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.

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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.

Has THIS Islamist organization BROKEN state laws for YEARS?!

A new report accuses CAIR Action, the political arm of the Council on American-Islamic Relations, of breaking state laws with its political activism. Glenn Beck reviews this story...

Transcript

Below is a rush transcript that may contain errors

GLENN: So let me go over what is -- what's happening with -- with CAIR.

You know, the Founding Fathers were obsessed over accountability.

Because they knew one thing. You know, they did. They must get suggestions from people on, you know, through tweets. They studied every single system of government.

Every single republic that survived. That didn't survive.

Why didn't it survive?

They studied all forms of government. They were trying to come up with something that could -- could set people free.

And they -- they worked really hard on putting our checks and balances in place, because they knew, once power slips into the shadows. They knew, once power slips into the shadows, once influence becomes unmoored from law, what rises is not a republic.

It's a machine. And that's what you're seeing right now. We're not living in a republic. We're living in a machine.

We -- I think we're staring at one of the largest unregulated political machines operating in the United States ever! Okay.

There have been a couple of groups that are doing sweeping investigations, two watchdog groups. One of them is NCRI and the Intelligent Advocacy Network.

And they have concluded now that the political arm of CAIR, he known as CAIR action, has been operating nationwide with no legal authority, to do the things it has been doing for years now.

They're not allowed to raise money. They've been raising money. Coordinating political campaigns.

Not allowed to do it. Endorsing candidates. Not allowed to do it, they're doing it. Mobilizing voters, shaping policy, functioning as a national advocacy network.

They don't have the legal authority to do any of it. And no one has said anything.

Now, according to the report, CAIR action doesn't just have a paperwork problem.

Investigators found, state by state, that it lacks the license, the registrations. The charitable authorizations, required to legally solicit money.

Excuse me. Or conduct political activity, in any of the 22 states in which it operates. Think of that!

I know how serious this is, because I remember what it took to get the license in each and every state, for Mercury One.

So we could operate. We could raise money. We could do things in those states. It's a lot of work. And if you don't do it, you go to jail. And they find out pretty quickly.

Okay?

22 states, they operate not one, zero legal authorization.

In Washington, DC, the city where CAIR action is incorporated, the department of licensing and consumer protection told investigators, they have no record of CAIR action ever obtaining the basic business license required to solicit funds or to operate.

Imagine how long would you last in business, especially if you were controversial.

How long would you remain in business, if you never had a business license?

You think somebody would figure that out?

In a sooner time than I don't know. A couple of decades!

This report means, that the organization if true, is engaging in unlicensed inner state solicitation.

It has exposed itself to allegations as serious as deceptive solicitation. Wire fraud and false statements to the IRS. These are big things.

And this is not political rhetoric.

Are these phrases written in black and white. In the law.

And by investigators. In California, one of CAIR's most active hubs. The state attorney general has said, the state attorney general of California has said, same pattern here!

The state of California, to say, yep. That's what's happening here.

CAIR action has never registered with California's charitable registry.

Never filed the required CT1 form. And has no authorization whatsoever to request donations. But they've been doing it in California anyway.

Fundraising, selling memberships. Issuing endorsements. Mobilizing voters. All of that has been done by CAIR action. There's no record of any license. Any permission, ever. Going to CAIR. From California. That's according to their attorney general.

Wow!

That's pretty remarkable, huh? How does that happen?

It's not just the coast. It is also happening to the Midwest, the South, the Mountain West. Every state hosting its own CAIR action fundraising page, complete with the donate now and become a member portal, despite no trace of the legal filings required to operate. That's bad!

Now, here's where the stakes rise.

Because CAIR action presents itself openly, as the political arm of CAIR National.

Investigators are now warning that any unauthorized fundraising or political activity.

Could become CAIR's national responsibility as well.

So, in other words, the parent, CAIR itself, might be held responsible.

Meaning, this is want just a rogue subdivision.

This could implicate the entire National Organization of CAIR.

Now, this is happening at the same time it's coming under national scrutiny. It's also Texas.

And I think Florida have designated the group a foreign terrorist organization. Members of Congress are now asking the IRS, the Treasury, the Department of Education to investigate all of its partnerships, all of its financing, all of its influence operations. I mean, I think they're going to be in trouble.

How long have we been saying this?

But every time, I have pointed out anything about CAIR, I have been called an Islamophobe, which shuts everything down. That is a word, developed by people like CAIR, to shut people down, so you'll never look into them.

So what happens next?

First of all, the reports have to hold up.

Regulators now have an obligation. Not a choice. An obligation to act!

State attorneys general in these 22 states, they might pursue fines, injunctions, criminal referrals.

All of them need to take action!

The IRS, needs to take action. Investigate tax exempt fraud. Treasury Department may review foreign influence or money flow violations.

Anything coming from overseas.

Oh, I can't imagine it. They're so buttoned up, right now.

DC regulators may determine whether CAIR actions entire fundraising operation has been unlawful from the beginning.

But here's the deeper question. And it's not bureaucratic. This one is constitutional.

Can the United States tolerate an influence machine, that operates outside of the legal framework, designed to prevent corruption, foreign leverage, and untraceable money?

If I hear one more time, talking about how AIPAC has just got to be investigated. Fine. Investigate.

I'm not against it.

Investigate.

Why aren't you saying anything about CAIR?

It feels like it might be a tool in the hands of a foreign operation.

Why aren't you saying anything about this?

Because here it is! It's not like, hey. I wonder why.

This is it! This is it! This isn't about silencing CAIR. Muslim Americans are -- that are full citizens, they have every right to speak. Every right to vote. Every right to organize. Participate in public life. No question! They can disagree with me, all they want.

But no organization. None! Not mine. Not yours. Not theirs. None. Should operate a nationwide political network, in the shadows and be immune from all of the guardrails that every other group must follow!

That's called a fourth branch of government!

That's how a fourth branch goes.

By the way, CAIR has placed all kinds of people in our Department of Homeland Security. Et cetera, et cetera. This organization has done it!

This is -- you cannot have a fourth branch of government.

They must abide by the laws.

No -- you can't have a branch that nobody elected. Nobody oversees.

Nobody holds accountable.

We talked about this yesterday, on yesterday's podcast. So what needs to happen is total transparency. CAIR action has to release its filings. Its donor structure. Its compliance records, if they exist. Equal enforcement under the law. I don't want them prosecuted in special ways.

Look, if AIPAC is doing the same thing. AIPAC should be prosecuted exactly the same way.
I want it equal. I want constitutional rule.

If conservatives, if Catholics, pro-Israel, environmental, Second Amendment groups, if they have to comply by the state law, so does CAIR action.

And if CAIR action has to do it, so do the Second Amendment groups and environmentalists, and pro-Israel and conservative groups. The law cannot be selective. It can't be!

I don't know how that's controversial in today's world. But somehow or another, they will find a way.

The Feds have to review all of this. If the report is accurate, the IRS and the Treasury have to determine whether false statements or unlicensed interstate solicitations have occurred.

Americans deserve to know what exactly, who is influencing our elections. Who is shaping our policy? Who is raising money in their state?

Especially physical the organization claims political authority, that it doesn't legally possess.

Because history will teach us one unchanging lesson. When a republic stops enforcing its own laws, someone else will always step in to fill that vacuum because power abhors a vacuum!

Unregulated, political power abhors a free people. So while it's about CAIR, it's not about Muslim Americans. It's not about religion.

As always, at least on this program, we try to make it about the rule of law.

One standard for everyone or no standard at all!

And that more than anything, will determine whether or not our institutions remain worthy of the freedom and responsibility that we have entrusted to them.

Glenn Beck WARNS Democrats Will Return with VENGEANCE in 2026 | Glenn TV | Ep 473

America is entering a year of historic upheaval from Charlie Kirk’s assassination and the spiritual shock that followed, to Trump’s tariff revolution, China’s rare-earth war, collapsing energy grids, AI displacement, and the looming fights over Taiwan and Venezuela. Glenn sits down with BlazeTV hosts ‪@deaceshow‬ and ‪@lizwheeler‬ along with his head researcher Jason Buttrill, to break down the biggest stories of 2025. Plus, they each give their most explosive prediction for 2026 that could shape our politics, economy, national security, and civil rights in ways Americans have never experienced before.

Trump Just SHATTERED the “Expert Class” - And the Deep State is in Total Panic

For nearly a century, Washington DC has been ruled by an unelected “expert class” operating as an unconstitutional fourth branch of government — accountable to no one, removable by no president, and shielded from all consequences. Glenn breaks down why Trump’s firing of the Federal Trade Commissioner could finally dismantle the 1935 precedent that empowered technocrats, how Ketanji Brown Jackson exposed the Supreme Court’s embrace of expert rule, and why America cannot survive a government run by people who never face the voters and never pay for their failures.

Transcript

Below is a rush transcript that may contain errors

GLENN: Okay. So President Donald Trump fired the federal trade commissioner Rebecca Slaughter. Federal Trade Commission is an administrative position. I mean, this is under -- the head of the federal trade commission is a cabinet member.

And if the justices uphold Trump's firing of Slaughter, that will overturn a precedent that was horrible, that was set in 1935. Remember, 1935, we're flirting with fascism. You know, everybody thinks. Because they haven't seen the horrors of fascism yet.

Everybody thinks fascism is neat, blah, blah. So what they do is they say that this is an independent person. And the president can't fire them. Because they're, you know, an independent agency.

Well, wait. That would make a fourth branch of government. Our Constitution is really clear.

There is no such thing as a fourth branch of government. Right?

So that's what they're deciding. Now, here is Ketanji Brown Jackson, who is talking about how we really need to listen to the experts. Cut four.

VOICE: Because presidents have accepted that there could be both an understanding of Congress and the presidency. That it is in the best interest of the American people to have certain kinds of issues, handled by experts. Who, and I think you -- in your colloquy, Justice Kagan, have identified the fact that these boards are not only experts, but they're also nonpartisan. So the -- the seats are actually distributed in such a way, that we are presumably eliminating political influence because we're trying to get to science and data and actual facts, related to how these decisions are made.

And so the real risk, I think, of allowing non- -- of allowing these kinds of decisions to be made by the president, of saying, everybody can just be removed when I come in, is that we will get away from those very important policy considerations.

VOICE: We will get away from US policy considerations, and it will create opportunities for all kinds of problems that Congress and prior presidents wanted to avoid, risks that flow inevitably, just given human nature, the realities of the world that we live in.

GLENN: Okay.

Now, remember, what she's saying here is, we have to have experts.

We have to have experts. We have to have experts that don't really answer to anybody. Okay?

They're appointed. And then they're just there. This from a, quote, judicial expert, who cannot define a woman, because she's not a doctor.
She's not a scientist.

She needs an expert to define a woman.
That's how insane her thinking is. Okay?

Now, I would just like to ask the Supreme Court, when you want things run by experts, do you mean things like the State Department, or the counsel of foreign relations, that have gotten us into these endless war wars for 100 years?

Because these are the things that Woodrow Wilson wanted. He wanted the country run by experts.

Okay. So is it like the Council of Foreign Relations, that keep getting us into these endless wars.

Or is it more like the Fed, that directs our fiscal policy, that has driven us into $38 trillion of at the time. We have all powerful banks. That strangely all belong to the fed. And endless bailouts for those banks. Are those the experts that you're talking about?

Or are you talking about the experts that are doctors, that gave the country sterilizations, lobotomies, transgender surgeries. You know, or should we listen to the experts, like the ones that are now speaking in Illinois, to get us death on demand like Canada has, with their MAID assisted suicide, which is now the third largest killer in Canada. MAID, assisted suicide, third largest killer in Canada. Experts are saying, we now need it here, and they're pushing for it in Illinois. Or should we listen to the experts? And I think many of them are the same experts strangely, that brought us COVID. Yeah. That was an expert thing. They were trying to protect us. Because they need to do this for our protection. So direct from the labs in China with the help of the American experts like Fauci. We almost put the world out.

Should we listen to those guys?

Or the experts that brought us masking, and Home Depot is absolutely safe. But Ace Hardware wants to kill grandma. Which are the experts that we want? That we want to make sure that we have in our lives? That they don't answer, or can't be fired by anybody. Because I'm pretty full up on the experts, myself. I don't know.

But you're right. These experts would keep the president in check, and they would keep Congress in check. And you in check!

And the Supreme Court, which would be really great. You know, and you know who else they would keep in check? The people.

So, wow, it seems like we would just be a nation run by experts, and our Constitution would be out the window, because that's a fourth branch!

And if you don't believe me, that, you know, these experts never pay a price. Can you name a single expert?

Give me a name of an expert, that gave us any of the things that I just told you about.

Give me the name. I mean, give me the name of one of them. Give me the name of one of them that went to jail. Give me the name of one expert that has been discredited.

You know, where your name will be mud in this town. Do you know where that came from?

Your name is going to be mud. It's not M-U-D. It's M-U-D-D, that comes from Dr. Samuel Mudd. Okay? He was a docks man. He was an expert. He was that set John Wilkes Booth' broken leg. He made crutches. He let him stay there for a while. He claimed he didn't know him, but he did know him.

In fact, one of the reasons they proved it.

Is because when he pulled the boots off -- when he pulled both of his boots off, right there, in the back, you couldn't have missed it. It said "John Wilkes Booth."

He's like, I have no idea who he was.

Yeah. Well, you knew him in advance. This was a predetermined outpost where he could stay. It's clear you could know him.

The guy was still discredited, we still use his name today. Your name will be mud in this town.

And we think that it's like dirt, mixed with water kind of mud. No, it's M-U-D-D, Dr. Mudd. The expert that was so discredited, went to jail, paid for his part of the assassination of -- of Lincoln.

Give me the name of one of the experts in the last 100 years, that has brought us any of the trials and the tribulations. The things that have almost brought us to our knees. Give me the name of one of them. Can't!

Because once an expert class, they don't answer to anyone. So they never go to jail.

Wow! Doesn't that sound familiar. People never going to jail!

There's a rant that's going around right now, that I did in 2020. And everybody is like, see. He's talking about Pam Bondi.

No, no. I got to play this for you, a little later on in the program. But I want to get to the experts and what the Constitution actually says about that. Because you don't need my opinion. What you need are the actual facts. So you can stand up and say, yeah. I think Ketanji Brown Jackson is an idiot. Okay?

And she's really not an expert on anything. Especially the Constitution. You need the facts, on what the Founders said. Because the Founders would be absolutely against what they did in 1935.

Because that just -- what does it do?

It just sets up a fourth branch of government.

EXPLAINED: Why the Warner-Netflix/Paramount Merger is DANGEROUS for All of Us

The biggest media merger in modern history is unfolding, and Glenn Beck warns it’s the most dangerous consolidation of power America has faced in decades. With six corporations already controlling 90% of the nation’s news and entertainment, a Warner-Netflix or Warner-Paramount megacorporation would create an unstoppable information cartel. Glenn exposes how “too big to fail” thinking is repeating itself, how global elites and “experts” are tightening their grip, and why handing our entire cultural narrative to a handful of companies is a direct threat to freedom. The hour is late — and the stakes couldn’t be higher.

Transcript

Below is a rush transcript that may contain errors

GLENN: By the way, it's never good when you consolidate power. It's never good.

And what is going on now, with this Netflix Warner Brothers paramount stuff, I don't care if Larry Ellison is a conservative or not.

No one should have that much power.

I did a show, gosh, four years ago. I don't even remember when I did it.

We looked it up. In the 1980s. 19 percent of American media was owned by over 50 companies.

Forty years later, 90 percent of the media is watched and controlled by six companies.

National Amusements, the Red Stone Family controls CBS, CMT, MTV, Nickelodeon, gaming and internet. Simon & Schuster Books. That's all one.

Disney, ABC, ESPN, History Channel, Marvel, Star Wars, video games and print.

TimeWarner controls CNN, Warner Brothers, HBO, Turner, video games, internet, and print media like TIME. Comcast, MSNBC, NBC.

CNBC, Telemundo, the Internet.

New Corp. Fox. National Geographic. Ton of others. Sony, with a ton of movies, music and more. The big six. They're valued at nearly $500 billion.

Now, this is something I put together five years ago. So I don't even know. This is probably not even valid even today.

And now we're talking about Netflix, Warner Brothers. Paramount, into all of these one giant corporation. It's wrong! It's wrong!

We can't keep putting all -- everything into the hands of just a few! It's what's killing us!

We've got to spread this around. We can't -- the government cannot okay mergers like this.

They're big enough he has

What happened -- what happened when the banks went under, or almost went under in '08. What did they say the problem was?

They said the banks are too big to fail.

Too big to fail.

Because they were providing all of the services, everybody needs. All the time. And there's only a handful of them.

So if they fall, then everything falls.

Right?

That was the problem. So what did we do to fix it?

We made them bigger!

We let them merge with other banks, and gobble up other things!

And started taking on the local banks.

And so now, your banks that were too big to fail. Are now even bigger. And their failure would be even worse!

What is wrong with us?

Seriously, we're not this stupid.

We're not this stupid.

I think we're just this comfortable.

We just think the experts have a plan. No. The experts don't have a plan.

Their plan is stupid. Their plan is to make it bigger.

Every time it fails. Make it bigger. Push it up.

Make it more global.

No. Haven't you seen what the entire world is like?

The entire world is over-leveraged. The entire world is on the edge.

The entire world is being redesigned.
So what do we do? We don't allow them to make things bigger! We need to start taking more individual and local control of things. They're making it bigger. Which will make the problem bigger. And make the problem so big, you won't be able to do anything about it, because all the experts. All of the heads. They'll all -- there will be six of them. And they will all be sitting in one room.

And they will all be making the instigations. And with them, making those decisions will be all the heads of all the countries around the world, that you're not going to have a say in any of that. They're already trying to do it with the WEF.

But if -- if the Supreme Court says, no, experts matter. And the president can't fire them. You will not have any control over anything!

We're at this place, where we can back out. We can turn around.

We can do it.

It's not too late. But the hour is growing very late.

I don't know about you, I don't like being this.

Up to the edge, you know what I mean?

I would rather have lots of breathing room, between me and the edge of the cliff.

But we don't have that anymore.

Everything has to be done right.

And we have to pay attention.

And the worst thing we can do is make things bigger.

Dream big, think small.