RADIOApril 27, 2022

How Japan’s possible FINANCIAL COLLAPSE could affect US

Japan has been in financial decline for a while now, but recently their situation has gotten much worse. Glenn details why our biggest ally in Asia may be on the brink of financial collapse, what it means for America’s own economy and financial stability, and how both the U.S. and Japan are facing an inflation ‘death spiral.’ It may be time to PREPARE FOR IMPACT.

Transcript

Below is a rush transcript that may contain errors

Glenn: All right. So, Stu, I need you to stay with me here. Because this is -- this is probably a story that no one is paying attention to. And I think it's really important. Japan said that they would be the first great reset full adaptor. Okay?

And that made me curious, a few months ago. When I found that out, hmm. Why?

Well, I now know why. They are in serious, serious financial straits. They have been for a while.

This is not a new problem. This has been going on, the decline of Japan, since the '90s.

Well, I read a story, what was it, Thursday or Friday?

That the Japanese yen, has fallen to its lowest level against the dollar, in more than 20 years.

This means, it takes more yen to buy a dollar. As of Friday, the 22nd, it was more than 125 yen to buy a dollar.

Normally, only people who are like trading in currencies, actually care about this.

But the why behind the crash, is why you need to care.

Okay?

Because it could very easily lead to the crash of our Treasury bonds. And let me explain. Treasury bonds. Our debt.

We issued Treasury bonds every time our government spends money. And we have trillions of these out. And nobody is buying them.

Okay? The days of us living high on the hog. And somebody will take this crap. Those days are over, okay?

The Japanese are the largest holder of US Treasury bonds in the world. They hold more than China. More than any European country.

More than any other entity, except the U.S. Federal Reserve.

Why does the U.S. Federal Reserve own so many treasury bonds? They never did that before.

They had to start doing it, because no one in the world would -- would raise their hand in auction and say, I'll take some of that American crap. Okay?

So no one was buying it. So the fed put trillions of dollars of our debt, and they bought that debt by printing money. Okay?

Japan is number two. Japan holds $2 trillion of our debt. Now, the story that I read, on Thursday or Friday, was that the prime minister had called Janet Yellen and called the president and said, we need a bailout. You have to help us out.

You have to shore up the yen, or we are done. Well, we didn't do that. We said, we can't do that. And there's a couple of reasons why we can't.

So with them being the largest holder, they've been -- they are -- they're playing a game here. It's a shell game. The whole world is on this shell game. They have $2 trillion in Treasuries, and they're forced to sell those bonds to shore up their currency. This would cause our fed to print more money, to put billions -- or, trillions into buying those bonds, which would now be on the market. So inflation could go to 20 percent.

That's the story you'll hear, if you pay attention to Bloomberg. But that's -- that's just a small part, of what is going on.

We know that Japan has the worst demographics in the world. It's the oldest population in the developed world.

3.4 retirees over the age of 55, for every one worker, under the age of 30. So that one worker, is expected to work, to support 3.4 people.

Nobody is entering the work force. If you're young, you're not going into the marketplace. The Japanese stopped having kids, after the Asian miracle ended in 99, and Japan's economy crashed. Remember the story, where they can't get guys to even be interested in sex. Consider this.

Toyota and Honda. The two best made. Best-selling brands in the world. Right?

Testaments to Japanese ingenuity and manufacturing.

Except, the Japanese demographics are so upside down, virtually no Hondas or Toyotas, are actually made in Japan, anymore.

More than a decade ago, both companies realized, they think, find any workers, and that's why they're here in the US. Indonesia, and the Philippines.

These companies were not alone. In the past 20 years, Japan has lost almost its entire manufacturing base.

Does any of this sound familiar?

Save a few technology sectors, like mother boards and micro chips. Everything else, is not made in Japan.

This means, their taxable income is gone. And as they move overseas, where labor is available. And cost is lower. Some of the profits flow over to Japan. But most of the revenue generated. Stays in countries are manufacturing is occurring. So they had to make up the shortfall. What do you do?

They had a plan. They started selling more and more Japanese bonds, to cover their deficits, between the massive welfare state and the tax base.

So they -- they just started selling bonds.

This is where we're at.

Japan has the -- the highest personal income taxes, in the G7. It also has the highest debt to GDP in the developed world.

Our debt to GDP is 130 percent. That's the highest we've seen, since World War II. Japan's debt to GDP is 253 percent.

Okay? That's double ours. So their economy was collapsing. They had to sell bonds. Then they got to the place we are. And they were like, nobody is buying our bonds.

So what did they do?

Now, remember, this just was stated by the Biden administration, as something that is coming our way. What they did, so the Coventry wouldn't collapse. They went and they sold Japanese bonds to investors in Japan, at 0 percent interest.

Now, why would a company take something where I'm not going to grow my money, and lock my money into a Japanese bond for ten years?

Why would you do that?

Because the government mandated it. If you were a retirement fund, you had anything to do with Japan, you were investing, you had to put a percentage into government bonds.

So they bought these government bonds, which allowed them to then print more yen, and then what did they do?

They took that money, and they bought our government bonds, which were returning about 2 percent interest to them.

Now, that 2 percent interest. Think of this. That's coming out of your pocket. So we're paying them interest on 2 trillion dollars in Treasuries. This is about $40 billion a year. So we're sending $40 billion -- and that's fine. That's a deal. We're buying turtle tunnels. I mean, you know, we need those things. But Japan's entire defense budget is $47 billion. So we are, in effect, funding 40 -- 40 billion of their 47 billion in defense. But then, we also provide about $10 billion a year in discounts for guns and ammunition and everything else. So we are paying 100 percent of their military. This isn't by accident. And it's not a bad deal, actually. Our government is more than happy to do that. Because, Japan is the most important strategic defense partner, when it comes to detaining China, or defending Taiwan. We have 55,000 U.S. troops stationed in Japan.

Japan is the only foreign country in the world, out of which the U.S. has permanently operated a U.S. carrier, battle group.

So back to the end being in free fall. To keep their bonds at zero percent and then make that arbitrage thing work. Japan has to continue to buy its own bonds.

But that's through quantitative easing, printing. So they print more Yen to buy their bonds. And any time the yield goes above zero, they're in trouble. They're creating artificial demand, for their bonds.

When they -- when the yield on the Japanese government bonds, went to 1 percent. 2 percent. Our ten-year bonds would not be able to service that debt. So our bonds, they no longer have the 40 billion dollars for their military, et cetera, et cetera. They have a debt of 253 percent. It would cost them -- it would cost them to pay interest on their debt, more than they would ever collect in taxes. So to pay the debt, they have to print currency, buy the bonds, buy ours. We buy theirs. And it just starts all over again. Because we have to print money. They have to print money. And so it goes into this inflation death spiral. And that's where they are right now. They are at the beginning of the inflation death spiral.

So here's the problem with all of this: If they collapse, I mean, really collapse. Who can bail them out?

We can't. We'll -- we're close to a death spiral. So who bails them out?

And what happens when next September, President Xi goes in front of his -- you know, people's Congress, and says, okay. Everybody vote. I am dictator for life!

When that happens, and Japan -- if Japan is out. We are so weak, with everything else that is going on, do you think we're going to save Taiwan? How would we even do that?

How would the West protect Australia?

By the way, all of this is happening, because the fed said, and the Treasury said, we can't bail you out.

But what you probably don't know, that we reported on, by about three months ago, the fed did bail the Bank of Japan out.

The fed gave them $7 trillion. That was in Q3 and Q4 of last year, we're in Q2.

$7 trillion, they burned through already. Prepare for impact. Prepare for impact. Because it is happening. The reason why they said, they would be number one on the -- on the boat for The Great Reset, is because if we say jump, they are forced to say, how high? But we no longer have enough juice to tell anyone to jump. Because we need all of that juice, ourselves.

I have a theory about Trump's nuclear testing…

President Trump recently ordered the Pentagon to resume nuclear testing after Vladimir Putin announced a new underwater nuclear device. Are we heading towards a potential nuclear war, or does Trump have another goal? Glenn Beck explains his theory: Trump just won this fight...

Transcript

Below is a rush transcript that may contain errors

GLENN: Well, President Trump said yesterday, truly great meeting with President Xi.

This is a the problem. So much is hyperbole is -- truly. Like everybody said that meeting couldn't happen. It happened. And they said couldn't be done. It was done.

I got up this morning. People said I couldn't open the door, and I opened the door. Okay? It was the greatest door opening I've ever seen.
But from all accounts, this was a really, really good meeting.

Let me just say this: He's getting ready to meet with Putin. And with what Putin has done in the last couple of days, and now everybody is upset.

Oh, my gosh. Donald Trump said he's going to start testing nuclear weapons again!

Yeah. Yeah.

You know why?

Well, China is testing them.

And Russia is testing them.

We've had a moratorium on that. And here's what he's really doing. If I -- if I heard the news. And I was in the Donald Trump White House, I would be -- I would have walked in, after I heard the news, especially yesterday.

That Vladimir Putin has a new nuclear missile, that he can shoot 6,000 miles away.

Underwater. And it can navigate, and then blow up like a hydrogen bomb under the water, just off the coast of California, which would create a radioactive tsunami. This is what I would tell the president. Congratulations, Mr. President. You've won.

Now, why would I say that?

Because Vladimir Putin is not going to do that.

He's not going to do that. It would make him the pariah of the entire world. You're not going to set off a nuclear, radioactive tsunami to cover Los Angeles.

Because here's -- if I'm the president, and maybe this would make me a very bad president. But if I'm the president. And I hear that he has just launched a nuclear missile, towards Los Angeles, my decision is: Do I stop it?

Yes, I do everything I can to try to stop the missile from hitting. Do I respond before it hits?

All unconventional wisdom is, you've got to launch now, Mr. President. You have to launch now!

Hmm. Now, maybe this makes me a very bad president. I don't know.

I think it probably does. But I would say, no.

I'm not launching. Let it hit. And then I'm going to say to the rest of the world, immediately after it hits, this man just bird Los Angeles, killed all of these people, by launching a missile, a hydrogen bomb, underwater. God only knows what it's done to the environment.

But here's what it's done to people. And here's what it's done to Los Angeles. I give the world an hour before I respond.

I don't want a nuclear war. Because we all know what that means.

But rest of the world, you need to condemn him, and he needs to go on trial for crimes against humanity.

Nothing -- nothing warrants that kind of abuse of nuclear weapons.

That's what I would do as the president. Because I know the rest of the world, would not be kind to anyone who launched a nuclear weapon at the West Coast.

Wouldn't. If we launched a nuclear weapon, you know, even if we blew up Israel, with a nuclear weapon, the world would be like, look at what America has just!

They've killed all these Jews. Wait a minute. I'm so confused right now, what I'm for and what I'm against. But they would still condemn it.

Nobody can get away with that. He knows. Putin knows, the president is the most concerned about nuclear weapons. So what does he do?
He describes two nuclear weapons he has.

He's pulling out all -- there's nowhere to go from there. What are you going to do next? I'm going to blow up the moon?

He's just used everything in his bag of tricks. There's no place bigger that he can go. Other than actually launching those things. Mr. President, Congratulations, you've just won. So that's what I think is happening with -- with what Donald Trump has done this week. And the way Putin is now reacting. And he's about to turn his sites on Putin and Ukraine.

So let's start and see what happens.

Decoding the Fed rate cut: What it means for you

The Federal Reserve has cut interest rates for the second time in the 2025 fiscal year. Glenn sifts through all the economic jargon and translates it into plain English to explain what this could mean for the average American.

Transcript

Below is a rush transcript that may contain errors

GLENN: Let me talk to you a little bit about the fed rate and what it means. Most people don't spend their evenings reading the Federal Reserve statements. And I don't blame them. Because I don't do it either.

It's like background noise from an alien planet.

The Fed has cut the rate by 25 basis points. I don't even what a basis is or a basis -- what the hell does that even mean? Why should I care about that?

Okay. Let me explain what it is, and why you should care. Because the Federal Reserve -- the quiet, most powerful group in the world has decided to cut rates. And that changes the rules of your financial life. From your mortgage to your job security. From the cost of groceries. To, you know, the health of your savings account.

What they did yesterday is not going to help your savings account. What they did yesterday, will help your job. Okay?

A little bit. Now, think of the Federal Reserve as hmm. I don't know.

The most corrupt bank -- I'm sorry. I mean, the central bank.

Think of it more like the mob that -- think of it like a very credible bank that you don't know who even owns it. Okay?

It is not part of the federal government. It's not a federal agency. That's a really important part. They don't print the money. Not directly. Okay? That's up to the Treasury.

But they control the flow of money, and if the economy slows down, this is what they say they do. Okay?

If the economy slows down or starts to break, the Fed tries to fix it by lowering the Federal Funds Rate.

That's the interest rates that the banks charge each other to borrow money overnight. And when that rate drops, supposedly, borrowing becomes cheaper for you! But does it?

Yes. But it takes time to get to you. When borrowing becomes cheaper, you can start a new business.

You can get a house. You can borrow more money.

And when people borrow more, they spend more. Which in theory, keeps jobs going. People are creating jobs. Businesses start to open up.

Et cetera, et cetera. That's the lever the Fed just pulled again. Twenty-five basis points. That means .25 percent.

It doesn't sound a lot -- like a lot. Especially if your credit card is at 21 percent. Or your car loan is at 8 percent. Or your mortgage is just choking you to death. But it is a small ripple that will go outward. And it may just be the beginning.

So if you own a home, and you have an adjustable mortgage, you'll see a slightly lower rate. Maybe -- maybe you'll save a couple hundred dollars every month. And that's nothing -- you know, that's not nothing. If you have credit card debt -- and this is my favorite part. If you have credit card debt, don't hold your breath. You're not going to see anything. Why?

Oh, because when they're raising the rates. Oh, those banks, they raise it right away. Oh, it costs us so much money to be able to borrow money. And you're going to borrow it from us, so we have to raise that rate right away, because it will cost us money. Once they lower the rate, they're not in any hurry.

They're like, you know what, let's slow down just a little bit. We don't need to lower that interest rate on the credit card, right away.

Remember I said, think of them as a Mafia -- as a really good bank. Okay?

Now, if you're shopping for a car or a small business loan, this could be your window. Because lending is going to get a little bit looser. When the money is flowing a little bit more.

Because the Fed lowers the interest rate. Then the lending gets a little looser. You can buy a car.

If you're retired or you're saving. You know, you have money, you know, in a CD or a savings account, think of this as a move from the Mafia. Your savings account will drop just a little bit. Because your savings. You'll earn less, your CDs, and everything else.

You'll earn less when the interest rates fall. Okay?

So in short, what this means yesterday, is it will help people who are borrowing money. But it will hurt people that are not savers. Now, it's not dramatic. But that's -- you know, going -- interest rate going down hurts people saving money, but helps people borrowing. Interest rates go up, it helps people who save money and hurts the people borrowing money. Okay?

So why is the fed doing this? Well, the president has been saying, can you do this, for quite some time. Because this is what spurs an economy. This is what spurs jobs being created. Because people can borrow money, and they can expand their business.

The reason why they said they did this yesterday is because, quote, the downside risk to employment has risen. What does that mean?

People are losing their jobs. That's what that means. Okay? I don't know why they just can't speak English. You know what, we have to do this because people are losing their jobs. Maybe we need to lower this down, so people can hire some more people. That's what they should say. Inflation, they said, is still somewhat elevated.

Okay. Let me translate again. We don't have -- we don't know our butt from our elbow on what we're doing with inflation.

We're out of magic tricks.

And we still have it tamed inflation. But it's getting better.

Okay. So they're trying to ease the pain of people getting fired or no job creation.

Without setting all of our money on fire.

This is the real trick and the real balance. And when I say setting our money fire. The lower the interest rates. What that means is, they're -- your money will be worth less.

Okay?

But here's the -- here's the bigger move that's buried in the fine print.

They're also stopping the shrinkage of their balance sheet. Love that.

We're just going to stop the shrinkage of our balance sheet.

Okay. What kind magic Fed Viagra are you using here to stop that shrinkage?

What it means is they're done pulling money out of the system. They're going to start adding money back in. More liquidity. More dollars that they throw in, the -- the more fuel.

And it's a soft rolling start from fighting inflation to fighting a slowdown. That's what this is.

Now, here's how it's going to hit you in the real world. If you're living paycheck to paycheck, this might feel like some relief in the short-term. Okay? Maybe your payments start to ease up.

Maybe if you're looking for a car. Maybe you get a little bit more bang for the buck. But this is just a small move in that direction. Maybe credit gets a little more available.

Maybe you can afford a little bit more of a better house.

But here's the hidden cost in the long-term.

Every rate cut makes your dollar worth a little less.

By the way, may I just side note here, Your Honor. I don't know why we accept the Fed saying, "We have a target of 2 percent inflation, every year. Two percent is -- that's our target."

Why shouldn't they be -- why shouldn't they be targeting zero percent inflation? Why do we accept that?

You know what that means? That means 2 percent, two cents on every dollar goes away every year.

I don't know. After ten years, that adds up. Why do we accept that? Because they say it in a way, nobody understands!

And so nobody pays attention. So the prices at the store, they don't fall with things like that. They usually rise.

The assets of the rich, the stock, real estate, they start to inflate again. The working class, once more, will pay for the cure. With the value of their labor. And, but this is how the cycle works. Okay?

When things tighten, the powerful scream louder than the average person, and the Fed listens. They open the money spigot. The markets rally, and the average American gets another inflation hangover at some point. Hopefully, it won't happen, at least right away.

Hopefully, we will balance things out. Because Donald Trump, with what he did in Asia yesterday, there's a huge -- there's a lot of money coming in. And he has reshaped the Western world. This guy is not going to be appreciated for -- if J.D. Vance wins. And just assuming it's going to be J.D. Vance and Marco Rubio as the president.

But if they win, after his first term, and maybe into the second term, if he's given a chance for the second term, that's when you're going to really see everything that Donald Trump is doing right now. You're going to see the effects. And you're going to realize, holy cow. I thought that guy made a huge difference at the time.

Look at what he did. He is a long-time. Long-term player.

He's looking way over the horizon. And this week in Asia was a big, big deal. So let me get back to the Fed rate.

Here's what you need to do. You need to first understand the game. This is not a bailout for you. It's a pressure valve on the system. Okay?

If you have debt, this is a signal, that you can make pay it down fast enough, while the interest rates are starting to ease. Same with our government. Interest rates are going down, don't borrow more money, spend less money. And pay things off faster.

If you have savings, look for hard assets, things that will hold their value. Real estate. Blah, blah.

If you're in business, this might be the window to shore up your position.

Don't overextend yourself. Things are still tenuous. Because this is a pivot.

This is a -- a swingback to cheap money. Hopefully not 0 percent again. But the Fed believes that the storm isn't over. And they're right.

It's not. We're in a very precarious situation between employment and runaway inflation. Now, Javier Milei has tamed this thing. And luckily, Donald Trump and Javier Milei get along, and I hope we take a few more things from Argentina.

But the Fed, almost against their own will, is trying to steer us out of a slowdown. But if we're not careful, it will set us up for another round of inflation. But the pivot point is here from the Fed, and every time they pull that lever, remember, it's -- it's you and your dollar that ends up footing the bill. One paycheck, one grocery bill, one devalued dollar at a time.

But right now, it is important for it to happen, so we balance the losing of jobs, maybe some more job creation is coming our way.

We've lost a lot of jobs just in the last week. Because of AI. And I don't know -- did we talk about this yesterday? I'm not sure we did. This week, there's been two. It's been UPS and Amazon, that have cut, what? About 100,000 jobs between the two of them. That's a lot of jobs.

But notice, it's not the guy on the front line. It's not the guy at the dock. Right now, it seems to be the white-collar worker. So the guy who didn't go to college right now, right now, is more safe than the one who did go to college and is trying to pay off all of that stuff. They're being replaced by AI before the dock worker is.

So if you didn't go to college, now is the time to go, suckers!

Because you don't to have worry about all the things that the people that are still paying for that they can no longer use.

Why this Deep State spy campaign is the WORST scandal of my lifetime

According to the records released now by Sen. Chuck Grassley (R-IA) and the House Judiciary Committee, The Biden era DOJ and special counsel Jack Smith drove an investigation that sprayed subpoenas like a firehose. There were 197 subpoenas sent to 34 people, over 160 businesses, and vacuumed up communications tied to more than 400 Republican individuals and entities. Fox News, Turning Point USA, OAN, all engulfed in what has been called "Operation Arctic Frost." And all this was predicated on NEWS CLIPS?! Glenn explains why this Arctic Frost is MUCH worse than Watergate.

Transcript

Below is a rush transcript that may contain errors

GLENN: While we're talking about winter, let's talk about Arctic Frost. That's the code name. And according to -- according to the records released now by senator chuck Grassley and the -- and the House Judiciary Committee. The Biden era DOJ and Special Counsel Jack Smith drove an investigation that sprayed subpoenas like a firehose. We now know, there were 197 subpoenas, spanning more than 1700 pages. Sent to 34 people. One hundred sixty-three businesses, and then vacuumed up communications, tied to more than 400 Republican individuals and entities.

Okay? That's reaching into everything. They reached into media companies. CBS, Fox, Fox Business, NewsMax, Sinclair, into financial institutions, into political organizations.

Even members, employees, and agents of the legislative branch. So now you have congressmen and senators being vacuumed up into this whole thing.

This is not a precision rifle shot. This is a net and a very big dragnet.

Okay? This is not the way justice in America works. You do not go after, you know, an entire party, 400 people? Now, what were they looking for? How did it start?

Well, let me say, the opening memo to justify Arctic Frost is to call -- does in legal terms, it would be called the predicate.

And it was stamped sensitive investigative matter, okay?

And it's cited. And I love this. Listen to this language. It's cited, evidence suggest a conspiracy around alternate electors.

I'll get to that here in just a second. But it -- it relied on -- leaned on news clips. News clips!

To vacuum all these people up, to get the -- to get the engine turning. News clips were used.

Suggesting, not proving. Suggesting, and it just rose up the ladder.

Ray, Garland, Monaco, even coordination with the White House counsel's office. It surfaces now in the record. This went all the way to the top.

This is not my language. This is what the documents now on the table imply.

Okay? Now, let me just pause for a minute, in the reading room of American memory. What is this all about?

Alternate electors. That's not a Martian invention. Okay?

That's not something completely foreign. We've seen it before. 1876, and 1960. They were messy. Contested. Deeply political moments that produced zero criminal prosecutions for their existence of rival slaves.

In fact, Al Gore, if he didn't set an alternate slate of electors, he was counseled, and I've talked to Dershowitz about this.

He said, they're counseled to have an alternate set of electors. Because once -- if you don't do that, and the tables turn and you're like, you know what, there was a problem -- if you haven't ceded those electors before a certain time, you have no case. You can't change anything. So it has to happen. And it has happened two times before, I think three, but definitely in 1876 and 1960.
In Hawaii, in 1916, Democrats signed certificates while a recount was still underway. The recount flipped. So it was ultimately certified. The democratic slate was certified. Ugly? Yes. But that's the way it worked.

It's not criminal. And history has said no. It's not criminal.

But it doesn't matter, when it's about Donald Trump. So let me go back to Arctic Frost thousand. As the subpoenas flew, the FBI reportedly snooped phone records of Republican members of Congress!

The scope widened to donor analytics. Broad financial data. Trump world advisers.

The lawyers. The media contacts. We said, during January 6, we said, internally, if you don't think they are going after a massive tree, because remember, this is -- this is what the Patriot Act allows you to do now.

You go after one person. If anybody is calling somebody else, well, that person now can be Hoovered up. And who has that person called?

So you can get pretty much everybody that you want, with one subpoena.

But that's not where they stop. They didn't stop with one subpoena. Okay?

When the state casts a dragnet over the opposition's political ecosystem with the authority to seize all their communications, compel testimony, and chill the donors, that's not tough politics.

Okay?

That is the government, with badges and grand juries, leaning its full weight into one side of the national scale.

Watergate. Please!

Watergate. Let me compare Watergate. You know what Watergate was?

Watergate was a gang of political operatives who broke into an office to get information. They weren't even. They weren't even losing the election. Nobody even knows why they would even do this. It is so stupid that they would even do this. But it was a local office. They broke in. They wanted to get some information that was there, you know, on the -- on the candidate and on the race.

And then they covered it up.

And they tried to keep the public from the truth.

It was wrong!

It was criminal.

And it forced a president to resign. And people went to prison over it. But Watergate was a private burglary, executed by a campaign, and covered up. By the White House.

Terrible!

Awful.

That's not the DOJ blanketing the opposing party's entire world, with federal subpoenas while citing news hits as the predicate.

Do you see the difference?

Watergate was an attempt to weaponize a campaign. Arctic Frost, if the emerging records hold, was the attempt to weaponize the entire state against a political party.

The difference there is the whole ball game. Under a constitutional republic.

You don't have a constitutional republic, if that's allowed to happen.

In America, the state is supposed to be the neutral referee. Not a sideline enforcer wearing one team's colors under the stripes.

And don't even start with me on, well, what about Donald Trump?

We'll play that game all day long. And you know where that gets us?

Nowhere. You want to make a charge against Donald Trump and what he's doing.

Good. Let's take that separately.

Let's do that. I'm willing to. Let's take that separately. Let's deal with this one, first. Okay? The moment the referee picks up the ball and starts running, the game is over!

It's not a fair game anymore. And if it can be done to them, today. It will be done to you, tomorrow.

That's not a slogan. That's a law of political gravity.

Yeah. But Trump did -- okay. Let's have that conversation.

But can we at least have it honestly?

Because if you think this is about, whataboutism. You believe so see the nose on the front of your face.

You're completely missing this.

You cannot make a weaponization of a government, a partisan inheritance that each side can claim when it holds power.

If any president, any prosecutor red, or blue, uses federal power to criminalize political opposition, rather than prosecute clear crimes.

It is an offense gets an equal protection under the law. So let's -- let's lay down a standard here, that I'm willing to apply to Donald Trump and to Joe Biden and any other president that comes our way. Because if we don't lay this clear standard down, we're done.

The predicate. Predication. It has to be real. Not rhetorical.

Evidence suggesting via TV interviews, is circular sourcing, at its best.

It's not something that you launch a sprawling investigation on into a presidential rival's universe. If you can't articulate the crime, specifically, you don't get to launch a dragnet on the people that are running against you!

The scope has to be narrow, and tied exactly to the alleged crime!

Not a sweep through media organizations, and donor records, and opposition infrastructure, under vague theories, that come from TV reports!

Journalism.

Political advocacy.

Fundraising.

All of those things are protected activities. Separation from the White House, also must be unmistakable. If the White House Counsel's office is coordinating device transfers into an investigation of its chief political rival, alarms should clang in every corridor of every main justice call hall.

Everywhere! The alarm -- the Claxton should be going off right now. Also, historic practice matters!

If prior episodes -- by the way, this was all thrown out by the Supreme Court. So you know. Okay? Nothing there.

If prior episodes, 1876, 1960, and I believe 2000. If they were treated as political, not criminal, especially where alternate electors were explicitly conditional, then you need compelling new legal theories and clean facts to criminalize it now.

You can't just say, yeah, well, history, never did anything about it before. And, actually, they said it was fine.

But now, now it's going to be a crime.

Wait. Can you be specific on what has changed? Well, we really just liked the people that are doing it this time. That doesn't count. That doesn't count.

Now, before anybody clips this monologue and screams, so Glenn Beck said, nobody -- the Trump administration did anything wrong. Well, I don't think so.

But that's not what I'm saying, because I'm not the judge. I'm not your juror. I'm the guy insisting that the rules are rules, and they should be applied to everyone on all sides.

Smith has his report. He says, he wants to tell his side. Great! Put him under oath. If he didn't do it, then he should be set free.

But it should be on a clear set of laws! What's happened in the Biden administration, they just kept changing laws. Well, yeah. I mean, the bank said there was no crime. But Donald Trump. And so all of a sudden, there was a crime.

Nobody has ever been prosecuted. Ever before that. Even the bank said, this is ridiculous.

There's no crime here.

It didn't matter.

That's not justice.

I want real justice. Smith says he has a side, let's hear it. Bring forward the memos. Publish the predicate. Let the country see where weather we had a criminal case or an election cycle dragnet. Because that's what it looks like. If the emerging picture looks like, if the Arctic Frost opened up on thin evidence, escalated on political pressure, and metastasized into a government-wide sweep of the sitting president's chief rival and his entire ecosystem, then this is not just like Watergate. This is much, much, much worse than Watergate. In kind.

Not just degree.

Watergate tried to steal the information. That's it. They potentially attempted to steal legitimacy to criminalize opposition by wielding the sword of the state.

That violates, you know, more than statutes. That violates our creed, that free men govern themselves by consent, and the process is sacred. And the law is the wall that even presidents and prosecutors can never climb over. If proven, the remedy is not a sternly, terse letter, or an op-ed, and a shrug.

The remedy is the full force of the law. Inspector general referrals. Special counsels where appropriate, prosecution where crimes are clear. Statutory reforms to bar this from ever happening again from -- from press clippings?

Being your predicate? Bright lines need to be drawn. Protections for the press, for donors, and legislators in political cases. Sunlight. All the sunlight on how this began, who approved it, and why no one in the administration said stop.

And to my friends saying, well, Trump is doing the same thing. I hear you. I don't agree with you, but I hear you. Why don't we codify the guardrails right now?

So when emotions are high and temptations are strong, the republic doesn't survive by trusting that our guys will be angels. It survives on the chains on power. Everyone's power.

You know, when I hold a founding sermon in your hand, when you read the ink of Washington scratched in the margin notes of James Madison. You discover that America's miracle wasn't that we selected saints. It's that we built a system where even the sinners are fenced in by law.

That's the process. When justice is blind, to banners and bumper stickers and political parties, that's when America is America. Arctic Frost. If the record stands, it took a blowtorch to that fence.

So the choice is really simple. Retreat into teams. Each side cheering for its prosecutors. And its dragnet. Or you can do the harder, nobler thing, just like our founders did. And insist that the same rules that bind all power, especially when it's aimed at people that we dislike, are enforced. That's how you keep a republic.

That's how you make sure that there's not a second Watergate. Because we learned the lesson the first time. But it we?

Because if we haven't. If we don't learn it this time, and by God, we are done!

The story of America is not a story of who got whom. It's a story of the people who refuse to let the government become a weapon. And if that spirit still lives in us, then this cold wind called Arctic Frost will pass. And the Constitution will withstand. Because you stood for equal justice. For due process. For truth. That doesn't bend to politics.

And that, that is how we relight the torch of America!

Disease-Infested Monkeys LOOSE in Mississippi?!

A truck carrying 21 'aggressive' monkey's allegedly infected with contagious diseases such as COVID-19, herpes, and Hepatitis C crashed in Mississppi, causing the monkey's to be let loose. While most of the threat was taken care of, one monkey is reported to still be on the loose. This sounds eerily similar to the beginning of an outbreak movie...

Transcript

Below is a rush transcript that may contain errors

GLENN: Big thing some good news. Let's start with some good news.

President Trump has just -- is touring Asia and making all kinds of deals.

Donald Trump is single-handedly reshaping the earth!

He really is. He is reshaping everything. Single-handedly.

STU: Big job.

GLENN: I know. He's done more than The Great Reset did with all of that money. All of the campaigns. Everything that they were doing.

Listen to this. What he's just done. Signed a framework agreement, August 28th, between Trump and the Japanese Prime Minister, mutual stockpiling of rare-earth elements, REEs. Okay?

To ensure supply security. That's Japan. Cooperation with international partners, US allies, to shield the supply chain from disruptions.

The goal is to reduce China's 90 percent control over the global rare earth minerals.

For tech, EVs, defense, and AI. Okay. They have a 90 percent stranglehold.

So that's what he did in Japan. Now, also bundle that with the 550 billion dollar strategic investment from Japan, in the US. Including a 490 billion-dollar launch phase. 200 billion for nuclear AI and energy projects, small modular reactors with Westinghouse and Mitsubishi, and supply chain boosts in critical minerals.

Trump tied that to the tariffs. Japan got an auto import tariff slashed from '27 to 15 percent in exchange for the investments. In two weeks in the last two weeks, listen to what he has done. He has made multiple pacts with allies. Australia, critical minerals framework, mining processing, and rare earth mineral recycling scrap. Then in Japan, I just told you, Malaysia, he just did a memo of understanding on critical mineral diversification. In Ukraine, a ten-year access to titanium and rare earth minerals.

In Thailand, an MOU on rare earth mineral supply. Add that to what else he has done. He is -- he is outflanking China. He is trying to break the back of China! He is friend shoring, is what he's actually doing.

He is -- he is putting all of this emphasis on rare earth minerals. He's cutting Asia away from China.

He's cutting Europe away from China. He's cutting South America away from China. He has moved all of the resources of rare earth minerals to us. Anything outside of China, is coming our way now!

That is massive! Massive! We were sitting ducks with rare earth minerals, six months ago, a year ago. Total sitting ducks! They had everything coming their way. We were not doing any kind of -- any kind of strategic thinking on this, at all!

And this isn't piecemeal. This is operation warp speed for rare earth minerals. He is -- the guy is so ahead of everyone else. He is reshaping global trade and permanently, hopefully, sidelining China.

So we are never having to put our hand out to China.

It's remarkable, what is happening. Just remarkable! Now, let me give you another story.

A truck halling 21 monkeys to a testing facility in Florida, overturned in Mississippi.
(laughter)

STU: How did -- how did we make this jump? Has he signed a memorandum of understanding with the monkeys?

GLENN: Nope. Nope. They're still negotiating. According to the Jasper county sheriff's office, the accident occurred on Interstate 59, near the 117 mile-marker just north of Heidelberg. Six recess monkeys from Tulane University escaped. Officials said, five of the six that escaped have now been destroyed.

We've been in contact with an animal disposal company to help handle the situation. The Mississippi Department of Wildlife Fisheries and Parks and I guess now monkeys is still looking for one diseased monkey, still on the loose.

STU: A hundred percent, the beginning of an outbreak movie. That's exactly how it happens. The one gets away. Oh, we've got five of the six. What's the big deal?

GLENN: What was the one. What was the movie with -- oh. What's his name?

Tommy -- remember, he was the escaped convict. He was the doctor, and they were hauling him. He was the doctor from Ohio.

Based on a true story. And he -- they're hauling him. And he escapes. He has to try to prove himself innocent. Remember?

STU: Fugitive?

GLENN: Fugitive. Yeah. That's right.

STU: I was looking for a deep cut there.

GLENN: Fugitive. Sorry, I couldn't remember. It's a fugitive, and outbreak. That's what this is.

STU: That would be a good movie. I wouldn't want this in real life.

GLENN: I prefer a lot of this to not happen in real life.

STU: What are the diseases? We have help C going on?

We have COVID. I think there's three of them. Help C. COVID. And what was the other one? Herpes.

What happens if we combine all three into one monkey, and then release it into the wild?

What could possibly go wrong?

GLENN: Let me tell you something.

You know, we are in real trouble. I mean, I hate to bring this up too. Okay. Did you need diseased monkeys on the loose today from me?

No. No. Can I make it worse?

Absolutely, I can make this worse.

You know when we have the COVID thing. And we were all like, we shouldn't have these labs everywhere, you know.

STU: Oh. Like the labs.

GLENN: Yeah.

STU: Gain-of-function research, and things like that.

GLENN: Yeah. Yeah. Yeah.

We've built hundreds of new labs now. Hundreds of new labs. There are more than 35 hundred BSL3 and over 110BSL4. Bio safety level four laboratories. And all of them are now working on pathogens that could kill all of us.

So a 2025 journal of public health study reveals over90 percent of the countries that operate these labs have no oversight whatsoever!

STU: All of them are working on diseases that can kill us all?

GLENN: Uh-huh.

STU: There's not one that is doing yogurt flavors or something?

There's not one.

GLENN: No. There's not. There's not one. I wish there were!

You know, they keep saying, these are shields from -- no. These are match sticks. That's what these labs are. These are giant match sticks.

And we're sitting in a bunch of kindling -- they're -- they say they're developing vaccines. But what they're really doing is enhancing the viruses. Which, when I say enhancing, what that really means, they're weaponizing viruses. So don't worry. You know, it's just gain of function, which translated is, loss of sanity.

STU: I mean, because the research makes me very nervous. I mean, the fact that we have more labs that have higher safety standards. In theory, should be -- that was one of the problems with the COVID outbreak. Right?

They were doing research that should have been done at a BSL4. BSL1 and BSL2.

So, I mean, having more fours, that could be good, right?

GLENN: Eh. Did you see the BSL4 in China? In Wuhan?

STU: Well, I think that was the issue, it wasn't a BSL4.

GLENN: I think they called it a BSL4, and then it wasn't one.

STU: I don't think it was. Do we have a BSL4 for monkey research? I think really --

GLENN: I'm not really sure -- I know Georgia.

STU: Don't transfer it. Keep it in one place. You don't need to transfer them anywhere.

GLENN: In Atlanta, they're doing -- they're building another 150,000 square feet of a BSL4 in -- in Atlanta. So that's the place, oh, yeah, where all the zombies will be. Can I just tell you a quick little story? 1979. Soviet Union.

You know, they're trying to maintain this BSL4. They're not very good at it. Because, you know, they're not good at anything in 1979 in Russia.

STU: Except for nuclear power.

GLENN: Exactly right.

Okay. So there was a cloud released from this bio safety level lab four.

No flames. No alarms. Just a faint, invisible mist. It's kind of like hmm, my teenage son's farts. It's invisible, and it's deadly.

STU: Okay. Hmm.

GLENN: And it was carrying anthrax spores, okay? From the weapons lab.

Well, people began to die, clearly. We don't know how many. They think hundreds. Entire families suffocated because the bacteria devoured their lungs. And they were like, I have no lung!

GLENN: Okay. And the Kremlin was like, not happening. What do you say?

People were eating tainted meat. That's what's happening.

And it's eating their lungs.

STU: They Chernobyled it.

GLENN: Yeah. Okay.

So for a decade, nobody really knew what was going on, until the fall of the Soviet Union, and then people were going in. And they were like, oh! Here's what happened.

In one of these bio safety labs, a technician failed to replace an air filter properly.
And that was -- that -- just that allowed this microscopic storm of death to be released into the air.

I don't know! I mean, if your air filter not being installed properly can kill a bunch of people. And only tainted meat. McDonald's. I don't know. I don't -- I don't really think that we should -- we have them all over. 149 nations have them now.

149.

STU: There's definitely not 149 nations that should have stuff like that.

GLENN: You don't think so?

STU: No. I don't even think I can name 149 nations.

GLENN: Try this one. In India, the labs now are experimenting with the Crimean Congo viruses. Fatality rate of 75 percent.

In Russia, under its sanitary shield initiative, they are building 15 new BSL4 sites. In Brazil, Project Orion, a high-containment complex integrated with its particle accelerator.

Oh. And as I said, Atlanta, 160,000 square feet.

Apparently, we don't have enough room for all the monkeys that we're releasing in all the wild. And eventually, we'll find. And put them in there.
And torture them. Or do whatever it is we do. No international body tracks or regulates what's happening in any of these fortresses. What the hell is wrong with us?

STU: We should note an international body does not necessarily solve the problem.

I mean, as we've seen -- when they do monitor it, they usually import people to rape the citizens around the facilities.

GLENN: Exactly right. But you know what I'm really sick of it? There's no international body that does anything, except just let these people put really bad things into our body!

STU: Hmm.

GLENN: Can we -- can we stop with this?

STU: We're good with this on our own. Put all sorts of things in my body. That should not have been in there.

We're good at doing that.

As Americans, on our own. We don't need your help.

GLENN: I really -- just stop.

The arrogance. The arrogance of these -- hey, you know what, we need to fiddle with some more viruses. And let's make a digital God that we can't control!

What the hell is wrong with us?

STU: Especially when the digital God that we can't control can make new viruses.

GLENN: Exactly right! Exactly right.

STU: Yeah.

GLENN: And maybe -- maybe -- maybe what we do, is we put it into a self-driving car. And it directs. And monkeys just start flying out of everyone ever seen butt.