RADIOApril 21, 2022

Economist BREAKS DOWN the Fed’s ‘BOGUS’ plan for inflation

Steve Forbes, Economist & Editor-in-Chief of Forbes Media, joins Glenn to break down several economic concepts that may be hard to grasp: What IS inflation, is it calculated correctly, and how did it get SO bad today? Plus, Forbes describes the 'gimmicks' used by today's Federal Reserve that are furthering America's current economic crisis: '[The Fed] wants a slowdown, and they just hope they can avoid a recession. It's bogus thinking.'

Transcript

Below is a rush transcript that may contain errors

GLENN: Welcome, Steve Forbes. How are you, sir?

STEVE: Good to be with you, thank you.

GLENN: So I'm really interested in hearing your take on what we are headed for with inflation. So let's --

STEVE: What --

GLENN: Let's start here. Explain what inflation is. You know, some people. You are so used to hearing, we're going to have 2 percent inflation. Oh, that's good. No, it's not. Is it, Steve?

STEVE: No. Just as you don't say, reduce the size of a gallon of gasoline, and that's good for you. No, it isn't. Keep it the same. So inflation. That's why we did this reader friendly book. No jargon. Straightforward.

There are really two kinds of inflation. One is a nonmoney kind. Nonmonetary kind. One you say, you have bad weather. Commodity prices go up. Wheat prices go up. Or you get the kind of shutdowns we have the pandemic, which disrupts the supply chain all over the world. We're still suffering from that. That sends prices up.

And then you have the money kind, where the government reduces the value, in this case, of the dollar by creating too many of them. And we know the government has been spending on a spree. How has that been financed, a large part of it has been the Federal Reserve. Buys those bonds. How does it get the money to buy those bonds? It creates it out of the thin air. The ultimate ATF. Now, unfortunately, Glenn, on the nonmonetary inflation, normally, if you just leave the economy alone, those things will heal themselves. We did it after World War II. And we converted from a wartime economy, to a peacetime economy. Disruption. But we did it. But unfortunately, the Biden administration is putting obstacles in the way. Starting with the role on fossil fuels. A lot of other the crazier things they've done. Seventy-seven executive orders. $200 billion of new regulations. So they're making the problem worse, instead of letting the economy heal. And the Federal Reserve, they've been printing a lot of money. They've been producing gimmicks to try to keep that money from flooding the economy. But that's going to run out. So if they don't get their act together, we're in from a rough time. Let me conclude on this. Unfortunately, this is where we have a real danger now. The fed believes, the way you cure inflation, is not by stopping the printing press. And making the dollar whole again. Making it stable again. They believe you do it by slowing the economy down. Throwing people out of work. And that's what they're up to now.

GLENN: So, Steve, first of all, the -- the idea of inflation, we say it's now at 8.5. That's just because we measure it differently.

If you look at shadow stats that measure it the way we did under Reagan. It's at 17.1. Is that fair to do, or not?

STEVE: Well, this gets to the whole thing of, how do you measure prices? The whole labor department. It has a whole bureau devoted to it. What do you put in the index. One of the crazy things is when people's buying patterns change. Let's say you have meat prices, which they have. So instead of having steak. You might go for cheap hamburger. Well, they don't account that as inflation. They just say, the patterns have changed stop, yes, you can manipulate these things six ways to Sunday. But the bottom line is price are his going up. The cost of living is going up. Part of it is the pandemic, and the Biden administration making things worse. We can cure that, hopefully with a new Congress.

But the Federal Reserve, they have to get over this notion, that when we do work, when we're trying to be prosperous, they got to slow us down. That's really bad stuff.

GLENN: I don't know that anybody really understands the fed balance sheet, and what they've done, and the money that they have loaned out. Trillions of dollars, that they have bailed banks out all around the world.

If you can't -- you know, theory trying to sell off the stuff, they have on their balance sheet. But every time they try that. And/or raise interest rates, the economy stops. And so not sure they're going to be able to do either of those. How do you pull this money back in, to be destroyed?

STEVE: Well, what -- what you do. First of all, which they won't do this part. Is you leave interest rates alone. Let the market set interest rates. Controlling interest rates is like rent control, which as we know, hurts new construction. This is trying to control the price of money.

Affect the price you pay for renting the money, so to speak. So they should just leave that alone, and let the market sort it out very quickly. On your point about what the balance sheet, when you say balance sheet, people's eyes start to glaze. Just think the fed is sitting on a pile of bonds. And too many of them. And so what they should be doing is letting those bonds mature. Not buying new bonds. Let the money supply go down. And if they do that in a responsible way, we'll avoid a huge slow down.

But let me give you something. A gimmick that they've been employing the past year. When they were creating $120 billion a month. Pulling money out of thin air. Let's walk your listeners through on this.

When the Federal Reserve creates money, they call up a dealer, a bond dealer like Goldman Sachs. And say, we want to buy a billion dollars of bonds. So Goldman says, fine. They give the fed the bonds. How does the fed pay for those bonds? They credit Goldman's bank account. Where does that money come from? No place. The fed just says, voila, you have it. And that's how they create the money out of thin air. So they're doing that last year, at a rate of $120 billion a month. To help finance the government's debt. And so what they did, to try to keep it from an even worse inflation, than we've been experiencing. They then create the money. And then borrow it back from the banks, and money market funds, overnight. If you want to get technical, if people want to look at this stuff, they go to (inaudible), they'll find a thing called reverse repurchase agreements. In effect, the fed is pouring money -- pouring a bucket of water at one end of a pool, and then taking it out at the other end of the pool.

Now, that gimmick can't go on forever. You know, a year ago. A little over a year ago, they had zero of these reverse repos. Now they have $1.7 trillion. That's the game they've been playing. Huge damn of money ready to flood the economy. So we are now also by turning the -- taking the money, and saying, oh, no. You're a central bank. Your dollars are no good, to Russia. A lot of countries around the world are going. Jeez, if I get on the wrong side of America, all of a sudden, what I have as gold is no good. That's not safe for me. We are destroying the dollar at the same time we're inflating the dollar. How is this going to end, Steve?

STEVE: Well, ultimately, and this will sound very strange, and you shouldn't say it in polite company. All the -- in a few years, we're going to do again, what we did for the first 180 years of this country's existence. And that is tie the dollar to gold. What it means is that gold for a variety of reasons, keeps its intrinsic value. What it means, it's like a measuring rod. Not perfect. But it keeps the dollar stable in value. If we maintained the growth rates we did for that 180 years. Which was the greatest in human history. And then we went off the gold standard in the early '70s. And since then, the average growth rate for the United States economy, has gone down by at least one-third, from about four and a quarter percent to two and three-quarters. That doesn't sound like that much, but you do that over 50 years. Let me just give you a number.

The average -- the median household income today is about $68,000. If we had maintained our historic rates of growth, which we did for 180 years, through depressions, wars, civil wars, you name it, we would maintain that average name of growth. You know what the median income would be? $110,000.

That's what we've lost over half a century of funny money. It's bad stuff.

GLENN: Can you explain -- you just said that the fed is going to destroy jobs. Or they're -- you know -- how are they doing it?

STEVE: Yes. They have this theory, called the Phillips curve. It's not a baseball pitch. It's named after an economist who said, if you want low unemployment, you have to have higher inflation. If you want lower inflation, you have to have higher unemployment. They believed prosperity causes inflation. They don't realize devaluing the dollar causes inflation. But they can't grasp that. So as a result, you hear this talk about soft landing, what they mean is, can we slow the economy down enough, without going into a full-fledged recession? Usually, their attempts at soft landings is a crash landing. They are trying to slow the economy down. Create unemployment because they think the economy is too prosperous. That's why they think they have this inflation. So they won't say that, explicitly. But you've pressed them on it. Yes, they want a slowdown. And they just hope they can avoid a recession. It's bogus thinking. Experience disapproves it. But if the fed, the Philip's Curve is wholly writ.

GLENN: By the way, we're talking to Steve Forbes. He's got a new book out called Inflation. What it is, why it's bad, and how to fix it.

Steve, when you look at the money printing that we have done, you immediately think of Weimar Republic. I mean, idiots know that, hey. You can't keep doing this for very long. And at huge sums of money. Okay?

Everybody learned that. Weimar Republic. Zimbabwe. Et cetera, et cetera.

STEVE: Venezuela today.

GLENN: Venezuela. So do we know -- or have a guess on -- on how close we are to that?

I mean, is there a possibility we go into hyperinflation?

STEVE: You can't rule anything out with these people. But I think the answer is, no. I think even some people at the fed are realizing, they're on the -- they're in the danger zone. And so they're trying to figure out, they got themselves into this mess. And they were doing this, by the way. Undermining the value of the dollar. Before the covid crisis. This was starting in 2018. So they can't say, oh, we did it because of covid. No, they were doing it before covid. So I think they're trying to figure out now, how do we get ourselves out of it, without getting a disaster? So I think they're going to slow down the money creation. But what they should be doing now, is instead of trying to manipulate interest rates, just let their -- just let the bonds mature. And the size that they hold of those bonds, go down. Nature will take -- nature will take care of it.

Treat the -- keep the dollar stable. And then let the bonds mature. Run off.

And we'll -- we'll get through this. But the other side of the coin, is even if the fed starts to behave itself, then you have a government that is doing everything it can to slow the productive part of the economy. You know, the genius of Ronald Reagan was, when he cured the inflation. At the same time, he cut taxes, deregulation. And that's why we roared in the '80s. After those tax cuts went into effect.

GLENN: We're doing the exact opposite.

STEVE: So we'll have to wait until 2024, to get that done. But with 2022, hopefully with the November elections, at least we can put barriers in the way of the Biden administration, from putting new burdens on the economy. And also start questioning the fed. What in the world are you guys doing? Why do you think prosperity is bad for us?

GLENN: Steve, can I hold you for one minute?

I have about five more minutes, if you have time. Hang on. Sixty seconds, and we're back with Steve Forbes.

Sometimes we send people out to do our bidding. Sometimes we send them out to protect us in our own communities. We send firefighters out to fight our fires. We send soldiers out, and they don't come back. Or they come back forever different, as a person.

This is where Tunnel2Towers Foundation comes in. Tunnel2Towers was started right after 9/11. And they have been supporting America's heroes. And their families. The first responders, or military service member, when they don't come home. And children are left behind.

They pay off their mortgage to lift the financial burden. This really is a great organization. For catastrophically injured veterans and first responders. Tunnel2Towers, built mortgage-free smart homes, enabling severely injured heroes to live more independent lives. And now through operation home base, Tunnel2Towers is gifting tiny homes to homeless veterans. You can help. Donate $11 a month. Just $11 a month. T2T.org. T2T.org.

Do it now. And let's start -- can we just take care of our own, and stop looking to the government to do these things? T2T.org. Ten-second station ID.

(music)

GLENN: Steve, I know this is off the inflation path, a bit. We're talking to Steve Forbes. The book inflation. What it is. Why it's bad. And how to fix it. But I'm really concerned about these ESG programs. You know, going and switching our economy to a stakeholder. Capitalism. Which is just bullcrap. In my opinion.

And -- and -- and the way we are letting BlackRock and others come in and just buy us all up. They're buying in every seven homes, for sale. Going to BlackRock.

STEVE: Well, this -- and the nice -- the good thing about a free economy, free country, and free speech, is when these things start to happen, you can arouse the public. They won't say it publicly. But Coca-Cola, and Delta, really reversed course after they did what they did last year. When they booted the all-star game out of Atlanta. Because they didn't understand what Georgia did with the voting laws. Which are more -- more liberal than they were in New York City.

Hello. And they got burned on that. They got real pushback on that. Disney is getting pushback on it.

So the way -- the way you answer this stuff, is you push back.

And one of the things I think you're going to see happen after the November elections, is looking at ideas on how, if you're a shareholder in a fund, or a group, BPF or something, how can you have a voice on how your share of the shares, so to speak, are voting at these annual meetings? It's complicated. But I think you're going to see a real thinking on that. So it's not just a group of people. You know, decades ago, there was a great business guru called Peter Drucker. And some schools still read his book. Business schools. But he warned of what he called pension fund socialism. He noted the rise of pension funds, owned by the state. And by -- by endowment funds. And he said, they can end up buying the economy. The government doesn't have to do it. They're doing it for them.

So I think you're seeing real pushback, on that. But they get to what you might call, modern socialism. The modern socialists recognize, you don't have to take over a company or an industry. You just have to regulate it, so its survival depends on your whims. And that's what the Biden administration is doing. Practicing modern socialism. And pressuring the BlackRock and others. BlackRock and others, go along. With the pushing that kind of agenda. That has to be resisted. But modern socialism, different from our mind, you have the regulators to do it. You don't have to take them over.

GLENN: Would you -- would you say that we are now doing modern monetary theory in Washington? We have one minute.

STEVE: They're doing a form of it. Modern monetary theory. Is simply modern gash on the old idea of devaluing money, by creating too much of it. You know, in Roman times, they did it by reducing the precious metals in a coin, and putting that tin and junk in it. In modern times, we do it by printing up a lot of paper money. With now ellipses on your handhelds.

And it's the same thing. And what you see unfolding now -- we discuss this in the book, inflation is the old response of government. They scapegoat.

You know, in Roman times they blame Christians. In able times, witches. Now today, we blame company executives, with the same old movie.

GLENN: Okay. Steve Forbes. Thank you. Hold on for just a second. Steve Forbes. His new book is out today. You want to pick it up.

Inflation. What it is. Why it's bad. And how to fix it. More in just a second.

Trump's Tariffs EXPLAINED: Will Canada Cave Like Mexico?

Did Donald Trump start a trade war with Mexico and Canada, or is it all part of his negotiation strategy? Mexico has already agreed to help improve border security. But Canada has pushed back against Trump’s promise to slap 25% tariffs on many Canadian goods. Glenn explains what Justin Trudeau doesn’t seem to understand: This isn’t about “punishing” Canada. It’s about national security and getting the best deal for Americans.

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. Welcome to the program. Donald Trump just got off the phone with Justin Trudeau.

Apparently, they're going to talk again at 3:00 this afternoon.

But he's not -- he's not going -- he's not going light on Justin, which I'm very happy about. Canada, immure -- I'm sorry. When we're there too.
-- I don't want to feel like we're pointing out Canada going, you guys suck! We sucked too. We just woke up and changed leadership.

And we're -- we are going in a different direction. Because we've learned the same things you know. Okay? You know it!

This can't continue this way. Right?

STU: Yeah. The one. I have several issues with some of these policies.

One that I do, is really -- a little bothersome to me. Trudeau is so unpopular, in Canada. So on the way out.

Now there's this nationalist Canadian thing going on. Where they're --

GLENN: Wait a minute. Trudeau is becoming a nationalist?

STU: It's hilarious. He's now getting the benefits of the support, of people who are just rallying around him mindlessly.

Whether the policy is right or not. I just don't like good things happening to Justin Trudeau.

I don't know if that's part --

GLENN: That was an unforeseen consequence.

STU: We will see, obviously, with where this lands, much more important than not.

GLENN: Here's the thing. We have a president that is not actually trying to destroy us.

STU: Yeah. That's true.

Whether you like this policy or not, when it comes to tariffs. You know that the motivation behind it is to make the country better. And I don't know if it's always the motivation behind these policies, when we've seen previous presidents go after them.

Obviously, a lot of Democrats have gone after similar policies. I think a lot of times, their motivations have been much, much worse.

So at least we've got good motivations behind this.

I mean, I think Trump is looking at this and saying, he thinks this will work long-term. I think most clearly, you pointed this out, Glenn, with Panama. With Colombia. Most clearly, he believes they're going to back down from this eventually.

And give us concessions. And I think that's probably the most likely outcome.

GLENN: That seems to be what's happening with Panama.

STU: Yeah, definitely happened with Colombia.

It does seem to be, we are the big boys on the block. And Donald Trump is not only familiar with that fact, but also comfortable with it, unlike other presidents. He's comfortable with us being the big boys on the block.

He's comfortable with us being the world power. That's okay in his eyes. It's okay in my eyes. It's okay in your eyes.

GLENN: As long as you don't become a big bully. I mean, listen to what Justin Trudeau said.

Let's go to cut three, please.

VOICE: Now is also the time to choose Canada. There are many ways for you to do your part. It might mean checking the labels at the supermarket. And picking Canadian-made products. It might mean opting for Canadian rye over Kentucky bourbon, or foregoing Florida orange juice altogether. It might be changing your vacation plans to stay here in Canada and explore the many national and provincial parks, historical sites, these tourist destinations our great country has to offer.

STU: Useless job, yeah.

GLENN: I know he is. I know he is.

STU: He's using this to turn around his own political fortunes. Which is infuriating. He doesn't care about any of this other stuff. He's motivated by his own political interest here.

GLENN: Here's cut six.

VOICE: I think Canadians are a little perplexed as to why our closest friends and neighbors are choosing to target us, instead of so many other challenging parts of the world.

I don't think there's a lot of Americans who wake up in the morning saying, oh. Damn Canada! Oh, we should really go after Canada.

GLENN: You're right!

Why were you targeting us? Why -- why was your -- your number two in command that just quit, why was she targeting people here for, you know, giving to a freedom movement in Canada?

I mean, it's not like you've been our best friend, Justin.

STU: No, he's been horrible.

GLENN: Terrible. But Canadians are great. I love Canadians, and I love Canada. And Canada should love Canada.

STU: Sure.

GLENN: And you should be concerned about what the state of your country is in.

You know, look at your immigration problems. Look at what's happening to your country.

That's what started all of this.

Is the fentanyl coming across our borders. Both north and south.

And the illegals. Stop it. Stop it.

And the great way to stop it is to make sure you stop it at your borders.

From them coming into your country!

That's -- that's really what this is about.

STU: Right. And that's what's clear here.

You know, Trump always says tariffs are his favorite word.

You've talked to him privately about that.

GLENN: I disagree with him on that happen.

STU: A way, I don't think that's exactly what he means.

Tariffs are good, to the extent that they get something else done. Right?

They're not good in and of themselves.

They're just taxes in and of themselves.

They do raise prices on us. The calculation however is, will the pain, that is applied to both sides as Trump has outwardly stated. And it's important to be fair to him.

A lot of people are saying, he's not saying this.

He's saying, there will be pain.

Those are his word. There will be pain on us.

The calculation is, the pain on us, will be the pain less on them.

And they will give first. And then he will get what he wants, outside of the tariffs.

That's the calculation here.

I mean, it is a risky one at times. And, you know, these -- you can call it a trade war or not.

But the bottom line is, when we escalate them, then they escalate. It's -- you could say it's not a trade war. But it kind of is.

I mean, it's a trade competition, if you feel more comfortable with those terms.

But the bottom line is, we believe we're going to win it. That's what he's saying!

And he believes we will win it. And at the end of the day, we get concessions that improve the country. The proof is going to be in the pudding on that.

Will it work? As you pointed out, it has worked kind of with Panama, so far, it seems like.

It's worked kind of with Columbia. It's going to work with some of these countries, it will be more difficult with a country like China.

I think what we saw in his first term.

Was a renegotiation of NAFTA, which basically became the US embassy. Right?

GLENN: Which he still doesn't like. It was the best he could do.

STU: It was the best he could do at the time.

He's I guess not happy with it now.

Because, you know, you're not allowed to put new tariffs either one of these countries in that agreement, which he negotiated. But he wants something better. I mean, how can we be upset with a president who wants something better for the country?

It -- it's just a question as to whether it works or not. The guy -- the Dallas Mavericks traded Luka Doncic this weekend.

The DM came out and said, you'll have to judge me as to how it turns out. We will!

Right? Congratulations, we will!

GLENN: In fact, we kind of already have.

STU: Well, that one, we already have.

That's probably a bad example.

That's exactly what will happen. If this works, and you get something out of it.

People will probably be okay with it, even if it is short-term pain.

Generally speaking, though, the American people only have so much tolerance for that.

And Donald Trump has a finally tuned eye for that type of thing. And I'm sure he will walk that line carefully.

GLENN: He does. Oh, yes, he is.

Yes, he is. And like I said, he's not trying to destroy America. He's trying to save America. And I know that's a new concept, to the American people.

STU: Yeah.

GLENN: I'm sure it's new to Americans as well. Cut one.

Here's Donald Trump talking about tariffs on Europe.

DONALD: Well, you're asking me a question.

There's a period in here, am I going to oppose tariffs by the European Union? You want the truthful answer, or should I give you a political answer? Absolutely.

STU: He wants stuff, and this is how he gets stuff.

GLENN: Yeah. But what does he want?

STU: I mean, various things from various countries, right?

GLENN: Yeah. He wants. The big things, he wants an end to the World War II order.

Where we are protecting Mercedes Benz. Allowing Mercedes to come in here, and have all kinds of access to our market. And Ford can't.

We don't have that!

We don't have that in Germany.

Why? Because we wanted to make sure the German countries could recover. And all the car companies could recover.

You know, the world is just not a good place without all that citron.

So that's what that is all for.

That's why we did that. And it never changed.

And it's got to change. It's over.

It's got to change. The other thing that absolutely has to change. They have to pay their 5 percent. Into NATO.

You've got to pay it.

STU: That's -- everyone is in this agreement.

GLENN: Yeah.

STU: It exists with the terms of the agreement.

GLENN: Uh-huh.

STU: In place. Follow them.

That's not a difficult thing. We're doing a lot more than everyone else, anyway.

Even if we all pay 5 percent, we're the ones footing the bill. We're the ones basically running that organization.

The least you can do is get to whatever that percentage is.

GLENN: Yeah. And that's fine if you don't.

If you don't want to do that, that's fine.

Then the agreement doesn't exist, and we're not going to protect you all the time.

You know, Winston Churchill. He had to beg the United States to come in because the Americans don't want to be involved in everybody else's business. We don't!

Our government, our state department seems to want to.

The military industrial complex wants to. But the American people don't!

So we're totally fine with that, Europe.

We don't think that's a good idea for you. But, you know, in time, you will learn to defend yourself. And then you will probably get pissed off at the French and start bombing them.

And then we'll be in it all over again. Again, we don't recommend it.

But go ahead. We're not protecting.

What do you think Justin Trudeau will say, if we said, oh, well, you don't want to protect your borders.

Okay. All right.

You want a trade war. Okay.

Well, I think we're done helping your military.

I mean, that's -- we win at the end. Hopefully, we'll never get to that. We win at the end.

STU: They have to know that.

GLENN: Yes, they do. They do.

STU: They have to know that.

I'm not surprised they're retaliating, with the 25 percent tariffs of their own.

Obviously, there are a lot -- we do send a lot of products to Canada as well.

We are the second largest exporter in the world.

GLENN: But --

STU: So we do send products to a lot of these countries. And it will burn those companies. And it will hurt at times.

If these things even get into place. We're not even in place yet.

Would it be surprising at all, if there was a most of negotiating. No.

GLENN: Let me ask you. He was just on the phone with Justin Trudeau just a few minutes ago.

Hung up the phone. What's he doing at 3:00 this afternoon?

Getting back on the gonna Justin Trudeau. This is a negotiation.

GLENN: Yes. Exactly. You can't get too worked about it. Because you don't know where the story ends.

GLENN: We have no idea. We're not the ones negotiating.

Here's what we do know, our negotiator is trying to get the best deal for us.

And he's a businessman. He understands it. Unlike attorneys who run the rest of the world.

THE GLENN BECK PODCAST

NEW EVIDENCE: Shroud of Turin Shows Exact Moment of Resurrection?! | The Glenn Beck Podcast | Ep 243

In 2022, a prize of one million dollars was promised to anyone who could recreate the Shroud of Turin. If the Shroud is a forgery, that should be a simple task. Yet, no one has accepted the challenge. “The Shroud of Turin is the most lied about artifact in history,” says distinguished New testament scholar, Pastor, and President of Christian Thinkers Society, Jeremiah J. Johnston, who guides Glenn through a scientific, historic, and theological exploration “beyond the mystery” to the “message of the Shroud.” Discredited and marginalized as a relic only relevant to the Catholic faith, Jeremiah contends that the Shroud of Turin has something to offer every follower of Christ. He reveals what he believes to be the rare blood type of Jesus, the real design of the crown of thorns, and why, in his opinion, Christ was buried at the Church of the Holy Sepulcher. Glenn shares what he saw when given a behind the scenes look at the artifacts housed in the Vatican, and asks Jeremiah whether he is concerned about the AI recreation of the face of Christ. Not only may the Shroud of Turin provide a deeper understanding of the crucifixion, but does it also miraculously uncover the exact moment of Christ’s resurrection? Find out in this paradigm shattering episode of the Glenn Beck Podcast.

Glenn GOES OFF on Senators Trying to Block Trump’s Cabinet Nominees

What's actually going on in Washington, DC? President Trump's cabinet nominees like Tulsi Gabbard, Kash Patel, and RFK Jr. faced hostile confirmation hearings as both Republican and Democratic senators grilled them on insane things. But why would Bernie Sanders, for instance, oppose RFK Jr., a fellow critic of Big Pharma? And why would someone like Doug Burgum get an easy pass to lead the Department of the Interior when climate change is allegedly the biggest crisis we face? It's because these senators don't actually care about "truth," Glenn argues. They care more about preserving themselves and stopping any nominee who will expose their corruption. But the American people have had enough. The truth WILL be revealed. And that's why Trump needs his cabinet ...

Transcript

Below is a rush transcript that may contain errors

GLENN: All righty. I have a few things to say.

Let's start with, who is having a hard time getting confirmed?

Okay. Let's just go through the names here in a second.

What's really being discussed here.

Who is under the gun?

Let's start with Pete Hegseth. What is he going to do?

He's going into the Department of Defense. He's looking for those weasels, that have been changing everything in our Defense Department.

Has been culling anybody who disagreed with Joe Biden.

Anybody who thought Donald Trump might be right.

They got rid of all of those people.

Then they committed another atrocity, I believe, for our military.

Demanded that you get the COVID shot, or you were out! It was crimes, incompetence, maybe crimes of incompetence, in Afghanistan, at least. They were trying to control the message. Control the military through DEI.

So Pete Hegseth is a target. Why? Because he's going to find out what's going on. He's going to run investigations. And he's going to stop it.

Okay! Next. FBI DOJ.

So why -- what is he going to do? What is Kash Patel going to do when he gets into the FBI?

Well, he's going to investigate crimes, the weaponization of the FBI. Also, the way that they protected those in Congress, or those in power.

I.e., the Hunter Biden laptop. I.e., the FISA courts.

So he's looking for bad guys, while also trying to clean it up. Because you can't clean it up, if you don't know who the bad guys are.

Then you have the Director of National Intelligence. And Tulsi Gabbard. She's under fire. Why?

Well, she needs to go in and expose all of the black ops, and those leaking lies to the press. And shoring up lies to the members of Congress.

And rooting out the darkness between the members of Congress, the White House, the military industrial complex, and the intelligence community.

What is RFK? Why is he being challenging?

Because he's going to expose the lies of COVID, the corruption, and corruption with pharmaceutical companies.

He's going after and breaking that all up. These are all big businesses. You know, big businesses, for congressmen and senators. And the government!

This is -- this is the center of public/private partnerships. Okay?

And they all involve people who want to go in and find out the root of what's really going wrong here! So they're all under attack.

But what did the Democrats say, is the existential threat to the republic, and all mankind?

What was it?

STU: Global warming!

GLENN: Global warming. Global warming. Guess who just -- whose nomination just flew by!

Doug Burgum.

STU: Burgumentum, yeah. It sure did fly by.

GLENN: Doug Burgum. That is weird.

STU: You would think for Department of the Interior, the concern for a bunch of people who think global warming is the big concern.

GLENN: What he's going to do is reverse a lot of the things and make coal, gas, oil exploration okay for many parts of the Interior of the United States.

He sailed through!

Now, how does he sail through, if he's just going to be -- his role will be to destroy the opposition to oil, gas, and coal?

Notice what he's not going to be doing. He's not going to be investigating the government.

So forget about what we said about the biggest threat. No, no. The biggest threat seems to be the people who are looking into corruption!

So I was a little outraged. I've been a little outraging all week.

And I want to clarify things. And make very, very clear.

We're talking about threats to our democracy.

That's what they said. And I believe that to be true! We're talking about the rule of lay. Right?

But let's -- let's actually look at what is being said in the so-called confirmation hearings.

On day one, with Bernie Sanders and RFK. America's favorite millionaire socialist was railing about onesies.

Onesies! What? That's the great moral crisis facing this country? While we teeter on the edge of war. While the economy is in free fall. While we have corruption all throughout our government? With COVID and pharmaceuticals. Onesies is the thing you're bringing up?

While the very institutions, he claims to protect, have all been turned into political weapons.
Then when RFK Jr had the audacity, the unmitigated gall to point out, that this self-styled champion of the working class was the single largest recipient of pharmaceutical money in 2020, what happened? What happened?

The old man went -- oh! I knew this was going to come up in my socialist dreams.

What did he do?

He did what they all do. He had to silence RFK.

He had to have him dismissed. He needed to discredit him.

He needed people not to hear what RFK was saying.

The same man who spent decades raging against corporate greed. Suddenly has nothing, but caveats and excuses, when the money was going his way.

Now, I don't think it was. But let's just say, that was a lie about Bernie Sanders!

Let's just say that RFK just made that up.

Okay. What had to happen?

Well, Bernie Sanders needed to be able to clarify. Right?

He needed to be able to say, that's not true. And here's why that's not true.

But he couldn't. Okay? He just had to shout it over what RFK was saying. He had to silence and talk over RFK to stop the accusation.

He needed to defend himself, and explain. That's what would happen in a fair system.

But no one on the receiving end can silence the senators. No one on the receiving end can talk over them, and say, that's a lie! And get the control of the room back, so they can set the record straight. The senators can. See, the questions are akin to, when did you stop beating your wife? And I think that was an actual question for Pete Hegseth, last week. Was it not? When did you stop beating your wife?

These hearings are not advice and consent as the Constitution requires. They are smear, destroy, and delay.

Let's move on to Kash Patel. The man accused, without any evidence, of course, of planning to weaponize the DOJ and FBI. That's laughable!

Who is accusing him of that? The very senators, who have spent the last 20-plus years. Weaponizing the entire government, against the American people.

The same people who oversaw the raids on journalists. The spying on sitting presidents. The suppression of political opponents. The imprisonment of pro-life activists, while violent rioters just walked free.

Are these the people who have the audacity, to clutch their pearls about the politicization about law enforcement?

The hypocrisy is so thick, I almost choked to death on it!

And then there's Tulsi Gabbard. God bless Tulsi Gabbard.

When she finally got a chance to speak, she laid it out, plain. Corruption in our intelligence community, is not a theory. It's a fact!

It's a matter of record. It's not even in dispute.

But did anybody talk about that?

No!

Smear, silence, destroy.

Instead, they smeared her. She's a Russian agent.

She's a traitor. She's a spy for Syria. She doesn't care about the Constitution.

These people are so desperate to maintain their stranglehold on power, they will destroy anyone who has -- who has the gall or the opportunity to expose them. They're all rallying around the idea that these people must be stopped, why?

Why did Doug fly through with the Department of Interior, if that's the biggest problem? Because that's not the biggest problem.

They know the biggest problem right now is, they're about to be exposed. So they have got to destroy and delay and stop these people.

They asked her if Edward Snowden was a traitor. They weren't interested in their answer. Because the truth is too dangerous for them. They're not interested in an actual answer on any of these questions.

Here's the truth: Is Edward Snowden a traitor?

Well, I don't know. We could talk about that back and forth.

But I know he shouldn't have ever had to blow the whistle.

Especially to the press.

But it's because of this very committee, senators, it is because of many of you, in fact, you from Colorado, that are questioning me on that!

You were in the Senate, at the time.

Why did -- why didn't -- why wasn't he comfortable coming to you, to blow the whistle.

Why is it he couldn't, become a whistle-blower?

He had to go to the outside press?

See, all of the things that they were doing, that he exposed, I don't like the fact that he exposed them.

Because it hurt the United States. But I'm glad he exposed them. Because what you were doing. What you in Oversight were allowing to happen for years, was against the Constitution.

Was against our rule of law.

So he shouldn't have had to have blown the whistle.

You, all of you, sitting right here on this panel, you're in charge of oversight. You failed!

And you dare question me. Maybe you should do your damn job. Maybe you should stop the unconstitutional surveillance programs, before they ever begin.

These are the people that oversaw the FBI lying to the American people about Hunter Biden's laptop. The laptop that proved the sitting president of the United States and his family took tens of millions of dollars from foreign adversaries, including China!

The same China that is threatening the United States, threatening Taiwan, the same China that these very senators allowed to buy up American farmland and land around our own military bases.

The same China that floods our streets with fentanyl, while their partners in Mexico, butcher Americans, at the same border. While these same senators do nothing, while millions of unknown, undocumented people flood over our borders. And have empowered the cartels.

Don't you dare ask me who the traitor is, Senator!

Don't do it.

Where are you on any of these?

Let me ask you, Senator. Let me all of you.

Who is the traitor here?

Is Edward Snowden the traitor that just has to be executed?

Because treason comes with execution. So is he the traitor here?

Is he the biggest traitor? That happened 15 years ago. Your technology on spying, and corruption, is far beyond anything he ever said!

Is he the traitor? Or is Senator, let me ask you, the president.

President Joe Biden, is he the traitor for taking millions of dollars from our enemy!

Is his family? Did they commit treason? Or is it the people under your oversight, who knowingly spread false information, to protect that family?

Or is it you, Senator? Are you complicit? Are you corrupt, or are you just simply incompetent!

Because it's one of the three. Incompetence. Corruption. Or outright treason. Which is it, Senator. That's what I would like to hear.

Pick one! Because the country is waking up. And the American people are demanding an answer.

And we will get it in the end.

You cannot build this house of lies.

It's already crumbling around. Now would be the time to tell the truth, senator.

Because we're looking for a lot of answers here.

Who was actually executing the duties of the president of the United States, in the last six months?

Maybe the last four years.

I don't know how long. When did you know, Senator? Did you know who was protecting? Who was silencing anyone that was trying to say, maybe we have a problem here? The president is clueless.

By the way, while we're on this topic. Who was responsible for the coup?

To overthrow a president of the United States!

Because that's what it was.

How did that happen?

Who was actually there? Who made that happen? And then selected Harris to be the democratic candidate. Who did that? How did that happen? I'm so interested to know, because none of it is constitutional. And why did, whomever actually came up with the huge list of names for presidential pardons. Include so many of you!

Senators.

So many congressmen, so many people who dared to point the finger my way. Who was in charge of that list. And why are you on those lists?

Is this the reason you're afraid of people that are simply looking for the truth?

Because I want to be crystal clear on what this really is.

I'll continue in 60 seconds.

First, let me tell you about Rob, who wrote in a while back about Relief Factor.

Besides working on his regular job.

Rob built houses on the side for years.

It's a nice side job. That led to horrible hip and back pain. He heard about Relief Factor. Decided to give it a shot. Within 4 days, his pain pretty much subsided.

He continued to get better over time. Rob summed it up, saying. Being pain-free is indescribable. Thank you!

I know the feeling. Relief Factor is a daily supplement that helps your body fight pain naturally by fighting inflammation, which is the source of most of the pain in our bodies.

And, frankly, a lot of our disease. It's 100 percent drug-free, developed by doctors to help reduce or eliminate pain.

And over a million people have tried Relief Factor's Quick Start kit. Seventy percent of them have gone on to order it again and again.

So make 2025, the year of feeling good and living great. Get their thee-week Quick Start for only 19.95. That's less than a dollar a day. 1-800-4-Relief.

1-800-4-Relief. ReliefFactor.com.

Ten-second station ID.
(music)

GLENN: I want to be clear at this point in my rant, of what this is really about. What's really happening in Washington, DC, right now.

This is the Deep State, and all of the corrupt senators, right now, fighting for their survival.

That's all this is.

It is the act of desperate people doing all they can, to stay out of jail. Literally, stay out of jail. You start exposing the corruption in the military-industrial complex.

It goes right to the senators. You start exposing the corruption, and the black ops that are happening in Intel community, it goes right to the senators.

You start exposing what happened next at the DOJ and FBI. It goes right to the senators.

They're all Oversight. Many of them benefited from these things, politically. And in power. They're trying to stay out of jail. This is the ruling class. Democrats and Republicans panicking for the first time in decades, their grip on power is slipping.

Because this president is appointing people in all positions, that are going to go grab it by its roots, and root it out! And show it to the American people. At best, it's -- it's those who have been in bed with the intelligence and military complex.

Who believe at best, that war and American intervention works. Doing all that they can, to keep their secrets and their secret policies, that keep us in these wars, alive.

The problem is: None of their old tricks work. We've had these tricks for over 100 years.

Conspiracy theory. That's a Karl Marx thing. That was used by Woodrow Wilson.

That was used again, by the Soviet Union. And the plants here in the United States.

Call them conspiracy theorists. Discredit them.

Destroy them. You've called us so many names now. We don't believe any of them.

Words don't have any meaning anymore. Your tricks don't work. The smears. The leaks. The media hit jobs.

The fake outrage.

You've played that role too many times. It's a -- no.

It's a Mexican soap opera. A Spanish soap opera. They're so over the top, they're hysterical.

You've played that role too many times.

We know. We know the system is corrupt. We know the game is rigged. And we know there is no moral high ground left for you to stand on.

WEF'S Terrifying Plan to Revive the Great Reset EXPOSED | Ep 409

“By 2030, you will not recognize life on this planet,” Glenn Beck foretells in this episode of Glenn TV. We are at the precipice of a new form of intelligence — but not in human form. There’s a global arms race to find out who will be the first to create artificial general intelligence and then superintelligence. It’s no longer a matter of if it will happen but when and who will pull it off first. The wolves are at the gates. China just unveiled DeepSeek, an AI chatbot that claims it’s on the same level as ChatGPT. Glenn downloaded the Chinese app so you don’t have to, but what he found was dystopian. The other wolf at the gate is the World Economic Forum, which just held its annual gathering in Davos. While this audience helped crush Klaus Schwab’s dreams of a Great Reset and a weaponized ESG system, the WEF elites have a new sinister agenda called the “Collaboration for the Intelligent Age.” Glenn reveals what’s in their plans in their own words. But can the U.S. afford to stay out of the intelligence race while globalist elites plot ahead? Trump put our enemies on notice when he announced the Stargate Project, which got a $500 billion investment in AI infrastructure from Oracle, SoftBank, and OpenAI. This could be the Manhattan Project of our generation, but can we trust the tech titans suddenly flocking to Trump? Big Tech veteran and Brownstone Research CEO Jeff Brown tells Glenn, “No ... they are still actively censoring political content.”

BlazeTV subscribers get exclusive access to Jeff Brown’s entire interview available now at https://get.blazetv.com/glenn/.