it's not necessarily a fear of mine.
00:06:17.520And taking the vaccine, like I said, it would decrease my chances of having a severe reaction, but it does open me up to the, albeit rare chance, but the possibility of having an adverse reaction to the vaccine itself.
00:06:32.940I don't believe that being unvaccinated means infected or being vaccinated means uninfected.
00:06:40.860You can still catch COVID with or with not having the vaccine.
00:06:44.440It should just be their decision and, you know, loving your neighbors, not just loving those that agree with you or look like you or move in the same way that you do.
00:06:53.260It's, you know, loving those who don't.
00:07:03.980We've heard this from nurses who are about to get fired and school teachers who are about to get fired who have had COVID and don't want to have the vaccine forced on them.
00:07:11.660But this logical point of view is not allowed.
00:07:15.980Rolling Stone, the once respectable magazine, published a piece headlined, the NBA's anti-vaxxers are trying to push around the league and it's working.
00:07:29.720Not wanting to get the vaccine once you've had COVID does not make you an anti-vaxxer.
00:07:33.920Isaac, who already drew the media's ire a couple of seasons ago for being one of the few players to refuse to take a knee in support of Black Lives Matter, his first sin, is described as, quote, deeply religious and proudly unvaccinated, more sins, and is said to have come to his vaccine decision after, quote, studying Black history and, wait for it, watching Donald Trump's press conferences, his worst sin of all.
00:08:00.100That was it. That's when he lost the media.
00:08:04.060But Isaac maintains he's not anti-vax.
00:08:07.540I'm not anti-vax. I'm not anti-medicine. I'm not anti-science.
00:08:12.620I didn't come to my current vaccination status by studying Black history or watching Donald Trump press conferences.
00:08:19.020I have nothing but the utmost respect for every health care worker and person in Orlando and all across the world that have worked tirelessly to keep us safe.
00:08:28.020My mom has worked in health care for a really long time.
00:08:31.520I thank God I'm grateful that I live in a society where vaccines are possible and we can protect ourselves and have the means to protect ourselves in the first place.
00:08:41.840But with that being said, it is my belief that the vaccine status of every person should be their own choice and completely up to them without bullying, without being pressured or without being forced into doing so.
00:08:55.120So he didn't. He didn't. Right. He came to his decision on his own.
00:09:00.380He did his own research and that's not OK.
00:09:02.980And the response to players like Isaac, who are calmly, rationally, convincingly making their case, is it shut up and listen to them.
00:09:10.420As we were told when a black man spoke during the Black Lives Matter protests back in 2020.
00:09:16.220No, no, they no longer want us to listen.
00:09:20.360Will Leach of New York magazine has has the perfect response.
00:09:23.820Players who aren't vaccinated explaining their decision shows, quote, the downside of player empowerment.
00:09:31.520Again, shut up and dribble, guys. Shut up and dribble, says Will.
00:09:35.180Chris Eliza of CNN writes that unfortunately, several elite NBA players used their return to camp to voice their deeply uninformed views on the COVID-19 vaccination.
00:09:48.000Did Isaac seem deeply uninformed to you?
00:09:59.140Can't wait for the articles, by the way, about how Eliza is bullying these players.
00:10:03.720Eliza is the same guy who tore into Donald Trump for challenging Dr.
00:10:07.260Fauci's narrative that COVID-19 began in nature, absolutely in nature and definitely not in a lab in Wuhan, China.
00:10:14.700So Eliza at the time chastised then President Trump, writing, quote,
00:10:17.740Only one of these two people is a world-renowned infectious disease expert, and it's not Donald Trump.
00:10:24.180Of course, the former heads of the FDA and the CDC both now say the lab leak theory is the most likely explanation for the origins of COVID-19.
00:10:32.940Chris and a majority of Democrats and Republicans also now believe that.
00:10:37.680No thanks to uncurious lemmings in the press like you.
00:10:41.520But it is not just Eliza who's upset with players like Isaac.
00:10:46.420Scott Van Pelt of ESPN delivered a viral rant against these players on his show this week.
00:11:12.780Kevin Durant called Kyrie Irving's decision personal.
00:11:15.360But when personal decisions impact the player's ability to be available to their employer in a relationship which makes both of them a whole lot of money, what happens next?
00:11:25.960I also don't know why athletes who have trusted doctors their entire careers to care for ailments suddenly distrust them on this specific issue.
00:11:33.020If there were Internet threads about how having your ACL repaired with a ligament from a cadaver would turn you into a mutant, maybe they'd be hesitant to do that, too.
00:11:40.360Not for nothing, but the condescension dripping from Van Pelt and Leach and Silliza is coming from three white guys, essentially describing NBA players who all happen to be black as a bunch of ignorant dopes.
00:11:57.700It's more evidence of how dishonest these media hacks are and the collapse of their vacuous claim that they are for player empowerment, support NBA players finding their voice and want them to voice their unvarnished opinions.
00:12:12.580Sure, the media loves that when the opinions are, quote, the correct ones.
00:12:19.900It's going to be front and center this season in the NBA and elsewhere.
00:12:22.760And while the goal of these media outlets is, theoretically, to get more people vaccinated, shaming and bullying those who make a different choice and pretending they don't have perfectly reasonable reasons for those choices, like already having had COVID, is the absolute worst way to persuade anyone to listen to them.
00:12:59.440And we can continue wresting control from media hacks who loathe anyone who disagrees with them by continuing to speak out to your school board, your employer, your local paper, your neighbors on Twitter, Instagram, Facebook, and elsewhere.
00:13:19.620He's hosted the Glenn Beck program on Blaze TV.
00:13:23.320So Glenn, Laura Ingram, who got so pilloried for shut up and dribble, is now being echoed by these media guys because the basketball players don't necessarily want to be forced to get a vaccine, especially if they've already had COVID.
00:13:37.660And now the shut up and dribble crowd, right, has grown, but without any acknowledgement of their own hypocrisy.
00:13:43.240Isn't it amazing how the so, so tolerant left loves everybody's opinion until they disagree with them?
00:14:48.240If I if I happen to pick a crazy doctor, well, that's my right to pick a crazy doctor.
00:14:53.980I mean, if you remember Chris Cuomo, his doctor that treated him, treated him with soup and is is, you know, it was treating his astro body.
00:15:06.300So please don't tell me that I have to have a doctor that you approve of when you wouldn't even look into the doctor that Chris Cuomo was getting treatment from.
00:15:17.780And he was telling us exactly how to live our life.
00:15:20.600His wife is taking baths in bleach, for God's sake.
00:16:30.980Well, that was like I mean, that was one of the earliest interviews I did on my podcast was with Mark Cuban,
00:16:35.460who came on in the first half of the the podcast was talking about how we have a moral duty to speak up when we see things that are wrong, that are they're morally wrong.
00:16:47.300And that's why it was important for the NBA to have BLM on the court, you know, painted on the court and the players to have these jerseys with these social messages on them and so on.
00:17:15.000I mean, it was like, shit, fuck, shut.
00:17:16.700You know, whoa, I've touched a nerve because, yeah, his his his bravery wasn't quite so large when we got to the subject.
00:17:26.300Yeah, because it's not it's not even about bravery.
00:17:28.360It's you know, it's are you on the side of, quote, the future and the future is, according to some, you know, the great reset, build back better China kind of policies.
00:17:44.540China is our friend and people who believe in the Constitution is not they are not our friend.
00:17:50.640You know, when Nancy Pelosi said in England, what was it, last week or the week before, she actually said that we know that China is continuing their genocide with the Uyghurs.
00:18:06.380Now, I want to stop the tape just there.
00:18:10.980You are admitting as a federal official that, you know, that they are committing genocide on a group of people.
00:18:21.100OK, that that should probably be noted.
00:18:24.120We didn't we didn't even admit that during World War Two when we clearly knew what was going on.
00:18:30.560We didn't even admit that because then you have a moral responsibility to stop it.
00:18:34.760But she said, we know that they're continuing the genocide on the Uyghurs, but we have to work with them on global warming.
00:18:43.860And so we can't bring things like that up because we need them to save the planet.
00:18:50.340Are are these people completely out of their mind?
00:18:54.940They are they are so disconnected from reality and from, you know, everything that we were all taught by our moms and dads or our grandparents or somebody that we really respected and looked up to.
00:19:08.460There are certain common sense things and we've abandoned all of them, all of them.
00:19:51.500I mean, because if you really wanted to make sure people had the vaccine, I know I get the flu shot because I'm in the doctor's office for something.
00:19:58.820He's like, oh, by the way, if you had your flu shot yet now, I haven't.
00:20:21.780And he was saying that he was getting offers from people who are on like the board of his hospital for $100,000 so that they could get one of the early vaccines.
00:20:32.940People were desperate to get the vaccine.
00:20:46.540And some people have had COVID and genuinely do not appear to need the vaccine.
00:20:51.840We just had two doctors on yesterday saying the studies show you do have better immunity when you've had COVID and you could boost it with a vaccine on top of your recovery from COVID.
00:21:54.980One of the one of the lead virologists at Johns Hopkins, I had him on my show a few weeks ago, and he's like, look, I mean, that natural immunity exists.
00:22:27.000Manaka Gandhi, who is Gandhi, who is pro vaccine mandate, even she was saying, in particular, if you had a strong case of COVID, you've got very strong antibodies.
00:22:36.720But these same people are telling us to listen to science, Glenn, who, you know, they won't acknowledge it.
00:22:43.480There's the same people who call women now bodies with vaginas.
00:22:47.440And it's like the rest of us, like you say, are sitting around saying, am I the crazy one?
00:23:45.040By the way, here in New York state, those health care workers who are about to get fired, the teachers who are about to get fired, they don't get unemployment benefits.
00:23:51.700Our governor has said you get nothing.
00:24:29.280First of all, it's not a vaccine like the smallpox vaccine or, you know, the polio vaccine where we are eradicating it.
00:24:39.160It's more of a treatment than it is a vaccine.
00:24:42.600You can still spread it once you've been vaccinated.
00:24:45.500If this were like the earlier version, right, when we had before Delta, that version of COVID wasn't as transmissible to the vaccinated or by the vaccinated.
00:24:56.920And, yes, it might give you a little bit more of a measure of protection against spreading it or receiving it.
00:25:01.620But very clearly, you can spread COVID right now if you've been vaccinated.
00:25:07.780So to pretend that you can't put that teacher in front of my students unless he's been vaccinated, because otherwise he could he could spread COVID to my kid.
00:25:16.320He can spread COVID to your kid even if he's been vaccinated.
00:27:31.900Wait, let me tell you something, though, a quick little story before we take this break about Ace Hardware.
00:27:36.680So we did the quarantine in Montana where we had been skiing when everything shut down and we had gone on that trip, understanding that there was a chance that could happen.
00:27:45.180So we kind of made plans and we stayed in Montana and everything was closed, as you know, during quarantine out there everywhere, everything.
00:27:52.880But there was I mean, this is like a sleepy little town in Montana.
00:27:56.500There's there was one Ace Hardware that was open.
00:27:59.860So I go in there and Montana is not not like New York City, Glenn.
00:35:20.520And if you want to blame it on incompetence, then you have to play the odds.
00:35:24.780What are the odds that everything this administration has done has worked not in the favor of a stable United States government or a stable society?
00:36:16.220I mean, they did pull out on the 31st.
00:36:17.560So that's a point, I think, in favor of incompetence as opposed to master plan.
00:36:23.140But now I'm going to give you the floor.
00:36:24.340But I also think that you look at what's happening at the border.
00:36:27.580You look at, you know, the economy pumping all this.
00:36:30.080But you want to there's so much to discuss about the economy today.
00:36:32.300But just in general, for now, pumping all this money into an economy where inflation is already on the on the rise.
00:36:39.320I think those things are driven by their, in large part, woke, a nonsensical ideology.
00:36:46.340They want more immigrants across the border because they believe somehow they're going to turn into Democrats and it's going to help them win votes and the ends justify the means.
00:36:54.220They want more people to have this money through the three point five trillion dollar plan because it's it's part of the rescue of the middle class, the working class.
00:37:04.580We're going to give free college. We're going to, quote, free, free college, and we're going to get free daycare.
00:37:09.380We're going to free everything. Take from the haves, give to the have nots closer to a utopia.
00:37:14.260I think that's how they see the world.
00:37:17.120Yeah. So that's kind of what I'm saying when I say they don't they're not twirling their mustache.
00:37:20.680They think that they are right. They think that they are right.
00:37:23.980But we are also being managed in our decline.
00:37:27.020And, you know, I don't care if you think you're right.
00:37:32.780You are not abiding in many cases by the Constitution.
00:37:37.100They are intentionally. Tell me tell me how the mistake is that we put somebody who was involved in tree spiking into the BLM management.
00:37:48.700That's not Black Lives Matter, but but Bureau of Land Management.
00:37:55.060So you put in an activist who was a radical hanging out with terrorists.
00:38:02.760You put them in charge of all of the federal land, which I'll remind you, I'm I'm a rancher in Idaho.
00:38:09.520So I have cattle and I have a thousand acres and cows that are grazing on a thousand acres.
00:38:16.920Well, no rancher has enough land to graze their cattle alone.
00:41:00.860I still hold these things self-evident that no matter who you are, you have a right to live.
00:41:08.260You have a right to express yourself the way you feel without any interference.
00:41:12.660And apparently all of these human rights organizations, they don't actually believe that anymore.
00:41:19.800It's not just Glenn Beck raising attention to these things and concerned about them, nor Megyn Kelly.
00:41:25.660The latest polls for Joe Biden are terrible on a lot of these core issues.
00:41:30.760I'm going to bring it back to that next, and then we'll get to what's happening with our economy to the point where the dollar store is now raising most of its prices to $1.50.
00:41:40.700I mean, if that doesn't encapsulate what we're looking at in a nutshell, I don't know what does.
00:41:45.320Welcome back to The Megyn Kelly Show, everyone.
00:41:52.600My guest today, Glenn Beck, host of the Glenn Beck program on Blaze TV.
00:41:59.740Biden's now officially underwater in virtually every poll I've seen, meaning his disapproval numbers are higher than his approval numbers.
00:42:06.380There's a morning consult poll showing, oh, sorry, no, this is Quinnipiac, showing, OK, his approval with independence is now stuck in the 30s.
00:42:18.080When it comes to how he's handling foreign policy, 59 percent disapprove, only 34 percent approve.
00:42:26.900When it comes to the job of commander in chief, chief, 55 percent disapprove, only 40 percent approve.
00:42:33.160When it comes to how he's handling the economy, 52 percent disapprove, only 42 percent approve.
00:42:40.160And even covid were just a couple of months ago.
00:42:43.400His numbers were very high, at least his base, like the way he was handling the pandemic.
00:44:01.940And in the latest polls, by the way, show that the I think it was some 44 percent of Biden's voters voted for him simply because he wasn't Trump.
00:44:25.220I mean, if you look to the future, it's bleak for Democrats because there isn't anybody that speaks the language of the heartland and and normal people anymore.
00:46:16.980It has a lot of the overreach, um, to take over as the federal government, some of these elections.
00:46:24.080Um, and that's the only thing I could think of that would save them is dirty play on the elections because there's no future to this.
00:46:33.640Well, I mean, the thought of pushing out a woman, a woman of color who's been the sitting vice president as the heir apparent is, I mean, for this party that's been lecturing us about all those things for how many years now?
00:47:14.140We're going to talk in depth with Glenn Beck, his economic predictions.
00:47:17.400Uh, and by the way, speaking of vice president Kamala Harris, we're going to talk about the fallout now from her praising a student who accused Israel of ethnic genocide.
00:47:36.900My guest today, Glenn Beck, host of the Glenn Beck program on Blaze TV.
00:47:42.080And to kick this off, uh, our discussion on the economy, let's just talk about inflation because that is something it's like this scary economic word, but most Americans know it and experience it as just price increases.
00:47:55.240Price increases on everything from gas, uh, and meat to things like what you buy at the dollar store, where now for the first time that I can ever remember, instead of things costing a dollar, they're going to be a dollar 50 announces Dollar Tree stores saying many of their items just have to go up.
00:48:11.740Now, if you are building a house, you have felt this acutely, um, the prices are going up all over the board.
00:48:18.180And while the Biden administration continued to say, no, no, no, they're going to go back down.
00:48:23.400So temporary blip, they said in the spring, it isn't true.
00:48:27.540Um, the, all the forecasts now are, they're getting more dire by the moment, but they're not good.
00:48:33.100The Fed is predicting inflation this year will be 4.1% up from the June forecast of 3.4.
00:48:39.340The National Association of Business Economists, they raised the fourth quarter inflation forecast from, it had been 2.8 to 5.1%.
00:48:47.300Um, now even Biden's top economic advisor who had been the most vocal in denying that, uh, that $1.9 trillion, you know, that, that was the COVID rescue plan.
00:48:57.420Uh, he said, that's not going to trigger inflation.
00:48:59.400Now he says, we're going to see inflation through at least the middle of 2022.
00:49:02.520Um, there was a great article in issues and insights today by the editorial board, just putting the lie to all of this, at this, as they're predicting GDP growth is going down.
00:49:13.260So we're going to make less, we're going to spend more.
00:49:16.000And now two thirds of the public is saying they believe inflation is going to be a long-term problem, including 59% of Democrats because people feel it.
00:49:24.640That's something you cannot tell them not to believe their lying eyes.
00:49:27.600They feel it and they know the difference between $1 and $1 and 50 cents.
00:49:33.340Can I, can, and I don't want to speak down to the audience or you or anything, but I think we have to understand things clearly.
00:49:39.300So could I play, could, could I just play question and answer with you on how inflation, how it works and what it is.
00:49:47.540Are you going to press the magic button again?
00:51:12.500So there's, that's your new normal, but we haven't even hit any of this.
00:51:17.700At the same time you have COVID taking goods off of the shelves, you're injecting all of this money through money printing, um, to keep the economy going.
00:51:29.260They're about to, they want another three and a half trillion dollars to do it.
00:51:33.580And so all of that money is going into the system.
00:51:36.900Every time they want to build a road, if you're trying to build a patio, the too few goods would be concrete or construction materials.
00:51:46.880And so your price will go up just because the federal government is using all of those materials.
00:51:53.940So the price continues to go up and with so many dollars being pushed in, inflation happens.
00:52:01.520That's the Fed's job is to control inflation.
00:52:08.840How do you get, when you print too much money, how do you get all that money back to the Fed so you can burn it?
00:52:14.560They're increasing the number of goods, but they, well, yes, but also increasing, but, but the supply, if they can increase the number on the supply side, but they, but it's going the wrong direction.
00:52:26.960So you, you don't, you can't fix it that way.
00:52:30.580And the traditional way is the Fed raises interest rates.
00:52:34.040So when you go to buy a loan, you know, get a loan, you know, right now you can get a loan 3%.
00:52:39.920And that's what the bank is borrowing the money for or from.
00:52:45.720And then they pass it to you and maybe you have 4% interest.
00:52:49.180So the bank makes money, the Fed makes money, but when they raise interest rates, that's because the Fed says, we need 8% for you to borrow this money.
00:52:59.620The bank then charges you 10%, but that 8% that the Fed gets, they take all that money out of the market because there's too much money and they burn it.
00:53:08.820They destroy it because we have made or printed or digitized so much money.
00:53:17.820You can't, you can't imagine the interest rate that it would take.
00:53:22.540I mean, we had interest rates, double digits under Jimmy Carter.
00:53:27.060We'll have double digits, but they won't start with a one.
00:54:07.640And we're now at the point to where the Fed has to decide, I either have to print much more money, which will make inflation worse, or I've got to try to get us out of that by raising interest rates, which last week they announced.
00:54:24.040They said they wouldn't do it for two years.
00:54:25.500Now they've announced it and they're starting money tapering.
00:54:30.020So they're not going to buy as much stuff to hold this thing together.
00:54:37.680And you are going to see either the turning on the printing press at unbelievable volumes, or you're going to see a massive, massive crash and one not like 2008, one that will affect the entire world.
00:54:54.100And it will put us into a situation that we haven't seen since the 1930s.
00:55:01.060You know, they had said that they believe the conventional wisdom about spending no longer held water, you know, running up the debt, running up the deficit.
00:55:10.920We did it for so long and got away with it for so long that there was sort of new thinking on this.
00:55:17.580So we didn't need to worry about it anymore.
00:55:19.140We didn't have some huge inflation under Obama, under Trump.
00:55:23.140And so I've seen more left leaning economists come out and say that's sort of old thinking.
00:55:29.420We don't have to worry about that anymore.
00:55:31.120That's called modern monetary theory, and it is bullcrap.
00:55:35.800If you didn't need something to back up your currency, you don't think some king or dictator or country would have come up with that a thousand years ago.
00:55:46.600Of course, you need something to back it up.
00:55:49.420They're saying all we need is the potential of people paying those income taxes.
00:55:55.720So we'll go ahead and just print the money.
00:55:59.480And as long as the potential is there, then we can we can tax them whenever we want.
00:57:58.460Let me ask you about what you just said, because Joe Biden's talking more and more as we see the inflation numbers go up about profiteers.
00:58:05.820You know, it's instead of him reversing course and saying maybe it's not a great time to pump almost five trillion more dollars into the economy between the one point two trillion infrastructure bill and then the three point five trillion dollar.
00:58:19.600I love that people just call it now the reconciliation bill.
00:58:22.520I mean, it's basically just a wish, a wish list of democratic initiatives from the Green New Deal to, you know, voting.
01:01:53.020That is coming when the dollar, when this reverse repo thing, which is so complex and hard to understand.
01:02:00.700But basically what they're trying to do is to make sure that our bonds don't go our interest rates and our bonds don't go to zero or below.
01:02:12.600Nobody's buying our bonds this every night.
01:02:16.440Now, this last few nights, it's been over a trillion dollars.
01:02:21.140The banks are pumping in to the Fed to keep our bonds afloat.
01:02:27.400This is really, really end stage, last flare on the tip of the Titanic as it's going down.
01:02:36.140When this thing starts to come apart, it's going to come apart quickly and sink quickly.
01:02:43.460And people need to be prepared for it.
01:02:46.140They need to understand that the America that they have always lived in, these systems, you know, I had a I had a I started talking about the economy in 2004 and nobody believed me.
01:02:57.400By 2007, I am I am shooting off flares saying, I'm telling you, a crash is coming.
01:03:04.080A year later, it happened when I was at a I was at some fundraiser or something in New York and a college professor came up to me and he was from Colombia and he's an economics professor.
01:03:16.340And he said he started the conversation with.
01:03:19.480So where did you get your economics degree?
01:03:22.760And I was I was like, oh, boy, here we go.
01:05:51.480They're trying this is this is part of the thing that they're doing every night with the reverse repo is they're trying to keep that bond from going negative or to zero or nobody will buy it.
01:06:03.720Or the worst part, let the market take over so that yield goes way up.
01:06:10.420What that means is, just like anything else, if you go into the bank and you have a great, stable job and you spend money the right way and you're reasonable, you'll get a low interest rate.
01:06:22.580But the more risky you are, the higher the interest rate.
01:06:27.620So bonds, when they talk about yield, don't think of it like that.
01:06:30.540Think of it as we're a really bad risk.
01:06:33.180And so we have to give these countries 6 percent, 8 percent, 10 percent to borrow that money.
01:06:40.820Now, here's what you have to understand when you think about the government.
01:06:44.500Forget about all the fancy things they've dressed it up as.
01:06:47.820When the government is borrowing money, it's just like you.
01:06:52.380And our bond sales, our interest rate on that debt is an adjustable mortgage.
01:06:58.940So every time, every day bonds are bought and sold, the the interest rate that we have to pay out, if it goes up, we're really screwed.
01:07:10.060If it goes up to 7 percent, we can't make our bills.
01:07:14.360We can't. We are the worst risk in the world.
01:07:17.580So everybody's getting out of that, which makes our dollar worth less and less and less.
01:07:22.380We're printing, which makes our dollar worth less and less and less.
01:07:25.480Because somebody is going to come up and say, we're the new world reserve currency when that happens.
01:07:31.400I know. Well, that's where we will be Venezuela.
01:07:33.080That's where I feel like it falls apart.
01:07:34.520You know, that's China had major setbacks like who because who's the next best alternative after us?