Glenn explains that he has certain ‘trip wires’ — signs that it’s time to prepare him and his family for hardship — and one of those warnings may be presenting itself today. Russia recently asked China for economic assistance as Putin continues his invasion of Ukraine, leading us one step closer to world war. But, Glenn says, we are ALREADY in a world war — a financial one that centers entirely around currency. In this clip, he explains how China is positioning itself to take power away from the U.S. dollar. And, if successful, not only will America face inflation levels far worse than today but a potential collapse of the U.S. dollar as well…
Transcript
Below is a rush transcript that may contain errors
GLENN: Okay. There's a couple of things that are going on, that you should know about. First of all, Russia has bombarded a Ukrainian military range, near the Polish border, killing 35. Russia also requested military and economic assistance from China. This is according to the US. That's really good news.
That's really good news.
China and Russia are beginning to form their alliance. And in that alliance, North Korea, and Iran, and I believe eventually, Saudi Arabia.
And maybe -- maybe, if we're really lucky, India.
Pakistan will go that way. And you will have an axis and allied power.
I would bet that most of Africa goes their way as well.
So now, China has said, no, no, no. We -- Russia calling us for help. We don't even know what you're talking about.
Quote, we've never even heard of that. Uh-huh.
Also, this weekend, Iran launched 12 missiles.
And those 12 missiles landed all around a U.S. consulate. The good news is the consulate wasn't damaged. Nobody was killed.
They launched 12 ballistic missiles against our consulate.
And they said, hey. This is something to do with those -- those Jews.
Darn, those Jews. They sent their Mossad in. And they killed a couple of people of ours.
Okay. So what do we have to do with that?
Why are you bombing the streets around the consulate, not killing anyone?
I personally think, this is another test of the United States. Can we do this? While we're in nuclear negotiations with Iran. And will they still sit at the table. This is another test of our president. His resolve. And what he's willing to take.
So now, let me get to the -- let me get to the big news this weekend.
We are edging closer and closer to a world war.
And we're already in a world war, when it comes to the dollar.
This is really critical. This is one of those tripwires for me.
I have been trying to come up with tripwires of when I say to my family, okay.
All right.
Everybody in the car. You know, we're going underground. What are the tripwires that I'm looking for?
One of them is a spreading of this war. If this war starts to spread into other countries, that's a big tripwire for me, that says, we're now headed towards a world war -- a World War III.
And it's going to get serious. A serious attack on our power grid is another one.
And? A serious -- a serious attack on the U.S. dollar.
When you start to see China and Russia coming together, and putting together a -- an alternative to the petrodollar, you have a real problem.
Now, this might take me a while to explain this. But I want to -- I want to show you, where we've been, what the dollar -- why everybody has the world's reserve currency, as the U.S. dollar.
Bretton Woods. Then I want to tell you what happened this weekend. Because a major tripwire was crossed.
So the -- the -- the petrodollar is why we have our dollar. Our greenback. In the banks of almost every foreign country. In fact, I think every foreign country. If you want to buy oil, especially from OPEC, it must be purchased in U.S. dollars.
Why do you think Hillary Clinton said, we came, we saw. We killed him.
Remember that?
She was laughing about the death of Gadhafi. We were involved in that death, absolutely.
He was dragged in the streets by his own people. But we weakened him. Why did this happen?
Why did Gadhafi?
Why did the United States want Gadhafi out of there?
We were all saying, this is destabilizing the Middle East. What are you doing?
We did it, because he said, we're going to start taking euros for Libyan oil. Okay?
No, you're not. No, you're not. We have a deal with OPEC in Saudi Arabia.
You can sell oil. We'll provide you arms and everything else.
And we'll buy your oil, and we'll continue to buy your oil. But you only sell oil, in U.S. dollars. So that means, any time a country wants to buy oil, from OPEC, they have to take their dollar, buy U.S. dollars. Buy the oil, okay?
So you can't buy oil outside of a U.S. dollar. That's why everybody has the U.S. dollar.
It's oil makes the world go around.
It's not gold. It's oil.
So if somebody starts to come off our dollar, and starts buying oil, with something else other than the U.S. dollar, we usually kill them.
Or we isolate them. Or we depose them. We do something, so that doesn't happen.
Why?
Because if these countries, that hold all of these dollars, 80 percent of all printed money, is overseas. So if this -- the dollar, which is held in all of these central banks, and all of these banks, all over the world. If they start selling those dollars, and those treasuries. All of that money rushes back here to the United States.
What does that mean?
Well, if 80 percent of our money is being held in banks, and it starts to rush back here, it means, out of control inflation.
If you think inflation is bad, we're talking hyperinflation. It will mean a dollar collapse.
You just -- it won't be worth anything.
So we don't want to do anything that upsets the petrodollar thing.
Yet, what happens to the petrodollar, if we stop buying gas?
And oil?
And we tell the whole world, you have to be green? Hmm. Has anybody just thought of that?
Even if you care about the planet, and you think it's the most important thing, and people should eat rocks, and who cares if they live or die. You should care about the petrodollar.
Is anyone pegging it to something else?
Because we got off of gold. Now, one more thing you need to know the history of how we got here.
Bretton Woods happened right after -- it's a town in -- where is it?
New Hampshire, I think. Bretton Woods. The whole world got together after World War II, because we had all the gold.
Because Europe needed to get you will kinds of things, you know, armaments and tanks and everything else. They didn't have any money. So we were just like, you know what, send us your gold. Send us your gold, we'll send you the tanks. And airplanes, and everything else.
Just send us your gold. So we had all of the gold for the whole world in Fort Knox. That's why we said, we'll be the gold standard.
We'll never break the gold standard. You just take our money. You can buy oil with it.
It's the only currency you can buy oil with. And we're on the gold standard. 1972 comes along, and that's when Bretton Woods 2 happens. And that's when the United States says, by the way,, you know what, we want war and the great society, so we're coming off of the dollar standard. Or, the gold standard.
But we'll never, ever really abuse it. And here's the good news: We're going to become consumers. Right now, we've made refrigerators and televisions and cars and everything else, that the world is buying.
But now, because we want the war, and we want a great society. We're going to come off that. And we're going to now stop making those things. Ship our jobs overseas. And we'll buy your products.
So we'll become a consumer nation. And you'll be able to get rich. Just hang on to our dollar.
That's Bretton Woods two.
We are now approaching Bretton Woods three.
And the world will change as much as it did in World War II.
This is something that unless you lived through World War II, you have not seen anything like what is coming.
Here's what happened, over the week.
Well, let me take one minute. And then I'll come back and tell you what happened over the weekend. It's a tripwire, at least for me.
GLENN: Okay. There's a couple of things that are going on, that you should know about. First of all, Russia has bombarded a Ukrainian military range, near the Polish border, killing 35. Russia also requested military and economic assistance from China. This is according to the US. That's really good news.
That's really good news.
China and Russia are beginning to form their alliance. And in that alliance, North Korea, and Iran, and I believe eventually, Saudi Arabia.
And maybe -- maybe, if we're really lucky, India.
Pakistan will go that way. And you will have an axis and allied power.
I would bet that most of Africa goes their way as well.
So now, China has said, no, no, no. We -- Russia calling us for help. We don't even know what you're talking about.
Quote, we've never even heard of that. Uh-huh.
Also, this weekend, Iran launched 12 missiles.
And those 12 missiles landed all around a U.S. consulate. The good news is the consulate wasn't damaged. Nobody was killed.
They launched 12 ballistic missiles against our consulate.
And they said, hey. This is something to do with those -- those Jews.
Darn, those Jews. They sent their Mossad in. And they killed a couple of people of ours.
Okay. So what do we have to do with that?
Why are you bombing the streets around the consulate, not killing anyone?
I personally think, this is another test of the United States. Can we do this? While we're in nuclear negotiations with Iran. And will they still sit at the table. This is another test of our president. His resolve. And what he's willing to take.
So now, let me get to the -- let me get to the big news this weekend.
We are edging closer and closer to a world war.
And we're already in a world war, when it comes to the dollar.
This is really critical. This is one of those tripwires for me.
I have been trying to come up with tripwires of when I say to my family, okay.
All right.
Everybody in the car. You know, we're going underground. What are the tripwires that I'm looking for?
One of them is a spreading of this war. If this war starts to spread into other countries, that's a big tripwire for me, that says, we're now headed towards a world war -- a World War III.
And it's going to get serious. A serious attack on our power grid is another one.
And? A serious -- a serious attack on the U.S. dollar.
When you start to see China and Russia coming together, and putting together a -- an alternative to the petrodollar, you have a real problem.
Now, this might take me a while to explain this. But I want to -- I want to show you, where we've been, what the dollar -- why everybody has the world's reserve currency, as the U.S. dollar.
Bretton Woods. Then I want to tell you what happened this weekend. Because a major tripwire was crossed.
So the -- the -- the petrodollar is why we have our dollar. Our greenback. In the banks of almost every foreign country. In fact, I think every foreign country. If you want to buy oil, especially from OPEC, it must be purchased in U.S. dollars.
Why do you think Hillary Clinton said, we came, we saw. We killed him.
Remember that?
She was laughing about the death of Gadhafi. We were involved in that death, absolutely.
He was dragged in the streets by his own people. But we weakened him. Why did this happen?
Why did Gadhafi?
Why did the United States want Gadhafi out of there?
We were all saying, this is destabilizing the Middle East. What are you doing?
We did it, because he said, we're going to start taking euros for Libyan oil. Okay?
No, you're not. No, you're not. We have a deal with OPEC in Saudi Arabia.
You can sell oil. We'll provide you arms and everything else.
And we'll buy your oil, and we'll continue to buy your oil. But you only sell oil, in U.S. dollars. So that means, any time a country wants to buy oil, from OPEC, they have to take their dollar, buy U.S. dollars. Buy the oil, okay?
So you can't buy oil outside of a U.S. dollar. That's why everybody has the U.S. dollar.
It's oil makes the world go around.
It's not gold. It's oil.
So if somebody starts to come off our dollar, and starts buying oil, with something else other than the U.S. dollar, we usually kill them.
Or we isolate them. Or we depose them. We do something, so that doesn't happen.
Why?
Because if these countries, that hold all of these dollars, 80 percent of all printed money, is overseas. So if this -- the dollar, which is held in all of these central banks, and all of these banks, all over the world. If they start selling those dollars, and those treasuries. All of that money rushes back here to the United States.
What does that mean?
Well, if 80 percent of our money is being held in banks, and it starts to rush back here, it means, out of control inflation.
If you think inflation is bad, we're talking hyperinflation. It will mean a dollar collapse.
You just -- it won't be worth anything.
So we don't want to do anything that upsets the petrodollar thing.
Yet, what happens to the petrodollar, if we stop buying gas?
And oil?
And we tell the whole world, you have to be green? Hmm. Has anybody just thought of that?
Even if you care about the planet, and you think it's the most important thing, and people should eat rocks, and who cares if they live or die. You should care about the petrodollar.
Is anyone pegging it to something else?
Because we got off of gold. Now, one more thing you need to know the history of how we got here.
Bretton Woods happened right after -- it's a town in -- where is it?
New Hampshire, I think. Bretton Woods. The whole world got together after World War II, because we had all the gold.
Because Europe needed to get you will kinds of things, you know, armaments and tanks and everything else. They didn't have any money. So we were just like, you know what, send us your gold. Send us your gold, we'll send you the tanks. And airplanes, and everything else.
Just send us your gold. So we had all of the gold for the whole world in Fort Knox. That's why we said, we'll be the gold standard.
We'll never break the gold standard. You just take our money. You can buy oil with it.
It's the only currency you can buy oil with. And we're on the gold standard. 1972 comes along, and that's when Bretton Woods 2 happens. And that's when the United States says, by the way,, you know what, we want war and the great society, so we're coming off of the dollar standard. Or, the gold standard.
But we'll never, ever really abuse it. And here's the good news: We're going to become consumers. Right now, we've made refrigerators and televisions and cars and everything else, that the world is buying.
But now, because we want the war, and we want a great society. We're going to come off that. And we're going to now stop making those things. Ship our jobs overseas. And we'll buy your products.
So we'll become a consumer nation. And you'll be able to get rich. Just hang on to our dollar.
That's Bretton Woods two.
We are now approaching Bretton Woods three.
And the world will change as much as it did in World War II.
This is something that unless you lived through World War II, you have not seen anything like what is coming.
Here's what happened, over the week.
Well, let me take one minute. And then I'll come back and tell you what happened over the weekend. It's a tripwire, at least for me.