RADIOApril 19, 2024

Bitcoin Halving EXPLAINED: Will This One Be DIFFERENT?

The Bitcoin halving is here, but what is this event and will it be different from previous ones? Glenn and Stu explain what a Bitcoin halving is, what usually happens, and why some believe there won’t be a spike in Bitcoin value this time around. But are they right? Or is it still a good time to buy?

Transcript

Below is a rush transcript that may contain errors

GLENN: Hey, today is Bitcoin. What they call the havoc. Right?

STU: Happy havoc day, to those who celebrate. Yes. Ten hours away from now, it looks like.

GLENN: It sounds like something that would maybe happen, in -- what was that?

That film happened in Norway. It was like that summer festival.

It's like the halving, and they're all gathered in some beautiful place.

STU: Yes. What was that movie?

What was that? It was very -- it was one I wouldn't watch.

GLENN: It was creepy.

It could have been called the Halving.

Or, you know, When Magic Goes Bad. David Copperfield stars in the Halving. Now, I have to cut this woman in half. And he can't put her back. Maybe I don't --

STU: That would be a good plot. That's not what the halving is for Bitcoin though.

GLENN: Yeah.

STU: And you've seen the price go up. There's been various reasons for that over the past year.

The ETFs. Meaning a lot of money is flowing into Bitcoin for the first time, really. That is a big catalyst of it.

The other is the halving, which happens, what? Every four years.

You don't know exactly what will happen. As they get closer and closer, they can specify.

And it will be today, at some point. About ten hours from now.

GLENN: And what does it mean exactly?

STU: Basically, when Bitcoin started. You have to have miners with, who are going to mine the Bitcoin to kind of bring it into availability for everybody.

GLENN: And you knew this would involve minors.

STU: No, it's not like Jeffrey Epstein. Think of a coal miner, except digitally.

GLENN: Different kind of miner. Okay. All right. What are they wearing? Are they wearing pants?

STU: That's not important. That's not important. By the way, Bitcoin miners know they're not wearing pants. They're in their underwear in their mother's basement. At least that's how it started. It was people in their underwear in their mom's basement, basically. And they were mining tons and tons of Bitcoin.

Now, remember, Bitcoin, there will only ever be 21 million of them. They are sort of -- think of them being mined. They are slowly mined, this time, I think we've mined, 2140. I don't know. It's a long way. But the basic idea with the halving, is every four years the reward for the miners gets cut in half. So the reason that's important, is the supply shrinks.

So maybe, you go back years and years and years. There's tons and tons of Bitcoin going on. Getting mined every single day.

Now, that number gets cut in half.

It was like each block, which is about every ten minutes.

Each one of those, it was six Bitcoin. Were freed into the world.

Like released into the world.

Now it's like three. It shrinks every four years. 1.75. 1.5. Or 1.25. It's not exact numbers.

GLENN: Until it gets to zero and there's no more Bitcoin left.

STU: And that's at 21 million Bitcoin. So you are now at -- I think it's six to three, roughly, in this particular halving. And the other part about the halving that has been important to note, is every time, there has been one, over the next six months, there has been a massive increase in the prophesy Bitcoin. Now, will this happen this time? No one knows. Past performance is not indicative of future results, we all know the disclaimer.

GLENN: We really do know that disclaimer. You may not know that disclaimer, but we do.
STU: Yes. Very true.

GLENN: The views of Stu are not necessarily those of the host.

STU: This is not financial advice.

Past performance is not indicative of future results. We don't know. We have also had a very large rise over the past year. So some people theorized, it's already built in.

Right?

This time, the rise we've already had, is basically part of what the halving would bring. However, when you look at the charts over the past three or four or five halvings. We've had massive increases. All those times, where all of a sudden, everyone around you, was talking about Bitcoin. Almost all those periods happened between six months.

Three to nine months after a halving.

GLENN: After. Not before.

STU: Well, you've seen some rises before. Generally, speaking, the real pop has happened after.

GLENN: This has been a real pop. This brought us back to where it was.

STU: There's a reason to believe, there's more here. Again, the last one was in 2020. Do you remember the 2021 phenomenon?

Then you had a drop back down. We are now down back to where we were, 2021.

GLENN: Making a case that somebody should buy, just a fraction of Bitcoin.

STU: Okay.

GLENN: I mean, you know, when it first started, and everybody was on board. Everybody was buying Bitcoin.

Because it was like, I have three Bitcoin. You know.

STU: Yep.

GLENN: And now, most people cannot afford to buy -- no.

STU: Of course not. Let me put it this way.

Right now, you would say, Bitcoin, $60,000. Basically, it's only for a millionaire.

Someone who wants tons of money, who will throw into a Bitcoin.

You might say only millionaires can afford that.

You might say something like that. Think of it this way, there are 24.5 million millionaires just in the United States.

GLENN: 24.5 million millionaires.

STU: Yes. Right. Right now, there will never be enough Bitcoin for every millionaire in the United States to own one. That doesn't include millionaires around the world. There are already too many millionaires for just millionaires to get one of these things.

GLENN: How much of it do you think is lost? Permanently, forever, lost.

STU: Permanently. Like, for example, we know the Satoshi's account. Which, the guy who invented Bitcoin. We don't know who it is. Group of people. Or if he's dead. I think they're dead. That's my opinion. He has an account with 1 million of it, in it, that's never moved.

So we basically know, unless this guy reveals himself somehow in the future. Which is not likely, that a million of them are lost. We also know, early on, people were mining these things and getting thousands and tens of thousands of them. And just losing -- turning their computer off. And not thinking they were worth anything.

The estimates are that probably something like a third of them are lost forever. So instead of 21 million, maybe it's 14 million. Maybe it's 15 million.

Somewhere in that vicinity. Now that they're valuable, people are not losing them, of course. At least as often. It's still happening every day.

People screw it up. They lose it.

They send it to the wrong account. That stuff still happens. But you're probably talking about, let's say 15 million, that actually will exist.

You have 24.5 millionaires in the United States. In the world, you have about 60 million millionaires. So if you split up all the Bitcoin in the world, just among millionaires, they can only get a quarter of one each.

Now, if you can put some in there. The idea that these things will go down in value.

Over the very long-term. To me, is unlikely.

And part of that is, at the beginning of this, nobody knew. Right?

Like when I first invested in Bitcoin. And I don't have a lot of money in Bitcoin. But when I first started in Bitcoin. My thought was, I'm going to throw some money in this, let's see what happens.

I have absolutely no idea.

My thought was, there's a good chance. I said this to you, at the time. There's a good chance it goes to zero. It was a total gamble. I had no idea.

I liked the concept of money that can't be inflated and printed. Right?

I like that concept. That's why I was interested in it.

But, I mean, how many multi-trillion dollar industries can you remember going to zero?

I mean, is there any example of this?

GLENN: White star line. This has I don't think they were worth trillions. Right?

Enron was a big company, right?

Don't remember it being worth trillions. Bitcoin's market cap is over a trillion dollars.

GLENN: No. I can't see it going to zero. Unless all the central banks in the world say, not --

STU: It's so resistant to that right now. Though.

GLENN: I know.

STU: We're seeing countries open up. And start accepting it. You know, the United States of America, has now accepted Bitcoin ETFs. That's a huge embrace of this technology.

And look, I don't know. I can't tell you, it won't go down in the future. I would be surprised if it never goes down below these levels again. It probably will.

So you might buy today. And at some point, be down.

A lot of people bought in 2021. And thought, oh, my gosh, I've lost all my money.

Except, now pretty much every person who has ever bought Bitcoin in its history, if they held on to it, is either about even or up.

GLENN: Everybody. Even the people who bought at the very peak.

STU: Everybody. Yeah, unless you bought like a couple of months ago, when it hit 69-70 for a couple of days. There's a few people.

But generally speaking, almost no one who has ever purchased this and kept it, has lost money.

And that's that's quite a statement. Again, what other investments can you point to, that has that type of record?

There's almost none. So I don't know. You don't know what the future holds, but man, this is a technology that has proved itself incredibly resilient.

GLENN: I get really pissed at you, every time we talk about this. Every time.

STU: You get pissed at me.

Why are you pissed at me?

GLENN: Yes, I do. I blame you for bad decisions. Blame you.

STU: Why?

GLENN: I was with Marc Andreessen.

STU: Yes.

GLENN: It might have even been a fraction of a cent.

STU: It was before -- well before I bought it. That's for sure.

Because I remember the conversation.

GLENN: Yeah. Yeah. Yeah. Yeah.

And he's going to start some new thing with this new currency.

STU: Yeah. I remember you telling me this, at the time. I fortunately, did not listen.

GLENN: Yeah. Neither did I. Neither did I.

And we could have put hundred dollars in it, at this point.

STU: Oh, my gosh.

$100. Do you know how much that would be worth?

GLENN: It was a fraction of a cent. Wasn't it?

STU: I don't remember if it was that low, but it was really early.

GLENN: It was right as he started the digital wallet.

Coinbase. It was right as he started it.

STU: Gosh. This makes me physically ill.

GLENN: I think he actually told me that before he started it.

Or he may have --

STU: In the middle of making money or whatever.

GLENN: Yeah. He said, do you know anything about Bitcoin. You should invest.

Just take $5,000. And just throw it in this. And I'm like, uh-huh.

And I -- at the time, $5,000 was -- you know.

STU: You would probably be a billionaire.

GLENN: I would be.

STU: I can't imagine how many you would have -- I love this story.

GLENN: Well, look it up. Look it up.

Look up when they opened Coinbase.

And what the price of Bitcoin was. $5,000.

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Ten-second station ID.
(music)

GLENN: So go ahead.

STU: What?

GLENN: Why he didn't you invest in it? You're always -- you're that kind of guy. You know, I just threw some money in it. Why didn't you --

STU: I mean, I think I did. I just didn't do it as early as that.

Again, I wish I had invested more. Then I wouldn't have to be sitting here with you every day. It would be a dream.

GLENN: If I had a time machine, that's the only thing I would change. And for that reason. I would go back in time.

STU: You would make me -- you actually wouldn't mind making me a billionaire, just so I wouldn't have to be here every day?

GLENN: Yeah. Yeah. That's the kind of guy I am.

STU: How about this, I'll it do for 10 mil right now. Get some financing.

So it depends. It's hard to know exactly when you talk to him. The Coinbase started in 2012. Coinbase is a little later, when you're talking a fraction of a cent, so it was about ten bucks in 2020 -- when it actually started selling Bitcoin. When Coinbase began that process, it was about ten bucks.

If you spent $5,000 then, you would have had about 500 Bitcoin, which would be worth $32.5 million. Which would be incredibly nice. However, my remembrance of this story was, it was before -- before that. When it was sort of being dreamt up.

So it could have been.

GLENN: It was one of the first times I've ever heard of Bitcoin. And I think I came back to you. And I said, what is Bitcoin?

And you were like, well, people buy pizzas with it.

STU: This is ridiculous history.

GLENN: That's exactly what he said.
STU: I don't think I knew much of anything. I had heard of it. But I didn't know anything about it at that time -- I definitely was not discouraging you in investing $5,000. That's exactly how you remember it.

GLENN: That's exactly how I remember it, Your Honor.

STU: And one fascinating thing I think that really hasn't fully taken -- taken root yet when it comes to the Bitcoin phenomenon.

GLENN: By the way, hang on just a second. I just have to say something. I said at the time. I said that, on the air too.

STU: Oh, really?

We should go back and find it.

We can probably find it.

GLENN: Marc Andreessen. He's at Bitcoin.

Blah, blah, blah. But Warren Buffett. He says, if you don't understand it, you shouldn't invest in it.

STU: Where did you find that?

GLENN: I wonder if anybody. If anybody did it.

What our earliest time was, when we said. Hey, maybe you should throw some money into it.

I don't know if I will do it. If anybody in the audience. Of course, there was somebody that was in the audience.

They're not now.

STU: Showing, they're billionaires.

GLENN: On a yacht someplace.

STU: I think that's one of the things that's most interesting in a societal sense.

That we had a lot of people. Because the early people into Bitcoin. Not like the people necessarily today.

But the early people into Bitcoin. Were people who generally speaking, were ideologically let's say Libertarian.

Or somewhat close to that.

GLENN: Yes. Correct.

STU: And there are now massive amounts of people, who became insanely wealthy over this process. And continue probably to get even wealthier.

And those people who would have probably been marginalized in society, at some level.

Maybe they would of been successful. But would never have that sort of power.

GLENN: No. They're the losers. Loaners. And creeps.

STU: And we've seen.

I mean, Libertarians, will describe themselves this way.

So we've seen now, that many of these people have made an impact. Right?

We've seen a lot of them. Marc Andreessen. Not necessarily, an ideological Libertarian. A lot of these people have risen.

Two of the richest people in the world. Are the Winklevoss twins. The people who had Facebook stolen from them.

GLENN: I think they're fictional characters.

STU: They may be. They were in a movie once. So I don't know.

GLENN: Sure. Anybody can play them. But I think anybody with Winklevoss as their name. And they're twins. I think it's too magical to be real.

STU: It's hard to believe.

GLENN: It is. It is.

Oh, let's call on the Winklevoss twins.

STU: For everything --

GLENN: Show up. Say their names three times.

Hi, we're here to grant any wish, with our magical Bitcoin.

STU: Right. Consider that they basically had Facebook -- in my opinion, Facebook stolen from them. They wound up getting thrown out.

Got some money for it. Were not insanely wealthy.

Wound up not with one, but two giant revolutions of the world.

They were at the founding of almost -- they invested a fortune in Bitcoin, right after that.

And now were multi-billionaires because of it. It's a weird people that wouldn't have normally been at the top of our society. Are now there. And hopefully, they've kept some of these small government routes, through that process.

And maybe they can Friday the country, in a way --

GLENN: No. No. Because when you get that wealthy. What you do, you know, I can get somebody on the phone.

I can make this happen. I don't want a stop sign here.

And I think we should also kill the poor. I will get both of those done. I will call my council member. And, you know, my master at the WEF.

You know what you know I mean?

You start protecting it, and then that all goes to hell.

STU: Maybe. Who knows?

GLENN: We should do what Star Trek did, and abolish all money. Learn how to live in harmony.

STU: That worked out well for them. They were poor in episode.

What are you talking about?

GLENN: How did they pay for those starships? How ridiculous was that?

SHOCK POLL: The % of Young People Who Support SOCIALISM is Insane

New polling reveals a shocking truth: young Americans aren’t just open to socialism... they overwhelmingly want a socialist president in 2028. Glenn Beck and Justin Haskins break down five alarming surveys showing massive ideological shifts among voters ages 18-39, including young Republicans. Why is socialism exploding in popularity, and what does this mean for the future of America? Are we on the brink of a political transformation or potentially even a national crisis?

Watch This FULL Episode of 'Glenn TV' HERE

Property Taxes are OUT OF CONTROL - And Here's Why! | Guest: Texas Gov. Greg Abbott

Texas Governor Greg Abbott joins Glenn Beck to expose why Texans are being crushed by skyrocketing property taxes — and how local governments, not the state, keep driving homeowners deeper into financial distress. Gov. Abbott breaks down his five-point plan to impose strict spending limits, force voter approval for tax hikes, reform out-of-control appraisals, empower citizens to slash taxes themselves, and eliminate school district property taxes for homeowners altogether. Glenn argues that property tax is morally wrong because it prevents Texans from ever truly owning their land, and Abbott lays out his strategy to fight both parties in the legislature to finally deliver lasting relief.

Joe Rogan & Glenn AGREE: We just got CLOSER to civil war

Joe Rogan recently warned that we may have gotten to Step 7 of 9 in the lead-up to civil war. Glenn reviews the 9 Steps and explains why he believes Rogan nailed this one. But Glenn also lays out what Americans MUST do to reverse this trend...

Transcript

Below is a rush transcript that may contain errors

GLENN: So if you take what Fetterman said yesterday about how people are cheering for him to die on the left, and then you couple it with something that was on the Joe Rogan show on Tuesday. He was saying that the reaction to the death of Charlie Kirk makes him think that the US is closer to Civil War than -- than he thought.

Now, let me quote him. He said, after the Charlie Kirk thing. I'm like, oh, my.

We might be at seven. This might be he step seven on the way to a bona fide Civil War. Charlie Kirk gets shot, and people are celebrating.

Like, whoa. Whoa. Whoa.

You want people to die that you disagree with?

Where are we now on the scale of Civil War?

Well, let me go over the scale of Civil War, because it's sobering.

Now, none of this has to be true. If we wake up and decide, I don't want to do this anymore!

Okay?

Here's step one.

Step one. Loss of civic trust.

Every civil conflict begins when people stop believing that the system is fair. Are we there?

We're so far -- we're so far past the doorway, we are comfortably asleep on the couch on this one. Gallup and Pew both show trust in Congress, the media courts, and the FBI government are now at record lows.

The Edelman Trust Barometer classifies the US now as severely polarized. Majority of Republicans distrust federal elections. Majority of Democrats don't trust the Supreme Court.

Americans are really united on one thing, and that is the other side is corrupt!

When faith in the rules collapses, the republic begins to wobble. But that's step one. Step two, polarization hardens into identity!

Political disagreement is normal!

Identity conflict is fatal!

But that's what Marxists push. Identity politics. This is when politics stopped being about policy, and started being about who you are as a person.

Have we crossed this one into step two?

I mean, we're neck deep into this. A study on this, from PRRI.

It's a survey, found 23 percent of Americans believe political violence may be necessary to save the that I guess.

I think that's an old study. Americans now sort themselves by ZIP code into ideological enclaves. The big sort: Universities, activists, corporations. Everybody is promoting oppressor versus oppressed.

And that -- does what?

It puts us into incompatible tribes. Opponents aren't wrong anymore. The opponent is dangerous!

If I go back and you look at civil wars, Lebanon, before 1975. Yugoslavia, before 1991. That's -- we're doing that. Okay?

Step three. Breakdown of the gatekeepers. The gatekeepers are kind of like the referees of society. It's the media, political parties, churches, civic leaders.

When they fail, extremism fills the vacuum. Okay. Where are we on this? Have our gatekeepers failed us?

Yeah. I think both parties, especially the left, you know, everything I predicted that the left was going to be eaten by the extreme left, and then the communists and the socialists is now happening.

They've lost control of the fringe of each party. Media transformed, you know, from referees into team coaches. Tech platforms. It's outrage for profit. Universities are not there to cool things down. They heat them up.

Churches. Churches are useless. Useless.

When the referees leave the field, the game devolves into a brawl. And the refs are gone off the field. So there are only nine steps. We're at step four. Here's step four.

Are you ready for this one?

Parallel information realities.

Civil wars don't require different opinions. They require different realities.

I remember reading about Germany, at the beginning of, you know, the Nazi era. How the two new newspapers. One was propaganda for the government.

And the other one, it was the last one that was kind of the holdout.

And they said, you could read them, and they would cover the same thing.

But they had almost no information was the same. Except, that happened yesterday.

Here's what they said. And then everything else was different. That's exactly -- I mean, step four is complete!

We can't agree on facts, right?

Crime rates. Border numbers. Inflation. Election security.

Two Americans can watch the same video. And see opposite truths.

Social media algorithms are creating customized political universes.

Digital echo chambers. Deepfakes. We're just at the beginning of that. And both sides accuse the other of running disinformation machines.

Why? Because we don't have a shared reality. So if you don't have a shared reality. How do you settle any dispute?

On the nine steps, we're up to number five. Coming in at number five.

Loss of neutral rule of law.

This out of the nine steps with, five is the pivot point.

It's not corruption, it's the belief that the law is no longer neutral.

Are we there yet?

Let me tell you the CBS you.gov poll. 67 percent say the justice system is used for political purposes.

I think that's low. January 6 defendants given years in prison, 2020 rioters were released. High profile political figures, prosecuted or shielded based on party.

FBI whistle-blowers alleging pressure to inflate domestic extremism numbers. States like Texas, directly defying federal directives, on border enforcement.

And now, leading the way, with the federal government.

History is really cold and unforgiving on this point.

Once the people believe justice is political! Remember, this is the turning point.

The republic stands on borrowed time. Once you no longer believe that justice is achievable. Step six.

Are we there?

I think we are.

Step six. Normalization of political violence!

This is where violence stops shocking the system. Are we there?

Remember, where violence stops shocking the system. Look at evidence just from Virginia. What they just voted for.

He was calling for the death of a -- a political opposition.

Calling for his children to be killed.

Was called on it, never apologized.

Never said anything other than, yeah. I know. He dug it deeper.

Was anyone shocked by it? Apparently not. They elected him. Here's the evidence. 2020 riots.
574 events. $2 billion in damage. Was anybody outraged by that? Or was it downplayed and excused?
Assassination attempts. Assassination attempts against the president. Supreme Court justice.

Fistfights. And mob actions on college campuses. To silence speakers. Rising to do for punching a fascist or stopping genocide. Depending on the ideology. Online chatter discussing Civil War, national divorce, and revolution.

When violence becomes part of the political language, a nation crosses an invisible line. We're now up to step seven out of nine.

This is where Joe Rogan said, are we at step seven?

The rise of militias and parallel forces.

When a state loses he is monopoly on force.

Countdown accelerates. So where are we on this one?

I think we're seeing, maybe early signs of this.

You're starting to see the -- the states kind of organize these mobs, you know, to go after ICE.

Right?

Armed groups, right-wing, left-wing radical secessionists. Anyone.

Once they start forming their own police forces. Or their own option forces, then you have -- then you have everything really falling apart.

Entirely!

I don't think we're there, yet!

But we're starting to see the beginnings of this.

Step eight. The trigger event.

Civil Wars don't begin with a plan. They begin with a spark.

So where are we?

We're not here yet. The conditions are right. Potential triggers, disputed election in '26 or '28.

Political assassination or major attack.

Supreme Court decision that ignites mass unrest.

Financial crisis or dollar crisis.

A state federal standoff turning violent!

Nothing is ignited yet, but the room is soaked in gasoline. So we don't have seven. We're on the verge of eight, at any time. And here's nine.

This is the point of no return.

When police, military, or federal agencies split, even if no one calls it that, well, where are we?

Well, I just read a story about how with the Mamdani election in New York, a good number of the police force is going to leave. And they're going to go join police forces elsewhere. You also have the tension between the state National Guard, and the federal directives, the state guard and the state directives. Law enforcement recruitment is at crisis lows. The distrust of the FBI, DOJ, CIA. Tens of millions of Americans. I always really respected those institutions. I have no respect for them now. If you have states openly defying federal rules on immigration, drug laws, sanctuary policies.
Whistle-blower claims of internal politicization.

All of these things are in play for the first time in 150 years, people can imagine!

So I give this to you, not to be fearful of, but to know where you are. As a map!

Know where you are.

And hopefully, it might wake some people up, if you chart America on, on the nine step model of Civil War. Steps one through four, completed!

Step five, happening!

Step six, happening! Step seven, beginning! Step eight, just waiting for it. And step nine, avoidable, only if step eight, never happens. Again, I'm not telling you for doom purposes, this is diagnosis. This is a doctor going, I want you to look at the chart.

And this is a doctor saying, I want you to look at -- do you see what's happening to your body?

If you don't stop this habit, you are going to die. You don't have to die. You can stop smoking and drinking right now. You can start exercising. But if you don't, you are going to die.

The question is, are we the nation that says, nah, that's not going to happen to me. Or are we the nation that wakes up and sees our chart and says, good heavens, it's way far more gone than I thought it was. But I feel something in the air.

I'm going to change my behavior. The nation that refuses to look and wake up and stop calling their neighbors enemies, is the nation that fails!

We have to strengthen these things that have already fallen. And, you know what, the easiest one to do is?

Church. Where are you ministers and pastors priests and rabbis?

Where the hell are you?

I think there's going to be a special section for you, when you cross over to the -- because you're doing things in the name of God!

So when you get to the other side, I think there's going to be a special section for those who remained silent. While his rights were being taken away.

You don't own that right.

I don't own that right.

The Lord gave us those rights, and said, protect them!

By you, being the representative, the voice box, if you will, of the Lord, to shepherd his people. By you not standing up and saying, hey, by the way, we have -- we have a moral responsibility to protect these rights for the next generation! By you refusing because you're afraid. Because I think, there's no politics in the Bible! There's no politics in the Bible. Really?

The whole thing is about politics. Is about the moral way you have to live your life.

Calling things as you see them. Calling them back to eternal principles.

He didn't tell anybody how to vote. Render to Caesar what is Caesar's.

But there are certain principles that you have to have, or you lose not only this citizenship, but the next citizenship. The one that really matters. And, boy, if you are doing it because you're a coward, you are in the wrong business!

Get out of the pulpit, and go to work at Jack in the Box.

Democrat “SMOKING GUN” on Trump & Epstein gets DESTROYED by facts

The House Oversight Democrats recently released "new" emails allegedly proving President Trump lied about his knowledge of Jeffrey Epstein's crimes. However, Glenn points out a glaring issue with these emails that destroys their entire narrative...

Transcript

Below is a rush transcript that may contain errors

GLENN: Well, let's dive right into the Epstein Maxwell emails. My gosh, Stu!

Why are they trying to cover up that Donald Trump had sex with children!

STU: I mean, it's just clear, as -- as day, in the emails!

GLENN: Yeah. No.

STU: He spent hours with one of the victims. What else could have possibly have occurred in that arrangement? We don't know!

GLENN: And it's -- it's one of the victims, Stu. One of the victims!

STU: One of the victims, that's all we know. One of the victims.

GLENN: Let me read what Jeffrey Epstein wrote. I want you to realize that the dog who hasn't barked is Trump. Victim redacted. Victim spent hours at my house with him. He has never once been mentioned. Police chief, et cetera.

Okay. New information, just released. Or is it?

Because in 2011, 2011, that was released and everybody knew it. It's been out floating around. Here's the change: In 2011, this is what it read.

I want you to realize that the dog hasn't barked is Trump. Virginia spent hours at my house with him.

Why would you redact a name that is already out in the public square!

It's already out!

The memo is already out. The email is already out. It's been out for years. Why would you redact that name now?

Well, because it makes it all of a sudden, new and shiny. Shiny and new. If you don't know who said it, you see victim, and you're like, oh, you see victim. Who is the victim?

I don't know. But when you know it's Virginia, you know this has already gone to court. This is -- she already testified about this!

He didn't partake in any of this, any sex with any of it. It's true. He didn't partake in any sex with us, and I'm quoting, this is from the testimony. But it's not true, that he flirted with me. Donald Trump never flirted with me. Have you ever met him?

Yes, at Mar-a-Lago, my dad and him. I wouldn't say they were friends, but my dad knew him, and they would talk. Have you ever been in Donald Trump or Jeffrey Epstein's presence with one another? No!

What's the basis of your statement that Donald Trump is a good friend of Jeffrey? Jeffrey has told me that Donald Trump is a good friend of his.

He didn't partake in any of -- any of the sex with any of it. He flirted with me.

It's true, that he didn't partake in any sex with us. But it's not true that he flirted with me.

So I don't understand that. But she goes on. Donald Trump never flirted with me!

Okay. So what -- what's new about this?

This is the same girl, this is the same person that -- didn't she work at Mar-a-Lago?

Or she was going to get a job at Mar-a-Lago.

STU: Yeah. I believe she did at one point.

GLENN: Yeah. So we know they know each other. We know they know each other.

We know that at Mar-a-Lago, Jeffrey Epstein would come, and he was poaching the employees. The girls there. To go work for him.

And Donald Trump went to him. And said, "Hey, man. Stop it. Stop poaching people from me. That's not cool. Don't do it." And then he said, "Oh, yeah. All right." And then he did it a second time. And he's like, "You know what, you're out. I don't want you here anymore. I asked you not to do it, and you did it." Now, that doesn't mean that he knew what was happening to the girls or what was happening or anything else.

And even if it did mean something was happening with the girls, he was saying, "Hey. Stop it! Don't take any of the girls or the women here.
Don't do it." I don't believe he knew anything about any of this. But God only knows! And really, God only knows!

This is not new news. Donald Trump, he might end up beating Bezos as the richest man on the planet! When all is said and done!

Because, again, the -- they're presenting this as new fact, a giant scandal. Stu, I don't know if you know this. This is -- this breaking news is a giant scandal.

STU: Yeah. I've heard democratic representatives saying that over the past 24 hours. Yeah. We need to investigate this.

This is shocking stuff. It's a massive scandal. Even ABC News, I heard, pushed back against this. And said, well, what scandal? What are you implying occurred here?

We know who the victim was. We know the victim. Like why. Why did you even redact that name?

And they're like we always redact name of victims.

Do you really? When they're already out publicly?

Not to mention, this particular victim is not even alive.

You know, she sadly died. I mean, it's a terrible, terrible story.

GLENN: Terrible story.

STU: Yeah. She passed away.

A suicide. It was at least the report I believe. But she has a posthumous book coming out. But like a terrible, terrible story.

But, you know, to act as if you have to protect her identity when, number one, she's dead.

GLENN: Is ridiculous.

STU: Number two, everybody already knows who she was, including the news sources, who also have a policy, you would think.

And ABC has a policy. They redact, that was in this type of situation. But it's already been out. We already knew who it was.

So they redacted to make it look like he's with other people who have not already told us nothing bad occurred! You know, and it is an absolutely awful tactic. And at least --

GLENN: I think litigation should follow again. I think he should sue them again. Anyone who is presenting this as new information.

ABC did their job. Congratulations for ABC. They did their job.

They pointed out, this is not new information.

Why would you redact. Why are you releasing this now? And you're redacting a name this -- this email is already out!

You're presenting this as a new scandal.

And you redacted that name. This is completely dishonest. The news media shouldn't even run with it. They shouldn't even run with it. They should have said, old news. Old news. And if you did run with it, you should have handle it had like ABC handle it had. Wait a minute. Why did you redact name.

What do you mean that there's a new scandal. She already testified exactly opposite of what you're believing Jeffrey Epstein over the victim right now. I just want to make sure you understand the Democrats right here. You're taking the name of Epstein, over the victim.

Oh, okay. All right.

STU: And Epstein doesn't even say that anything occurred.

GLENN: No.

STU: There's not -- it's just -- it would be something you would have to jump to a conclusion, to accuse Donald Trump of something like this.

And we know what happened, because the victim said nothing!

Said, it was nothing!

GLENN: Right.

STU: In fact, it wasn't even a flirtation. Which, by the way, even that, you might have thought was creepy. It wasn't even a crime.

It wasn't even flirtation. So it's a disgrace in every single way.

GLENN: All right. So let me take you here. Let me take you here.

If you remember when the shutdown first started, what did the Democrats say, the reason why they did the shutdown?

Not them! Why Mike Johnson and everybody else wouldn't negotiate!

Why wouldn't -- why wouldn't the Republicans negotiate?

Because the heat was on, to release the Epstein files.

And they didn't want to have to do that. So they shut the government down!

Okay?

They wouldn't negotiate. You didn't hear any of this? Oh, it's so arrogant.

STU: It doesn't make any sense at all. That's probably what they said.

GLENN: I know. I know. So the government is open, and what does Mike Johnson do yesterday?

He said the House is going to vote on a bill to release all of the files related to the late financier, convicted child sex offender, Jeffrey Epstein next week. He said on Wednesday that a discharge position to bypass leadership and force a vote on the bill, hit the benchmark for needed signatures. It's been decided by him to expedite the vote for the bill, which under the current rules could have been delayed until at least early September.

So he says, as soon as that petition hit, the needed 218 signatures, I brought it up. Unanimous consent. Let's go! Release it.

So he's pushing this forward. Good, Mike!
Release all of it. Thank you!

Get it out. Lance this boil.

I mean, if anybody thinks that you're ever going to get the truth on this in the first place, it's madness. It's madness. Everybody -- I mean, so many important people were involved in this, and it was in the hands of the Democrats for the longest time. Okay?

So they had all of this information. You don't think it was all picked through? And if there was anything about Donald Trump, you don't think that would have come up between 2020 and 2024?

There's nothing in there about Donald Trump. These people are so stupid. This time, we've got him, boys. This time, we've got him.

No, you don't. This time, it's like Wile E. Coyote. This time, we've got the Roadrunner!

No. You're never going to catch him on this. It doesn't work. The guy was the most investigated person in the history of the world, and you've got nothing! Now, it's good to come out.

But if you think you're going to catch a bunch of people on the left, you're not going to. Because they had it, you know, in their possession.

You don't think all of the names were taken out? You don't think things were destroyed, if there was anything? I believe there was something. But I don't believe there's any names in it anymore. You're not going to get the truth on this one. You're just not going to get the truth, but release everything that we have. Everything!

Oh. Oh, by the way, also in the Epstein emails. How come nobody is talking about this one, Stu?

This one is from Michael Wolff, to Jeffrey Epstein. And then Jeffrey Epstein responds.

So Michael Wolff writes, "What's the thumbnail on Nes Baum (phonetic) Foster?"

And Jeffrey Epstein writes back, "Nes Baum White House Counsel, dot, dot, dot, Hillary doing naughties with Vince."

Now, Vince Foster killed himself, you know, and then killed himself at the White House. And then drug himself across the street to the park.

I mean, I don't know -- the Vince Foster thing is so old. And it doesn't -- but why is nobody talking about that one?

Why is no one talking about that?

Also, this the Jeffrey Epstein email bundle, ABC, you don't feel that's necessary to bring that one up?

Huh. Interesting.