RADIOJuly 10, 2024

Who Doomed the Petrodollar: America or Saudi Arabia?

There has been a lot of confusion lately about Saudi Arabia allegedly ending a 50-year-deal with the United States. The "deal" tied oil sales to the US dollar. But many have claimed that the deal never actually existed. So, what's really going on here and should Americans be worried? Financial expert Carol Roth joins Glenn to break it all down, including why she believes the United States and our Federal Reserve are really to blame for the petrodollar's destruction. Plus, Carol explains why the Biden administration can insist the economy has never been better, although our wallets can tell the opposite is true.

Transcript

Below is a rush transcript that may contain errors

GLENN: Before we get to Carol, I want to give you some highlights from this Blaze media. And TheBlaze.com story.

Biden's phony numbers mask true economic pain. The official government numbers in the US economy have been contradictory and confusing for quite a while now.

What is clear upon closer examination, is that the federal government's overspending and overregulation are doing serious damage to the economy.

And we have yet to see the worst results of those policies.

The unemployment increase, seems to contradict recent signs that the economy has been weakening. In addition to the conflicting rise in unemployment. Other signs of deterioration. Include stagnant retail sales.

A slowing of consumer spending. Weak industrial product. Manufacturing orders. Increasing consumer debt.

Depressed by new housing starts. Falling annual earnings of full-time employees. And rising commodity prices. The Federal Reserve chairman, Jerome Powell, knitted, he believes the White House has been cooking the books.

This is the fed chair. Stating last week, you have payroll jobs, still coming in strong.

Even though, there's an argument, they may be a bit overstated. The only job growth, in the US, is for illegal aliens. Listen to that.

The only job growth in the US, are for those illegal aliens, who will work for below minimum wage. Which also explains why inflation hasn't spiked in the past year, as millions of illegal aliens were hired.

Legally resident American workers saw no job increase in the past year. And unlawful residents, willing to accept wages Americans can't are dragging everything down in the wage category.

With employment continues for American workers stagnant at best, the job market is another indicator that the economic growth is slowing, and the Federal Reserve should lower interest rates to reduce its suppression of economic activity.

However, they decided not to. Because it will -- it will spike inflation again.

The markets have already priced three expected interest rate reductions for the year.

However, suggesting a correction is in order.

Even so, the stock market stayed steady after the fed's interest rate announcement with the Dow falling slightly.

And the S&P 500 and NASDAQ, rising to new record highs.

Economist Robert Genetski. Genetski, calculates that the S&P 500 is currently overvalued by 34 percent.

If investors decide the market is near peak and start selling, taking their profits before prices, fall. There is more trouble.

This overspending continues from the federal government, as well.

In the first eight months of the current fiscal year, the current government has already accumulated more than $1.2 trillion, in additional debt.

With a staggering deficit of $348 billion last month alone.

Investors were reportedly believed the US economy is about to enjoy a significant expansion, because of AI.

That's boosting the stock markets. The shares in tech companies. Chip makers. And even utilities.

The government's stimulus injection may be waning, and the Fed's interest rate hikes are starting to bite, as indicated by the slowing housing and manufacturing production.

Higher interest rates hinder business from investing in production and consumers from spending on goods.

That support those businesses. Additionally, the Biden administration has implemented a regulatory program, that will directly cost the economy 3.95 trillion dollars in 2025.

And indirectly result in a staggering 75.05 trillion, in opportunity costs, for 2025, alone.

That might take a bite, no matter what AI is going to do.

Carol Roth is here with us.

Carol. Are we beginning to see all of the signs of the wheels coming off of this thing?

CAROL: I think we've been seeing the signs of the wheels coming off of this thing for quite some time.

And they're sort of hanging on by a thread.

Now, certainly, a lot of the numbers that are put forth. Are meant to window dress, and say, oh, no.

The wheels are still turning. And they're doing just fine. And they will last for a while.

We have seen cracks, and when you peel back the onion. And you look at things like the deficit to GDP, which are about two times the historic average at a time when they're telling us, there's an expansion. We know there's something wrong.

Because normally, when you have an expanding economy, that means you're taking in more revenue at the government level. And that means you're running less of a deficit because you have more money input.

What's happening now is the Biden administration has flipped that on their head. And they're using deficits to window dress the appearance, that we have growth.

And we're seeing that start to crack. Because even that, you know, window dressed growth is starting to come down.

We saw the first quarter GDP come in, almost a percentage point lower than expectations.

A first reading. The second reading was even lower.

So now, as of the second reading. We're at 1.3 percent. For the first quarter. And we're expecting a third reading.

And things keep getting revised and revised.

So all of the, you know, appearances that they're putting forth. And to make it seem like everything is looking great.

We've seen those cracks. And they're just becoming larger and larger.

GLENN: So do you think that there's any way possible, that anything, excuse the pun here, Trumps the economy.

I mean, they always say in elections.

You know, it's the economy, stupid.

And no matter how you window dress this.

Everyone knows, I don't have as much money, or my money doesn't go as far as it used to. And I'm having a hard time keeping up.

At almost every level, this is happening.

VOICE: So this is an interesting question.

There was a Monmouth poll, that came out yesterday.

That showed, far and away.

That the economy was the biggest issue.

You know, number one issue on people's minds.

But there's a disconnect by party. And obviously, when you have the -- the Republican side, and I would think to some extent. The independents as well.

There's more of a connection with the -- with the fiscal reality that's going on. And it becomes, you know, we believe so afford literally four more years of that.

There's a disconnect from the Democrats who don't believe in mass and reality anyway.

And so even though, they may be hurting, personally. They're going to make excuses. And say that it's for, you know, any sort of litany of other reasons. And it doesn't have anything to do with these specific policies, that we know have driven these outcomes.

You know, there's weather it's things like the American rescue plan. And they direct stimulus. That's literally called stimulus.

That overstimulated the economy. And caused inflation.

They're going to tell you, oh, no. Look, inflation has come down. Even though, they're still going to the same grocery stores, the same gas stations. Having to pay the same rent. And they're believing and buying into the gaslighting.

So that's my concern.

Is when you have so many people who are decoupled from reality. And can fed the propaganda that's gaslighting. And they're willing to -- basically, you know, they're cults. That that is not going to show up in the polls. The way that it should. If we were operating, you know, with some sort of normal baseline.

GLENN: Carol, I'm going to take a quick break, early here.

Because I don't want to interrupt you on this petrodollar thing.

Because I have seen stories that say, this is true.

Stories that say it wasn't true. I don't think there ever was a -- there wasn't a concrete deal. It was more of a handshake with Saudi Arabia. With the petrodollar. Wasn't it?

Or did we have a written deal?

CAROL: That's right. So I was surprised when I saw this as well. You know, I wrote about this in You'll Own Nothing. We have a whole chapter on it.

And there was a deal put in place. But never once did I come across anything that said, we have a specific expiration. But we know deals that, you know, are made. Can be shifted and changed at any point in time.

And I think that's the point we want to talk about.

GLENN: Correct.

Okay. So we'll do that next.

Because the petrodollar. If the world goes off the petrodollar.

That is -- that is the beginning of the end of the dollar.

It's just a matter of time. And what are people replacing? It with?

And so far, central banks are not replacing it with any currency at all.

We'll talk about it here, in just a second.

Okay.

So, Carol, explain why the petrodollar is so important.

VOICE: All right. So there's this story that was going around last week. That the Saudis had ended this agreement, that had been put in place in the '70s.

So what happened was that when the US went off the gold standard, they were very concerned over what was going to happen. So they created this secret delegation, that went to Saudi Arabia.

As part of a diplomatic chore. And there was a lot of chaos going on at that time. Not only did we go off the gold standard.

There was an oil embargo put in place by the Arab oil exporters. That set the price of oil sky-high.

So the big objective, was basically, they -- the US didn't want crude oil.

You know, energy. Which is obviously really what fueled growth around the world, to become an economic weapon.

And they knew they knew, okay. Well, now we're off the gold standard.

We had the currency. Wouldn't it be great to have somebody to finance their deficits?

So what they did, is they went to the Saudis. And they said, well, look, you come. You take -- you're going to agree to basically price oil in dollars.

And that's -- around the world, oil is going to be priced in dollars. And you will have all this excess money.

We want you to plow that back into US treasuries. Everything that you get in. We want to you plow that back into treasuries?

Why did they want that? Because that obviously helped the US finance their deficits at a very cheap rate.

He said with be okay. We'll do that. What we want in return, basically some economic and military support. And so they made this -- this deal. That was brokered.

The interesting part is there was a secret piece of it, and that was that the Saudis did not want everyone to know, that they had this huge Treasury stockpile. So for more than four --

GLENN: Why?

Wait. Wait. Wait.

Why didn't they?

CAROL: Because they must want everyone to know that this was sort of the underpinnings of the deals of how closely they were in bed, with the US.

GLENN: Okay. With the US. Okay.

CAROL: And that this is what they did. So this was actually uncovered by a Bloomberg report.

So for 41 years, what the US Treasury did when they broke out what central banks held the US Treasury, and you can go see if China holds this. Japan holds this.

They lumped Saudi Arabia in with 14 other nations. So basically, you could see, oh. We cut this special deal, and now it looks like now, that there's all this wonderful demand for treasuries around the world.

And it was kind of unclear that there was this alliance going on.

So what does that do? It creates a massive demand for the Treasury, because not only are the Saudis in there as huge buyers, but when you have -- you know, sort of a de facto basis. The oil price in US dollars. Then every other central bank will also want to make sure that they have a stockpile of a dollar equivalent security. That if they need dollars, they can cash in.

Of course, as opposed to holding actual dollars. When you hold the Treasury you do get some income. Or you get an interest rate. So basically, this has created huge demand for Treasuries. It means that the interest was artificially suppressed by that demand. And that the US government was able to finance their deficits.

It also meant that trade around the world, was done, you know, US dollars. So not only are these central banks, holding them in the reserves. There's all this trade that's happening in US dollars.

So this actually worked out for quite some time.

The Fed holding basically the world's reserve currency. And managing it. They held the US dollar fairly stable. When you saw the price of gas go up. That they would loosen monetary policy.

And when it was too low. They would tighten it, that they would stay in some sort of a range. Sometimes that was at odds with what was going on domestically.

But as the holder of the world's reserve currency, that was their job.

GLENN: Hang on just a second. Stop for just a second.

I just want to make the point: This is right now, where we're about to see the change, and it's not happening now. It's already happened.

We -- when we got off the gold standard. We promised the world, we will never put ourselves, you know, absolutely first. And go off, and do crazy spending.

And, you know, just break everything for America.

And that's why, it was at odds, sometimes. The fed's policies.

Were at odds.

With the United States policy.

Or -- or -- wants and needs.

Because they had to balance it for the world.

And then what happened, Carol?

CAROL: Yes. So for the economic wonks out there, that's called the Triffin dilemma. You sometimes have to make these tradeoffs between what happens domestically and what happens internationally.

What happened, if we come back to today, is that the Fed has managed to hold the dollar, not stable.

Either for the world, or domestically. So it's not like they even made the tradeoff.

They just abandoned it altogether. But going back to 2005, they decided when the price of oil shot up due to China's increase in demand.

Hurricane Katrina, a whole bunch of things. That they just weren't going to play this game anymore, and that's when things started to crack.

Then we had the Great Recession financial crisis, and so on and so forth.

And the US government continuing to run these huge deficits.

And just, you know, creating a really challenging situation, economically.

So the big issue, if you are these countries around the world. That now have everything priced in dollars.

All your major commodities.

It's not just oil.

It's then extending into food.

Everybody is trading into dollars.

When you have these huge swings in the dollar, that means, that threatens as a nation.

Because now you may not be able to afford energy.

Or you may not be able to afford your food for your country.

That's a national security issue.

GLENN: Forty seconds.

CAROL: Countries are getting sick of that. We weaponize the US dollar. And at the end of the day, they're starting to move away from it. Which threatens our ability to have cheap financing and our standard of living.

GLENN: And so the Saudis did not break a deal.

We've broken the deal long ago.

And they're just all doing what would normally be done. It's no longer good for me.

It's got to be good for both of us.

And so they didn't stop the deal. They're just naturally moving away.

And it's -- the money is going to gold, not other currencies at this point. Correct?

CAROL: Correct. You got it. You nailed it.

Mark Levin RIPS Biden-Harris for ENABLING Iran 1 year after Oct. 7 Hamas attack on Israel

On the 1-year anniversary of the Oct. 7 Hamas attack on Israel, Glenn Beck speaks with Mark Levin about where the world is now: American hostages are still in Gaza, people around the world are protesting Israel, and Kamala Harris is offering money to Lebanon after Israel's attacks on Hezbollah! Mark Levin puts it bluntly: our "pathetic, weak" government was appeasing and subsidizing Iran way before the Oct. 7 attack, and it continues to do so today. "This administration has a ton of blood on its hands," Levin says. "We are subsidizing the modern-day Nazis!" Levin also has some choice words for Kamala Harris after her recent response to a question about Israeli Prime Minister Benjamin Netanyahu ...

Transcript

Below is a rush transcript that may contain errors

GLENN: Mr. Mark Levin.

How are you, sir?

MARK: I'm good. I must know you played fort chiefs. Very cool.

Do you have a ring?

GLENN: Yeah. Three of them. Yeah, yeah, yeah. So, first of all, how are you feeling? How is your leg?

MARK: Dragging behind me. But we're good. I don't recommend tearing your tendon on your quad and your knee. I don't recommend it.

GLENN: Yeah.

MARK: It tore right in half.

GLENN: Did it really?

MARK: Yeah. Anyway, enough of me. How about you?

GLENN: Yeah.

Let's talk about Israel. 365 days ago.
In fact, do we still have the counter up? Yeah. There it is.

We put a counter up, counting the number of days. There have been hostages. We're at 365 today.

366. If you're counting by Israel time.

And still, nothing.

Absolutely nothing.

And today is the anniversary. What are your thoughts?

MARK: You know, my thoughts are, leading up to October 7th, our government, not only appeased Iran, but subsidized Iran. Sent an Iran special, this guy Mali, who you're family with. To negotiate with the Iranians.

They saw this. They saw the most pathetic, weak, American administration ever.

And we were giving them money for our hostages. $6 billion.

We were not enforcing the restrictions. Money was pouring into that country.

They built up their military. They built up their economy, which was teetering.

And I think they figured, you know what, what the hell is Biden going to do, if we unleash Hamas?

They knew it unleashed Hamas and Hezbollah. Hamas attacked on the 7th. Hezbollah started filing missiles on the 8th.

And they were right, in many respects.

This administration has a ton of blood oats hands. Still does.

And the reason why the hostages aren't out, in many respects. First of all, Hamas is a blood lust terrorist operation.

They don't care about these hostages. That's number one.

Number two, they've had any comfort, from this administration, for from day one, where Blinken put out a tweet and then pulled it back, demanding that Israel enter into a cease-fire. They have tied Israeli's arms behind their back. They have cut off arms. They have cut off funds. They have actually allowed more funds to flow into Iran by far, than into Israel. They're still cutting off arms than into Israel. They still are cutting off arms. They publicly, privately, trashed Netanyahu. They leaked against the Israelis. They try to coup against Netanyahu. When they're trying to bring guns. And these other reprobates, that he had in his national security cabinet into the United States, to try to figure out how to topple him.

This is a very evil, diabolical administration. And they want to do to Israel, what they did to Afghanistan. Let's just get out. Let's call a victory. And Israel can't call a victory. Because it won't survive. And its people will be called out.

Even now, they are trying to bribe Israel, and blackmail Israel and not getting Iran's nuclear sites, which need to be eliminated.

GLENN: Yeah. Why would you do that? Why would you do that?

MARK: I'll tell you why. There was a piece written in the tablet. Tablet.com, a year ago. Michael Duran, and another gentleman. And he said, that Obama -- remember, Blinken was his deputy Secretary of State.

Obama, Biden, Blinken. And, yes, Harris.

Their ideology is that Israel cannot be the most powerful military in the Middle East. That we can work with Iran. So Iran can balance off Israel.

They're sympathetic to Iran, believe it or not, anyway.

Because they think, with the Shah of Iran, that we install him.

And that it's American imperialism. And colonialism.

And Khomeini, the first one. His reaction to American colonialism and imperialism. And we just need to work with these people. It is so perverse.
It is so outrageous. And so they want to weaken Israel. Strengthen Iran.

And I'm sitting there thinking, three-fourths of the people of Iran, want to overthrow that government. Iran. It's Iran that overthrew the Lebanese government, through Hezbollah. It's Iran that helped Syria slaughter half a million of its people to stay into power.

It's Iran, that is taking over Iraq, with all the blood that we shed there.

It's Iran that's destroying Yemen. But these are people are out of their minds. And they're trying to assassinate Donald Trump. And, you know, yesterday, Glenn Beck. Yesterday, we gave the okay for South Korea to release the funds to another country. $6 billion to Iran. So Iran sees this. They hear Biden say, Israel, don't do the deathblow against Iran.

And so they feel they can do things that they never would get away with under a Trump or for that matter under a Reagan. Or for that matter under a Clinton.

It's just unbelievable.

GLENN: Yeah. You know, the idea that we caused all this, in '79.

Okay. Let's just give you that. In the same way, that I'll give you or you should give me, that the United States, under Woodrow Wilson, created the conditions, in Germany, that brought us to World War II.

It was the Paris peace treaty, that was just a nightmare.

Okay. We didn't then cozy up, to the Nazis, and say, well, you know what, we kind of caused this. So let's just -- let's just prop him up.

That would have been insanity. And it is exactly the same insanity.

MARK: You know, it's very interesting. Neville Chamberlain, peace in our time of appeasement. Neville Chamberlain never subsidized the Nazis.

We are subsidizing the modern day Nazis. $100 billion is floating into their country.

Because we won't enforce these sanctions. Because we give them money for hostages. We're trying to buy our way. Subsidize our way in.

Joe Biden is an absolute buffoon. But Harris is an ideologue.

Harris is under Obama's wing. And Harris despises the state of Israel. And is constantly trashing their elected leader, Netanyahu.

GLENN: Yeah. Listen to this.

This is from CBS. Face the nation. Cut 18.

Here's Kamala yesterday.

VOICE: Do we have a real close ally in Prime Minister Netanyahu?

KAMALA: I think, with all due respect, the better question is, do we have an important alliance between the American people and the Israeli people?

And the answer to that question is question yes.

GLENN: Well, wait a minute.

Hang on just a second.

Because I think we had an important alliance, you know, in the Cold War, between the American people, and the Russian people. What she's saying is, the government of Israel, we don't have an alliance with.

Isn't she?

MARK: Think about this. This is a representative government. That is a (inaudible) government. Netanyahu today, is the most popular figure in the state of Israel. Because what he's done to Hezbollah, what he's about to do to Iran.

You can't say to a democracy, we have a relationship with the people, but not be people that choose their leaders. As I said, they tried to take him out several times. Through a coup. Through his cabinet. Is a disgusting statement. She doesn't talk about Xi that way. She doesn't talk about Putin that way.

She doesn't talk about the Islamic Nazi who runs Tehran that way. She talks about Netanyahu that way.

Why? Because the fact is, and I'll say it, she's evil. And he's an anti-Semite.

Her father was a Marxist. Her pastor is a Marxist. Anti-Israel.

You know, I've said it many times, Glenn.

If you hate America, you hate Israel. If you hate Israel, you hate America. Why?

Because we share this Judeo-Christian belief system, because the Holy Land is the Holy Land for the Jews and the Christians. And what Israel is trying to do is defend itself. It was attacked by Hamas. It attacks Hamas. If it was attacked by Hezbollah, it attacks Hezbollah.

If it's attacked by Iran, it attacks Iran.

And people say, they're really under attack, on seven sides.

We're attacking on eight sides.

We're withholding weapons from them. They're running out of bombs to take on Iran. The reason why they're withholding 2,000-pound bombs isn't using those in Gaza. Because we don't want them to take out those nuclear sites.

And they need 2,000-pound bombs to do that. Just think about this.

I told the Iranians today.

That Biden and Israel, is to not hit the nuclear sites and not to hit the oil sites.

Well, those are the sites that they need to hit. In order to -- the people there, they're just waiting to rise up again.

GLENN: I know they are.

MARK: And Obama did nothing when they rose up the first time. Biden did nothing when they rose up the second time. And now they're strengthening this genocidal regime, that brutalizes its own people.

And when you're 157 million to Lebanon. Lebanon is controlled by Hezbollah. The Lebanese people hate Hezbollah. The Syrian people hate Hezbollah. Because they went in there to help Hasad retain his power there.

So think about this, Iran is taking over Iraq. Iran has destroyed Yemen. Iran and Russia controls Syria, Iran controls Lebanon.

And all our pressure is on the state of Israel.

Thirty percent of our Navy is sitting around in the Mediterranean there. Rather than tell Israel, we have your back, do what you need to do. I don't know why they're sitting there, to be perfectly honest at this point.

GLENN: I know.

All right. Mark, hang on for just one minute. I want to talk to you about what this means in the future. And also Trump and the election.

GLENN: So, Mark, I happen to believe that anything could happen between here and the election. And anything could happen after the election. I think we are a country that seems to be itching for World War III.

Do you agree with me, or not?

MARK: I don't know if we're itching for World War III. But I know other countries are. And we're not prepared for it. They've been slashing the United States military. They've been prioritizing wokism instead of preparedness.

I talked to a number of people inside. Real people, real generals, and they said, look, we don't have what we need for a two-front war. If China invades Taiwan, there's very little we can do about it. Our own inventoried weapons have been depleted significantly. Our troop levels, other than the Marines are way underneath what they're supposed to be. So if we're itching for World War III, we sure as hell are not prepared for it.

GLENN: Yeah.

MARK: I think what we have here is a leadership that is diabolical. If not evil. We have leadership that is geological. We have leadership that is incompetent and lazy.

And if you look, not just at our defense posture. But all around us.

We have a government now, that is destroying the institutions, that have been built up for hundreds of years. Our military.

Our -- our domestic police forces. Our economic system.

Our border.

We have revolution by immigration.

We have all kinds of things that are taking place, and I would argue, to empower the Democrat Party. Where the Democrat Party becomes a monopolistic party.

Every aspect of our Constitution is under attack. Separation of powers. The independence of the Supreme Court.

The electoral college. The filibuster. Which isn't in the Constitution. But protects from us factions like this current one.

They don't believe in our country. They don't believe in our Constitution. They don't believe in our people.

Which is why they're trying to -- the New York Times said, quote, unquote, tried to reshape the electorate. They don't believe in the electoral system. They don't mind us going through an electoral system as long as they win.

And so they don't believe in our military either.

So what they're doing is they're creating provocations. I would argue.

Where, Xi looks at this. Putin looks at this.

And they look at it. All the other genocidal monsters look at it and say, you know what, we pretty much can do whatever the hell we want to do.

Even in Ukraine. You and I may have a difference of opinion on this.

GLENN: That's all right.

MARK: What we're doing to Ukraine is horrendous. Is horrendous. I'll tell you why.

We don't really want Ukraine to win. So people are dying by the tens of thousands. You're getting just enough arms to put up a defense. But not enough arms to actually protect our country.

GLENN: But isn't that the way we fight wars now?

MARK: It is. And that's the way they want Israel to fight their war. And Netanyahu is saying, no damn way.

We have to take these guys out. And so you're 100 percent right. These forever wars are intentional. Are intentional.

And this thing with Ukraine and Russia, if Trump doesn't get elected, it will either be a forever war. Or Russia will wind up winning anyway. Because now they create an axis between Russia and China.

Which for half a century, we have prevented.

GLENN: I know. I know.

MARK: North Korea and Iran. It's very serious. You're right. I don't know if they're itching for World War III, but certainly the conditions exist. And it's a five alarm right now.

GLENN: Yeah. So tell me a couple of things. Because I only have a couple of minutes left with you.

The thought of the hurricane relief. What's happening on that.

What do you know, is happening on the ground

And how is this going to affect the election?

What are your just on the election?

MARK: Fiscal, thank you for what you and your group is doing. You're a great patriot, Glenn. You really are.

I'm very concerned. Because we're talking about half a million people, who have been affected in a horrendous way by this hurricane.

It just turns out. Particularly North Carolina. Yeah, it looks like 80, 90 percent Republican vote. So this is a big problem.

Turns to FEMA. I read a report that, you know, Trump and Pence before hurricanes, used to have these pre-hurricane meetings, which is what every administration has done. Kamala Harris didn't attend a single one, and now we have this massive hurricane.

It will cut right through the heart of Florida, which is also pretty much a Republican state. I see no urgency. Do you see an urgency here?

GLENN: No. No.

MARK: Nothing.

GLENN: If this were -- look what happened with George Bush and Katrina, how they just slaughtered him on that.

Here's a second hurricane. We now know that Helene is as much damage as Katrina.

Nobody is even reporting it. Really, in the mainstream media. About what's really going on in the ground.

And how things need to change.

And now you have a second one, coming in on shore, on Wednesday.

And they don't seem to be prepared.

MARK: No, and Harris announces 157 million to Lebanon.

GLENN: Yeah, I know.

MARK: What?

GLENN: I know.

MARK: And people aren't noticing, yesterday. We gave the okay for South Korea to release the $6 billion which will flow to Iran. What the hell is going on here?

It's stunning.

GLENN: It's amazing. Thank you so much, Mark. For everything that you do every day.

I appreciate it. It's an honor to work on the same network with you.

God bless you.

MARK: God bless you, brother.

FOOTAGE: Glenn Beck interviews lone FEMA crew in Asheville about Hurricane Helene relief

While he was visiting the Hurricane Helene disaster zone in Asheville, North Carolina, Glenn Beck spotted a lone FEMA truck parked OFF the main road in an area where residents couldn't easily see it. So, Glenn and Rep. Cory Mills stopped to talk with the FEMA workers and get their side of the story. They tell Glenn that they arrived in town nearly a WEEK after the hurricane, that they still didn't have all their supplies, and that victims could find where they were by listening to radio or TV broadcasts (although many victims didn't have access to TVs, radios, or even living rooms and cars). Plus, the workers seemed to have a misunderstanding about whether they would go door to door. So, did FEMA drop the ball on this mission? Watch the conversation and decide for yourself ...

Trump should make THIS promise after DeSantis' response to the port strike & Hurricane Helene

The port workers strike that threatened the supply chain right before the 2024 election has been postponed. And the announcement came right after Florida Governor Ron DeSantis threatened to send in the National Guard. Coincidence? Glenn doesn't believe so. DeSantis has also stepped in where FEMA hasn't and offered plenty of aide to Hurricane Helene victims in North Carolina. With all that in mind, Glenn explains why he believes former President Donald Trump should offer DeSantis a seat in his administration if he wins ... and Glenn has the perfect department for him to reform.

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. Let me start with -- let me start with the name of the person, that is responsible for breaking the back of the strike.

Now, I'm glad they moved it down. You know, they just held it off. All right. We will hold off, until after the election.

And just about five days before the swearing in of the -- this is going to work out well.

So -- but we don't have that on the plate, to add to the stress of America. At least right now. And that is because of one man and one man only, Ron DeSantis.

Ron DeSantis came out yesterday, and said, yeah.

I'm going to call out the National Guard.

Because we're not going to be held hostage. So national guard is going to go in, and we'll open the ports. We'll open the ports in Florida. So we can get things and supplies in here.

National Guard will loan -- oh, my gosh. I love you.

I mean, if it wasn't for the icky sex, Ron, I mean, I would be gay in a heartbeat. Seriously, I just love you.

STU: Look how accepting you are. You want to talk about diversity on this show.

GLENN: Right. I don't.

STU: A gay Radio Hall of Fame member right there, I've got it.

GLENN: If it wasn't for the icky sex. Yes. Yes. Yes.

So, anyway, I'm sorry. I've -- I've got an appointment later on this afternoon, to burn some books in a hood. But this guy is amazing.

I think Donald Trump should announce a few members of a cabinet.

And he should do it right now.

He should announce, that Elon Musk has agreed to be, you know, the -- cost had much cutting czar.

STU: It seems like they floated that one. It's been discussed.

It's not official.

GLENN: He needs to announce that RFK, Tulsi Gabbard.

Elon Musk, and I've extended the invitation, to run FEMA, and close FEMA down. And give the state, the ability, the states ability to actually keep that money itself, and prepare for disaster. I would like Ron DeSantis to run FEMA. I think he would be unbelievable.

His term is up in '26. I mean, I would wait for that. Would you wait for that?

STU: Some of those ideas are great. That you just mentioned. So, yeah. I agree.

GLENN: You just can't get past your hatred for RFK, can't you?

You just hate him so much.

Because he jilted you. He said, I'm not interested in that icky gay sex with Stu.

STU: Okay. Please stop talking. Not even just about this topic. All topics. If we're going to put a lifelong Democrat into the administration, in some way, I would far prefer Tulsi Gabbard.

That would be my stance to that particular issue.

Just God forbid, for the wives of the other people.

GLENN: Okay. All right.

STU: God, please.

GLENN: We all know he's a Kennedy. So we all know.

STU: But I will say, is -- I mean, I don't know, honestly.

To be honest about it. Really, really love Ron DeSantis.

Really think I would like him to do something more important than -- than --

GLENN: That's fine. Whatever. I'm just saying -- I'm just saying.

STU: I think his job right now is great.

And I could see him with higher office, certainly down the road.

GLENN: Right. And I would give him any job.

STU: I wouldn't want to pull him out of Florida.

GLENN: No, no, no, no. I said, his term is up in 2026. When you're done with governor, what do you want to run? And involve him. But he is -- when it comes to disasters -- that guy, excuse the expression -- is an ass kicker. He's amazing.

GLENN: And used to be, something we really prized that crossed partisan lines.

Just the general competence in times of stress, used to be the thing that -- I mean, I think that was one of the things that happened with Bush.

Where like, he was seen. And I think largely unfairly for botching the Katrina stuff.

And it was more damaging to him, not because liberals against him.

They were all calling him a terrorist the whole phylum they said he was responsible for 9/11.

Right?

GLENN: Yeah. And he hated black people. He was letting people die.

STU: That's right.

GLENN: I mean, if you want to make that case, we can make that case about white people. But I'm not going to.

STU: George Bush does not care about black people, if you remember that from Kanye West, who has quite a journey since that particular statement.

GLENN: Yes, he has.

STU: When the media loved him back then, when he was saying those things.

But what happened with Bush, with Katrina, and a couple of other things in that area of time.

Was that -- it felt like he was incompetent. And his own supporters and moderates.

Kind of independent voters.

Started to bail on him. Right?

And then, of course, the war going poorly. Sort of added on to that.

But that was -- a really central thing of what we expected and wanted out of politicians.

Just, you know, yeah. You have opinions. We may have opinions. You may not like those policies.

In those moments. Are you going to be the person who steps up and gets the job done? DeSantis has done that every single time. Every time.

GLENN: Every time. Every time.

I wish I would have snapped a picture of him. You know, he was holding a press conference.

And behind him were what appeared to be miles of utility trucks.

And he's like, we're ready.

Yeah. You are.

You are.

You know, and he believes in the tenth amendment.

Oh. Oh.

So the unions are going to shut down our ports.

Well, no. I'm the governor of Florida. And if the federal government won't do anything, I'm calling out our National Guard.

And we'll keep those ports open.

That's the reason they folded. They lost all of their power.

In negotiation. They lost all of it.

So it was -- thank you, Ron DeSantis for saving the country on that one.

STU: Can I ask you, Glenn, about -- and this is lower priority, than the stuff you have been talking about.

When it comes to your trip to North Carolina, yesterday in this whole region.

But there is a political concern here. Right?

We have an election that is a month away.

GLENN: I have to tell you.

May I tell you a quick story on this? A couple days ago, we rescued a woman who was up -- two women that were up on a mountain.

And they were flagging the helicopter. And we were taking somebody else to the hospital, I think. And so the other helicopter was called. And they came.

And they picked him up. They brought him down, from the mountain.

They were out of food and everything.

And one of the first things they said was, before we go back up, we need to vote.

Can you -- can you take us?

I mean, these people are pissed.

They are pissed.

If -- if North Carolina does not go hard for Trump. I would be shocked.

STU: Really?

GLENN: Oh, they're pissed. They are pissed.

STU: That's a big part of the reason I'm asking.

Because, you know, this is a key swing state.

I -- I think Donald Trump, if he doesn't win North Carolina. I don't think he could win.

GLENN: Yeah.

STU: I mean, there's a path. It's possible.

But I think it's super unlikely if he doesn't win North Carolina.

GLENN: I mean, the very, very cynical part of me. Which is almost all of me at this point.

Says, one of the reasons they're not helping there.

You've just taken out a swath of Trump supporters. Okay.

This is -- this is --

STU: Some have died.

But also some have -- totally --

GLENN: That's what I mean. You can't get two polls.

These people. They don't have cars. Their bridges are washed out.

It will be tough. But I'll tell you, I -- I met several people.

The old lady?

Who we rescued. She's like 80 years old.

She's fantastic.

And she didn't know who I was. Or who Cory Mills was.

We were just helping her get into the -- and as she's being put into the Life Flight, she's just this, damn Biden, he doesn't give a flying crap. And she was colorful.

And I thought, hmm. I think I know who she's voting for.

You know. And this used to be Democratic country.

STU: Oh, really?

Because I think of that part of it is seen as more red.

GLENN: You do now.

These were tobacco farmers. Okay?

And, you know, they don't have health care.

They don't. These are poor, poor people.

And so, you know, they've been for government assistance. Because they've needed government assistance.

But now they see what this government assistance really means. No. They're not interested.

This has turned people, at least in that area, I think this has made them generational Republicans.

STU: Just because of how bad this response has been.

GLENN: Everybody I -- everybody I talk to, was pissed at the federal government.

They were pissed.

I heard -- I can't tell you how many times I heard, yesterday.

Really.

How much money are they giving to these illegal immigrants?

And we've got nothing. No one is on the ground.

I'm telling you, I didn't see National Guard. I know the National Guard is there.

They've been there for four or five days.

But I didn't see any of them.

And I was in, really, some of the hardest hit areas.

I didn't -- there was no federal anything, except the satellite truck for FEMA.

Which wasn't working at the time, but they're going to -- they are where the people are. No, they weren't. They're out in the middle of nowhere.

Signing people up. So they can get their paperwork in. And start the system, to help chug along.

And there was -- they were helping one person.

It was despicable. Then there was another place, where FEMA was at another center, where they were -- they put up showers. So people could take showers.

Which I thought was really nice. Until they said, no. Not for the people.

But for the volunteers. So the volunteers could take showers. Not the people! Anybody could go and take a shower.

It was -- it's obscene! It's obscene!

When -- when Mercury One is the one that is providing all of the O2 for all of the ambulances and one of the hospitals, because they can't get it. When that's happening.

Excuse me, federal government, when there are people, literally, we're saving their lives.

Because we're providing insulin and life-saving drugs, that they can't. That nobody else has.

Government is not there, handing out these drugs.

I mean, you can go into the cities. You can go into homeless areas. You know, they'll hand you drugs there.

You know, lots of drugs.

You need heroin. They'll help you out on this.

But insulin. They're not there.

It is -- it is shameful.

I started telling you earlier today off the air.

I asked you. Do you remember the day I came in. When we were air vacking people out of Afghanistan? I should say, trying to.

We had an Air Force there, of 737s. And 747s on the ground in Iraq. Sorry, Afghanistan. And the State Department was blocking us. And then something happened that day, where they mocked us. They mocked us.

The State Department, we said, okay. It's been three days. We got all the paperwork. That you told us, we had to have. Everybody on paperwork.

Oh, no. You need form 117B. What is that form? It's a new form. Okay. Where do we get that form?

Well, you can only get it at the embassy in Afghanistan or Kabul.

You closed the embassy three days ago. Yeah. Well, how do we get that?

Well, it's just something you're going to have to figure out. Click.

I walked right on to your stage. And I was so mad. I said, I will renounce my citizenship, if this is who we are.

This is evil!

I was that close yesterday.

This country is so good, so good, the people are so good, and it's the government that has gone very dark.

They don't care!

I know we have the most compassionate politically correct people who just want the whole rainbow to come together.

They despise. They despise great swaths of people.

San Francisco goes down. And they need help.

You damn right, Mercury One will be down on the ground.

And we won't be saying, who did you vote for?

We will help them.

Appalachia goes down. We're all out of money.

Oh, my gosh.

You print money!

You print money!

I can't take it.

Glenn CALLS OUT FEMA After Visiting Hurricane Helene Victims

What's the truth about FEMA and Hurricane Helene? Is the government really confiscating aide for the victims? Are they really not helping at all? Glenn traveled to Asheville, North Carolina, to find out for himself. He tells the infuriating story of his conversation with the lone FEMA truck in the area: "FEMA is despicable!" Instead of helping people, Glenn says, they're just setting up more red tape ... after showing up a WEEK LATE!

Transcript

Below is a rush transcript that may contain errors

GLENN: So this -- this interview with -- this interview with FEMA. It was recorded.

It -- it doesn't make me look real good. Because I'm -- and we will release it today.

Because I'm just very quiet.

Because I really was just like, I don't -- don't. Don't.

Whatever it is you're thinking, Glenn, don't.

And we went up to them. And they were sitting does they were all in their FEMA vests.

And I had just been where people were moving water. Moving food.

Trying to help people. You know, like crazy stuff.

And so they -- so we went. And they were way off in this parking lot. All by themselves.

And sitting under the tree with some folding chairs.

But all dressed with the -- with the FEMA workers outfits.

And I said, hey. What are you guys doing here?

The guy said, well, we just got here last night.

And I said, oh, really?

He said, yeah, we couldn't really do anything when we got here last night. So today is really our first day. But, wow, it took us a lot longer to get here than we thought. And I'm thinking, yeah. Like seven days longer than you would have thought.

He said, it's hard to get here.

No crap. This is when I start shutting down.

After he starts saying, you know, it's really hard to get here. I'm like, you're FEMA. That should have been quite obvious to you.

And I said, so -- so what are you doing here?

And he said, well, as soon as we get the truck, you know, up and running.

And I noticed that the air-conditioning was running inside the truck, which was good for them.

He said, as soon as we get this all up and running. We're taking -- we're taking people's information, right now. So we can -- you know, that satellite up this, just beams all the information right to Washington. So we can get them registered, so they can get some aid.

And I just was thinking. Oh, good. Just what people need.

Red tape and paperwork. Yeah. Because we'll get that check right to them in their mailbox. They don't have any mailboxes!

But that wasn't the end of it. It got much, much worse.

FEMA is on the ground. In two places, that we saw.

That one, which is doing nothing.

And the other one, where they've just built some showers.

Not -- not for the people. But for the volunteers.

That are there to help. But overall, it was a really good day. I look for quality in my food.

As well as a good price.

When you buy meat, you don't want the imported stuff in the grocery store. And I always looked at the little flag. And thought, oh, good. I'm supporting American farmers and ranchers. That little flag is a government hoax.

That just means something happened to it, here in America, when it got off the ship.

It might have been wrapped. It might have been cut here. But that's it.

So it's not a product of America. I just want to point that out.

So if you really want to get the best American meat. You want to have it from America.

You want to help the ranchers and our farmers here in America.

Go to GoodRanchers.com.

Right now, they're having a presidential prominence.

For a limited time. You'll receive a free add-on for four years with any subscription.

Choose from plain chicken breast, Angus ground beef, applewood smoked bacon. Wild caught salmon.

It's $1,200 over the next four years.

100 percent American meat, through GoodRanchers.com. GoodRanchers.com. Make sure you use the promo code Beck.

STU: Head over to BlazeTV.com/Glenn.

Subscribe today. Use the code fight fight fight

And save 40 bucks off Blaze TV.
(music)
(OUT AT 8:29 AM)

GLENN: Congressman Cory Mills joins in us in. Half an hour. And if you don't know who this guy is, and you might not.

Because he's always busy doing things. I'll get a call from him. And he's like, yeah. I'm in the jungles of Vietnam. We think we know where the POWs are, and we're just going to get them out.

He's just everywhere. He's also a Congressman. He's running his campaign. His campaign people are freaking out. They're like, this is a close election, Cory.

And he's like, the people in my district are okay. They weren't hit by the hurricane. They're okay. I can't go to my maker and say, yeah. I could help these people.

You know, in another state. But I had a campaign to run.

He said, I can't do it. And so I told him, yesterday.

I don't know where I'm going to find time to do this. I said, let me go campaign for you.

Let me just do a speech for you or something, while you're up here.

Because I believe in this guy. This guy should shame every member of Congress. Should shame every member of Congress. The power of what one person can do, when coupled with other people, is absolutely amazing.

Don't ever count yourself out. As I can't do it. Do you realize this audience is playing a major role in a major historic disaster.

You are by giving to Mercury One. I can't tell you how many people I -- I met. And they were like, we couldn't have done it without your audience.

We cannot do it without you. You have no idea.

You know, all of the oxygen on every county ambulance now is provided by this audience. They ran -- they blew through all of their supply.

They weren't prepared for this. You know, nobody is prepared for something of this scale. And they were like, we're out of oxygen. We've got oxygen. We have pallets now of O2. That we flew in.

We're -- we're filling transport planes. When I left the airplane, one of our transport planes was flying down. I think to Florida, to pick up all their supplies.

And flying back overnight.

It's rational.

And FEMA is despicable.

I -- you know me, if you've listened to this program for very long.

I don't like to use the word treason.

I really don't. Because it's the only thing in the Constitution, that spells out, you know, the punishment.

And I don't like call people traitors.

And I won't today. But I will tell you, a case could be made that there are a lot of people that are bordering on the line of treason.

Our country is being dismantled. Our country is being torn apart.

FEMA has spent, let me see if I can get this exactly right.

I want to get this right.

FEMA has spent $1.4 billion, on immigrants. Illegals. Okay?

1.42 billion, on rehousing. Flying these illegals in, without your knowledge. We paid for all of it. 174.2 billion. Okay. And how much -- can I ask, how much -- it was $750?

And in Hawaii, they got $700.

So $700 in Hawaii. $750. But don't worry, that will be very helpful. They just lost everything.

It is -- it's embarrassing as a that I guess.

It is embarrassing.

By the way, the electric vehicle chargers, where they have put two? That's $7.5 billion.

The high-speed Internet, which didn't happen, we spent $42.45 billion.

The high speed internet thing, didn't happen. But they -- you know, they've got. Don't worry. On a surprisingly quiet hurricane season. They're out of money.

First of all, I would like to remind the government. No, you're not.

You print money, all the time. This is the one time where you're like, gosh, guys. If we print more money, man it will just cause inflation.

It will be really bad. Really, really bad. And besides, the printing presses are booked fort next month and a half. Because we're printing so much money for Iran and Ukraine. Out of money?

Huh.

You know, I don't remember voting to bring all these illegals in.

And house them. And feed them. And give billions of dollars through most likely, many corrupt NGOs.

That are wasting our money.

I don't remember that!

I don't remember voting, you know, we should do?

We should go to other countries, and find people who want to come here. And we'll just pay their way.

We'll find out who they are. And we'll say, come to America. Where do you want to go.

You want to go to Kansas City. They have the chiefs. It's great. You go to New York.

Some great little restaurants and bistros everywhere.

You will love it. And it's a free ticket. And then we'll set you up in a really nice hotel, or ones that used to be really nice, and free food.

Just because you're so oppressed. And $2,500, just because you're so oppressed. So oppressed.

I can't even take how oppressed you are.
So you get $2,500. And you get a free phone.

And you get a free phone. And you get a free phone.

And 750 dollars for these people who have been paying taxes, hard-working, regular people.

And you can't even fly a helicopter in, to get people off their roofs.

And you show up, a week late.

By the way, I want to thank president Biden for, you know, taking that aerial view in.

You know, he just didn't want to disrupt thinking. And he only stopped our rescue helicopters from rescuing people for four hours.

So that was great. Didn't piss the rescuers off, at all. At all.

So, anyway, FEMA is there.

And I said, so why are you guys here?

We took a van.

There was ten of us in this van. And we were going back to the -- the food distribution point. And, you know, everybody is looking out the windows. And seeing stuff.

And I said, whoa, whoa, whoa. Hold on. Turn around. You guys have seen the FEMA truck. Everybody: I didn't see the FEMA truck.

Yeah. It's tucked in this corner, behind this Michaels that is closed. So we went into the -- like cops everywhere. Food is on the other side, like a Lowe's, you know, garden shop.

And all the attention, when you drive in. All the attention is over there. Because people are going to get food. Because they don't have any food!

But behind the Michaels that's been closed.

And I think next to the Chuck E. Cheese.

Which was so busy. No, they were closed too!
Was under a tree. This FEMA truck.

And I said, so what are you guys doing here?

Well, we're -- we're getting everybody, you know, to sign up for the aid. Hmm. Okay. All right.

They're -- you know, the crowd is down there.

There's only one person that's at your table. Yeah. I know. But that's because we haven't really announced where we are yet.

I'm thinking, that's probably good. I said, what do you mean?

And he said, well, our fliers haven't arrived yet.

So we're waiting for our own fliers, that say, you know, FEMA is here.

And I'm like, oh, fliers. We didn't think of the flier thing. We just went, you know, to where everybody is. And we didn't need fliers. But I didn't say that. At this point, I was like, don't say anything at all. Don't say anything at all.

And he said, well, you know, we just have to be where the people are. And I said, that's good. And I'm thinking, that's not here. You know, when do you move there?

And I said, so -- so you're doing this with the fliers?

And he said, no. We also -- we're going to take the media. So radio, television, it will be everywhere.

And I thought, hmm. I don't see a lot of people, sitting down in their living rooms, because their living rooms have washed four blocks down the street, with their televisions in it, you know, maybe they have a little portable television that they just have to plug in.

Oh, no. They don't have any power. And I said, you know, they probably aren't watching TV.

He said, you know, but the word will get around.

Okay. All right. And he said, you know, there is an app. This is the greatest app.

This app will do everything.

And all they have to do is just download it on their phone.

And Cory said. Well, you know, they don't really have power to plug their phones in.

And he said, yeah. But a lot of people can just go to their cars. And plug their phones into the car to charge it.

And we pointed out to him. You mean the cars, like right. Turn around.

See that river?

See all the cars that are in the -- the creek now, that are destroyed?

You mean, they're sitting in those cars!

Because they no longer have cars!

That's -- that's what was happening in my head. I just said. Hmm.

Uh-huh. Uh-huh.

And he -- he said, but we have to be where the people are.

And I said, well, if the people don't come out.

He said, then, well, we go door to door. I said, that's good. Because they don't have doors.

And he said, well, that's above my pay grade. You know, it's the government. So I don't have that information.

Is there anybody here that does have this information?

Yeah, my boss. Where is your boss. Sitting at the table?

No. Uh-uh. In the air-conditioned truck right now.

She's in the air-conditioned truck.

Oh, good. Can you maybe go get your boss? Tell her, she'll have to come out here, where it's hot. But she can go right back into the air-conditioned truck, where she can get away from all these people.

And so she comes out.

And she was a delightful lady. And we said, when -- he didn't know when you start going door-to-door. And she looked at him and said, we don't go door to door.

You don't go door to door?

No. We're here. Where it's all happening.

GLENN: And I looked at Cory. And Cory looked at me like, it's not happening here. This is not where people are. I mean, if you want to be a little closer to where people are going, you should go where the food is.

Yeah. Well, we -- we were talking about that today.

Oh, okay.

Good. Good.

And the truck doesn't really work yet.

But we're still gathering information.

Because, oh, the relief that these people can get. Oh, it's -- it's really -- it's just amazing. Hmm I bet it is.

And then I just started to back away, from this -- oh, I don't even know, murder scene. It was just so ugly. And I started backing away. And Cory looked at me and just smiled. And he was like, thank you for your time. And he said, boy, I've never seen you so quiet.

And I was like, don't have anything nice to say, don't say anything at all. You don't want to know what I was thinking in my head. It was so offensive.

But that was the FEMA in action.