RADIOJanuary 09, 2024

How did the government FAIL THIS MUCH on 2023 jobs reports?!

After spending all year boasting about how many jobs it has created, the Biden administration has quietly DELETED 439,000 jobs from its 2023 jobs reports. These revisions mean that almost a quarter of all jobs added in 2023 didn't exist. So, what's going on here? Economic and small business expert Carol Roth believes there are 3 possible explanations: Either this was an oddity, laziness, or the admission of a nefarious lie. Carol joins Glenn to break down what she believes is happening and whether this is a sign that a recession is coming. Plus, she reveals the data that people should be paying much more attention to than jobs reports.

Transcript

Below is a rush transcript that may contain errors

GLENN: Former investment banker who went legit. Got off Wall Street and started talking about Main Street.

Hi, Carol, how are you?

CAROL: Yeah. Well, Glenn, thank you for legitimizing. I guess that's the right word.

GLENN: Yeah. So I don't understand the job report.

And how you can make a mistake, this massive, over the entire year.

CAROL: Well, as Mark Twain -- it's attributed to him, anyway. Said, there are three types of lies. Lies, damn lies, and statistics. And this goes back to how data is collected.

How it is modeled. How it's manipulated.

How it's revised. And why it makes absolutely no sense.

I have seen the -- the different reports, and, yes. There has been massive downward revisions.

Obviously, we just got the first December number.

So only 11 months of last year have been reported.

And ten out of the 11 months, have been revised downward.

The scope of that, I looked at multiple smart people's analysis, it's anywhere from 14 percent to 24 percent.

There's a piece everyone agrees on. There's another piece that I can't tell if people are possibly double counting.

But either way, it's just a massive shift.

And the strange thing here, you expect data to be revised based on how it's collected. But, you know, usually that averages out over time.

You know, maybe it's not a perfect amount. But like in 2022, the revisions, I think it was revised, you know, downward for maybe five months.

Then upward with no revisions.

When you netted it out, it was only off by 66,000. Having ten out of 11 months being revised downward. Is either -- an oddity.

It's lazy or nefarious. Those are your three choices.

Pick whatever your favorite door is.

STU: Okay. So. So. But what I understand is, if you -- if you have to revise. You take that into account. Especially if it's repeated a couple months in a row. You start to change the algorithm. And it's like, no. It's slowing. Things need to be slowed down.

Because that's what we keep seeing. So it's -- it's not unusual, to miscount for a while.
Because you're not actually counting. It is a projection.

CAROL: Right.

GLENN: But if you're doing it for a year. It shows that like you said, you're either lazy or you're trying to cook the books.

Because you should have made those adjustments. And what would account for this, is that we're going into a recession. Is that true?

CAROL: That's one possible interpretation. I think it's helpful perhaps for people to understand, you know, how this data is collected and massaged. Because we have these different methodologies. We have, what was called the non-farmed payrolls, or the establishment survey, which is that number that everyone focuses on.

What they do, is they only look at the payroll records of -- last time I checked, it was just shy of 150,000 businesses and government agencies.

And then they take that and put it into reducible adjustments. And all these different models that come up with this projection.

Then there's an entirely different survey, called the household survey, or the current population survey, which only goes about to 60,000 households.

And they're getting their employment status and the demographic data.

And it's very different. Because in the household survey, they're saying, are you employed?

But when they employ out to the, they say, how many people are on the payroll?

So, first of all, the household survey captures things like agricultural workers. People who are self-employed, which we know is a huge portion of the population. That don't have corporations.

Some other things. The establishment doesn't even have any of that. And if you have multiple jobs, that you show up on multiple payrolls.
You're counted multiple times in that survey.

So the data is bastardized, and I would argue not even relevant to how our country's economy is growing, given the large amount of self-employment we have.

But with all of that, we've seen, Glenn. A record high, almost 8.7 million people. Who are holding down full jobs.

We are seeing a loss and, again, the time period is disputed. But over recent months, of 1.5 million full-time workers. And adding 796,000 part-time workers. So going back to your question of recessionary trends. See, those are things that will make you scratch your head saying, that's moving in the wrong direction. But who is picking up the slack for that?

Well, that is the government. And the government jobs keep getting -- the last three months, like 50,000 government jobs, on average, for the last few months. Like, that's not sustainable.

And those are -- those don't have the same level of productivity. Because they're paid for by our tax dollars, and/or the printing of money.

GLENN: Right. Correct.

CAROL: So all those scenarios don't look great in terms of the trends for the economy.

GLENN: Right.

So we haven't seen the numbers for December, but 216,000 jobs were added.

This has not been revised yet, and 52,000 of those were government jobs.

Which brought us to an all-time high of 23 million employees for the federal government. It's an astounding -- astounding --

CAROL: But what I want to say on that. Is that -- as I said, in December, we just got the first print. We haven't gotten the revision to it. Same thing with the previous periods.

They keep revising that down. That means, not only is it 52 over, you know, 216,000.

But if they revise that down, it means, it will be even a larger percentage, that is government jobs.

GLENN: Correct.

CAROL: And that's what we've been seeing in terms of the trend.

Is that the government, and all of the deficit spending, that we're paying for in terms of inflation in our lives.

You know, is really what's creating the differential.

But what's crazy. Jobs haven't even been the issue.

They keep touting this is jobs. And look how many jobs were created.

Even though, many of them were reclaimed. Not created from when they shut down the economy.

But that really hasn't been the issue for quite some time for people.

It's really been the inflationary pressures. And the cost of living. Which is why so many are even tuned into this. And don't notice. Where we have these massive revisions.

GLENN: I have to tell you, I am in Florida right now.

And specifically, I'm in -- in West Palm.

And it is one of the bigger bubbles, I've seen.

Florida is a bubble in and of itself.

Here in West Palm.

It is.

I mean, there's a guy. I found out at dinner last night. There's a guy who bought a bunch of houses right on the ocean.

He bought $500 million in land. And he's building a 500 million dollar house. And he's not a seller. And, you know, he probably has -- you know, he probably has two or three children. So you can understand this.

CAROL: Right.

GLENN: You're in Florida. Especially in places like this. Boy, it doesn't feel like anything is wrong.

With the economy.

CAROL: Right. So this is the have and the have-nots. And it's part of what makes it so difficult, when you talk about the economy.

Because what we've witnessed over the last decade and a half, is the massive fed and government policy and youth wealth transfer from Main Street America, to the wealthy and well-connected.

So when you go to the West Palm beaches, when you go to the -- you know, these little bubble areas, in Southern California, and what not, you know, the prices of real estate are going through the roof. People are driving McLarens.

You know, it's this crazy display of wealth, that they have want to be through the inflation of the asset. Because there were these massive asset holders. At the same time, that the people, who are on Main Street America, didn't have the opportunity to participate in that upside are seeing their cost of living go through the roof. And not being able to keep up.

So it's really a tale of two different economies. When you average that amount, with this massive wealth. At the top. It looks like things are -- you know, kind of moving along.

And that's why, I don't think that the way that we portray data, is fair or gives us really a great sense of what's happening for most of the country.

And why some people in the Democratic parties seem to be scratching their heads. And going, I don't understand.

This is a fantastic economy. Bidenomics works great, when we know that the middle class is getting crushed.

GLENN: Well, if you're living in the Washington, DC, area, of course, there's lots of employment.

Because the government is employing lots of people.

CAROL: Yes, they are. And they are doing it on the backs of adding more at the time and more inflationary pressure.

That is, you know, been -- really, what we've been paying for quite literally. Particularly over the past couple of years.

So there is this delusion, and it's happening on Wall Street. It's happening in these different bubble areas. That people who are in these areas that have created this tipping of the playing field. That has tilted things in their direction. They're going, this is working great. I don't understand why everybody is complaining. When they have been doing it, at the expense of free true -- fair and true capitalism, that has been impacting the lives of the people who are working and who are the back bone of our economy.

GLENN: So I'm driving in some of these neighborhoods. I was driving by Mar-a-Lago yesterday. And that was from the 1920s. A lot of these homes, that are huge like this, were from the 1920s. And those were the Jay Gatsby. F. Scott Fitzgerald days. And I started thinking.

When did the Newport, Rhode Island, thing fall apart? Was that during the Depression, when people started out like not living like that anymore? Do you know?

CAROL: I don't think so.

Because just being a Jackie Kennedy researcher, and if you think about all the time that -- that their family and the Kennedys spent out.

And the Hammer Smith Farm, where she got married, that whole area.

That was pretty extravagant, and their marriage was in the -- in the early '50s, '53-ish. So I don't think it was at that point in time.

GLENN: Uh-huh. Uh-huh.

All right. Well, there was something else that I want to get to. Can we take a quick break?

And then we'll come right back in just a minute. Stand by.

We're talking to Carol Roth about the economy. So I don't know if you saw the Wall Street Journal today. But the headline. Do you have that headline by any chance, Stu.

STU: Don't have it handy, no.

GLENN: Yeah. The headline was, the latest dirty word in corporate America.

ESG.

CAROL: Yeah.

GLENN: It says, following the year of simmering backlash. Political pressure. And legal threats over environmental, social, and governance.

A number of businesses, corporate have shed ESG.

Now they're just calling it corporate responsibility. Is this a win, Carol?

Or is this just a shell game?

CAROL: So I would -- can I answer both? Can I give all of the above?

GLENN: Okay.

CAROL: I definitely think that there is some win. And I think the part that we need to take to heart is that by the noise that you've made, Glenn. And the others have made. And the action that your listeners and others have taken.

And talking about this, and really putting it under a microscope.

Has -- it's given pushback to corporate America. And they're seeing, that it's not only not working. That it's detracting from their businesses.

Even BlackRock. Which we know has been sort of patient this year in the US.

They're laying off a bunch of employees.

Something around 600 employees, mainly in their ESG division because of the pushback.

So I do think, that piece is a victory. But it's kind of like the ant problem, that many of us have in our house.

That, you know, you can spray them. Kill them. In one season.

But they will come back the next season.

So you still have to bring the exterminate out again.

And unfortunately, that's the case with ESG.

It's something that you and I had begun to talk about.

You actually brought to my attention. Were these natural asset companies. That are looking to, you know -- same kind of went.

Bastardize capitalism.

Use corporate money.

Use pension money, to buy control, or management of land.

Whether those be public or private, to try to take them out of productive use. Threatening our food and our land and our water.

GLENN: That's insanity.

They decided to wait on that, right?

They didn't say, no. They're not going to do it.

They decided to wait. The SECC decided. Correct?

CAROL: So they were due with the rule January 2nd, and they have extended the comment period to January 18th. I sent comments. I actually posted them on my Twitter feed.

If anyone wants to, they are welcome to copy and paste and send them in to the SECC.

Or to anyone, whether it be their representatives, whether it be their state treasurers, whether it be their governors.

I know that Marla Oaks, from Utah, who you've had -- one of the key voices against it.

You know, we need more people like that.

Because not only do we need the SECC to say, no. The New York Stock Exchange can't list them. That's just one way that these groups connect.

It doesn't mean that they don't exist. It doesn't mean that they can't go to the private market. Or sovereign wealth fund, you know, privately to try to do this.

So we really do need legislation that says, this is something that needs to go away.

So a little bit of a celebration, Glenn.

But the job isn't done yet.

“15 Smoking Guns”: Is Mahmoud Khalil a THREAT to America?

The Left and Legacy Media insist that anti-Israel activist Mahmoud Khalil, a green card holder who helped organize protests at Columbia University in the wake on the Oct. 7, 2023, Hamas attack on Israel, is just “supporting Palestine.” But Capital Research Center Investigative Researcher Ryan Mauro argues that the evidence is clear: he poses an actual threat to Americans’ safety and should be deported. Ryan lists 15 “smoking guns” that Khalil and his activist group, Columbia University Apartheid Divest, support taking radical action against Western civilization. They seem to have an affinity for arson, his group called for a repeat of the Oct. 7 attack on US soil, and one group in the coalition even declared itself a literal part of Hamas.

Transcript

Below is a rush transcript that may contain errors

GLENN: Ryan, welcome to the program, how are you? Right, hey, it's great to be with you.

GLENN: It's great to be with you. This is an amazing article, the 15 smoking guns, that show, this guy is clearly a terrorist threat.

I think I got to number three, and I'm reading this. Like, how is this even an argument? How this guy even here, still? Honestly, why isn't he even in jail, here in America? Can we go through these, one by one?

RYAN: Yeah, absolutely. And I think -- I would preface this by saying, honestly, we're thankful that he's deported, and we can all applaud that. But we shouldn't necessarily be impressed by that.
(laughter)

GLENN: It is a pretty low bar here.

RYAN: It is. And the fact that the Trump administration hasn't involved to any degree that I'm aware of. Those are the monitored groups. That's why I have this information available. They came out with this, and kind of got put on the defensive. And now Mohamed Kahlil, a group he's a part of that we will talk about, is more powerful than ever. All the pro-Hamas seditionist groups are fundraising off of this.

GLENN: This is crazy.

RYAN: And this is -- they didn't work with those to justify what they were doing. They just kind of did it.

GLENN: Okay. So let me take this point by point with you.

First point, Kahlil's group seeks to incite and carry out terrorism on US soil, including copying the October 7th atrocities.

RYAN: Yeah. So the group that he is a leader of, Columbia University apartheid. Which is actually a coalition of 100 student groups.

They post odd their social media base. Multiple times, that they were telling their comrades, involved in this little intifada. Primarily to the United States.

They talk about Israel. To, quote, look to the tactics of the Palestinian resistance, which were inspired action, and to rise like a flood. When they think flood, what they're doing, is they're referring to the October 7th attacks because Hamas refers to it as Operation Jerusalem Flood.

So that's how that would be interpreted. October 7th, good idea, for US soil.

GLENN: Number two, his group praised the October 7th attacks and Islamist-backed violent uprisings in Bangladesh as part of the global intifada against American imperialism.

JASON: Right. So they view themselves as part of a global intifada that is both Marxist, Communist, actually some anarchist elements, and Islamist. It's all one thing.

They view this as a part of a network.

GLENN: His group said, quote, we must genuinely threaten the state, I imagine that's America.

So much, we are killed, jailed, tortured, disappeared, and targeted in America. End quote.

RYAN: I think they -- the goal is doing that. To approve a sacrifice. They called it to achieve liberation in America. What they're doing, they and their comrades talk about, they refer to America as turtle islands. And basically, if a native -- what they're saying, just as they want to replace Israel with an Arab state of Palestinian, their goal is to replace the United States with a Native American state of Turtle Island.

GLENN: Give me a break. First of all, can we just -- I'm sorry to do this here. But let me --

RYAN: Go for it.

GLENN: Can we stop with the Native Americans were so much better than every other human being alive?

They were humans.

They were warring all the time, just like every other race and group of people. They were enslaving. If they didn't kill you in war, they enslaved you after war.

Please, can we stop!

Humans are humans. This -- this ridiculous -- well, these were Native Americans. And so they were perfect.

Shut up!

Grab a book. Read a little history. Okay. I'm sorry. Go ahead.

RYAN: No. Thank you, for saying that. Especially -- a lot of these people, they hate religion.

But they model the characterization of Native-Americans on Jesus Christ.

When you look at, they describe it as a gay man. And Native Americans have decided. Because they were pure. They were killed by capitalism. But anyway --

GLENN: So is there any -- I mean, are people that stupid, that they think, that a Marxist, communist, Islamist group is going to hand over America?

To the Native American nations?

Are they that -- I mean, really?

RYAN: I mean, watching the way the protesters talk on their personal social media pages.

A lot of this is performative.

GLENN: Yeah.

RYAN: And it's more about they feel scared for the future. For legitimate reasons. They feel there's no safety net. They feel no one is coming to help them.

So they drive to which ever group is talking about the most far sweeping change.

It's not what they're -- and then saying, oh, that's a great idea. Let me join that group. It's more, I'm scared, because my God, what am I going to do? I don't know if I can -- and they speak the language, and they bring them in.

GLENN: Number four, Kahlil's group called for attacking the military and the police, en masse. And dismantling the state infrastructure, assuming it's America.

RYAN: Yeah. And you can tell. Because on a lot of these posts, these are several together. So they do keep bringing them back to America.

They will cite the violence in Bangladesh, or what Hamas did as an example to follow.

So that particular post, after going over and praising the Bangladesh were attacking the police and military and surveillance state.

They have the obligation to beat them there. After saying, this is -- they escalated in this way.

GLENN: So if this isn't -- if this hasn't been bad enough for you to shut the pie hole. To say, this guy, he's just a freedom fighter. There's no hope for you. Let me go on. Number six. Kahlil's group seeks the eradication of Western civilization!

RYAN: Yeah. I mean, what more can you say? It's right there. And they talk about burning a lot of things down, too. You'll notice that patterns throughout these points. The example they gave is a lot of burning down prisons, burn down this, burn that.

They're a big fan of anarchists. Or arsonists. Arsonist terrorists.

GLENN: I have a former Prime Minister of England, Liz Trust coming in, today, for a show. And I can't wait to talk to her because I would like to hear her opinion on, what the hell is wrong with all of you people over in Europe, and in England.

How do they not see that they're going to be an Islamic state, if they don't turn this around, right now.

And it may be too late.

I mean, how -- how are we missing this in the West.

RYAN: I think, part of it, is that there's an ability to recognize the degree to which all of the extremes, all the seditionist elements are kind of coming together.

It seems like, in people's minds. They're in separate boxes.

How the Islamists -- sad, but it's not that high.

GLENN: Oh.

RYAN: They're not putting together the anarchists. The white nationalists are increasingly in there. You put it all together, and you rook at the polls that show how many people support them and you add them up, then you will see the totality of the problem.

GLENN: Gosh.

Number seven, Kahlil's group asked violent extremists abroad for help in organizing uprising.

Number eight, his group asked for help from militants in the global south, in achieving its goal of eradicating western civilization. And fighting the fascism, engrained in the American consciousness.

RYAN: There's the Antifa reference. See, it's all coming together.

The antifascism, Antifa reference.

GLENN: Kahlil's group, number nine, threatened to shut down Columbia University, unless it eliminated the police presence on campus and severed all ties to the New York Police Department.

Which if they did that, just in Columbia, that accomplishes so many of the other goals.

RYAN: Yeah. Right. And just it's amazing that the schools even tolerate -- even the threat. How are you led to this on campus, at all.

GLENN: Kahlil's group really likes to see things set on fire. I love that one. Explain.

RYAN: Yeah. That's what I was alluding to before, where they're giving specific examples of what was going on in Bangladesh, that should be replicated. And how they set fire to the state broadcasting networks headquarters. And they set fire to the prison. They set fire to the government offices. Set fire to the state vehicle.

Then there was an arsonist terrorist in California who tried to firebomb a federal building, he firebombed a cop car.

Lit a building on fire. Looted a building. On college campuses. And that's all fine and dandy. They said, that's a wonderful thing, and everyone cheers.

GLENN: Number 11, Kahlil's group had terrorists teach Columbia students.

RYAN: Yeah, so he put together a virtual event. That future to leaders of this group. That anyone that knows this stuff. Thirty seconds, you would know this is a front. For the popular front for the deliberation of Palestine, which is like the Marxist counterpart to Hamas. They work together, and they're both backed by Iran.

To -- and there's some academic exercise. We heard the viewpoint, anything that was challenged. No, just come in, and tell the students what reality is. And that's what they did. And they taught the students that hijacking, that was done by the terrorists, are an inspiring thing.

GLENN: Number 12, Columbia protesters were told to riot by a Chinese communist party entity. And they complied hours later.

RYAN: Yeah. Yeah. Just the -- all you can do is laugh at it. It's so absurd in some cases. So over 100 protesters from Columbia University, went to the headquarters of people's forum, which we know from the Capitol Research Center profile on them, is heavily, if not completely funded by the Chinese Communist Party. Like the leader is over there in China and in Asia. And this is all known and proven.

And so they said, you know what you guys should do? You should riot. And then a few hours later, Kahlil's group goes and they riot. So they're incited by the Chinese Communist Party in that instance.

GLENN: Again, we're talking about a guy, Columbia University student that is -- that is really behind a lot of the stuff, that was happening in Columbia University. All of this really, you know, Jew hatred. Israel hatred stuff.

And the people on the left are going, you can't do that. How dare you do that. Well, yeah. You're -- you're either part of the problem, or you just are ill-informed or uninformed.

You're living in a self-contained box of ignorance. Where there's three more left. And I will get Ryan to comment on those in just a second. First, let me are just take 60 seconds to break and tell you. I've watched the real estate market spin out of control. Right itself. And then spin out of control again. Dozens of times. Over and over and over again.

And it's a minefield to say the least. And any real estate agent that can navigate it halfway well is a successful one.

GLENN: We're talking to Ryan Mauro. You can follow him on X, @RyanMauro.

His website is Ryan Mauro. That's spelled M-A-U-R-O. RyanMauro.com.

And we're down to the last couple of points that you're making in this great op-ed on -- on the Blaze News and Blaze.com.

Let's see. We have 13. Kahlil's Group -- their stated goal is to topple all institutions that benefit from colonial, racial capitalism, and dismantle the state.

JASON: Yeah, so it's an anti-government group, just like the left likes to talk about, the crazy right-wing militia type forces. But then it happens. The Islamist Marxist friendly group, saying the same thing, and civil rights icon.

GLENN: Kahlil's group boasts about vandalism of campus property.

RYAN: Yeah, and I included that just to show people that the same people that do that type of thing, you can't just dismiss it. Like, it's all part of the same thing. So there's broader implications. It's not just about the spray paint.

GLENN: The last one. Number 15, a large part of Kahlil's coalition declared itself a literal part of Hamas. Oh, my gosh.

RYAN: Yeah, so the Students for Justice in Palestine, which is biggest group behind all of these protests, and, by the way, I already spoke to you. I completed by study for Capital Research Center. Where I found over 150 pro-terrorism groups, were behind the protests.

Literally, 150.

So this group is one of them.

And so Kahlil's group is a coalition, and probably the biggest group within his coalition is sue for justice in Palestine, which is nationwide. Which is the biggest group involved in all of this stuff. It's kind of widely known that they celebrate the October 7th attacks, because people were shocked. But people were so shocked, they didn't read the rest of the statement that they put out.

Because the rest of the statement, they actually say -- let me clarify something. The resistance -- we're not saying that we're in solidarity with them. We are saying, we are part of them.

GLENN: Jeez.

JASON: They cleared themselves to be part of a designated terrorist organization, Hamas and you just say the other groups that are involved in October 7th.

They're part of all those groups that illegally -- illegal to be a part of. And here's the kicker that I just recently found out.

Do you know who else is a member of Kahlil's group?

GLENN: Satan.

JASON: Ilhan Omar's daughter.

GLENN: You have to be kidding me.

JASON: She was arrested for her activism with this group. She tweeted that she is an organizer with Kahlil's group, Columbia University Apartheid Divest, and the Students for Justice in Palestine chapter at Columbia.

So think of it this way. Students for Justice in Palestine, since they are a part of Hamas, and then Ilhan Omar's daughter is a part of Students for Justice in Palestine, what does that say about it?

GLENN: What does it say about Ilhan Omar?

JASON: Right.

GLENN: So are these -- because the language is so Marxist. It's strangely almost disarming, instead of it being Allahu Akbar. Which -- what is his center? Marxism? Revolution? Or crazy Islamist?

RYAN: They come all insane. Because I monitored all these extremists, all these divisionists. I call them the seditionist movement. But I bring them together. From the anarchist to the Communist to the Islamist to the white nationalist.

And I can't tell the difference in -- in the -- between them.

They switch out the nouns. But it's all the things. Revolution. Discovering along ethnic, racial, political lines. US isn't a legitimate state.

It's more this guy is aligned with the PFL, the Popular Front Liberation of Palestine, which is backed by Iran. But it's kind of like -- it worked in tandem with Hamas, or as close as they could be. But they're Communists.

GLENN: Unbelievable. I can't thank you enough for everything that you do. I mean, you are fighting the good fight. And doing all the heavy lifting on it, and I really appreciate it.

Ryan. Ryan Mauro. Capital research center. Investigative researcher and counterterrorism expert. You can find this op-ed at the Blaze.com.

Why the Department of Education & USAID Must be Dismantled

President Trump is doing all he can to dismantle the Department of Education and USAID, but the Left is up in arms! For instance, there's Rep. Hank Johnson, who tried to argue in favor of the Department of Education, but ended up revealing his true beliefs about illegal immigrants. Glenn, Pat, and Stu explain how the Dept. of Ed. has really affected our kids and why it, along with USAID, should be exposed for the destructive organizations that they are.

European Union Admits TERRIFYING Truth About Digital Currencies

The head of the European Central Bank just admitted that the EU has been planning to roll out a "digital Euro" for OVER 5 YEARS. Wait, we were told that was a conspiracy theory! But now that it's ready to go, the EU is bragging about it. Glenn explains why CBDCs are a dangerous pivot away from the emphasis on personal freedom that the West has long championed. If the EU adopts a CBDC, it should fracture our alliance, Glenn says. Anybody who's advocating for a currency that the government can PROGRAM and TURN OFF is no friend of America or the Trump administration. But it's not just the EU, Glenn warns. Our Federal Reserve is also developing one. Glenn makes the case that Trump and Congress must BAN THIS NOW.

Transcript

Below is a rush transcript that may contain errors

GLENN: Let me start with Europe. With the president of the European Central Bank. The ECB. I love central banks. Don't you, Pat?
PAT: Oh, they're the best.

GLENN: Pat sitting in for Stu again, who is just so sick.

Yesterday, he was vomiting from all the truffles he was eating on the couch, while he was watching soap operas.

Anyway, Christine Lagarde. She's the president of the Central Bank. It's basically our Fed. And they're all the same. Here's what she said, and it's a lot of blah, blah, blah. So I don't know how long I can take it. I'll summarize it if I can't take it for two whole minutes. But here she is.

VOICE: Nature doesn't like vacuum.

GLENN: Vacuum.

VOICE: And we started working on the digital euro.

GLENN: Hmm.

VOICE: Way back.

GLENN: Way back.

VOICE: Actually when I started my term five and a half years ago. And I'm not claiming, you know, parental -- parentality on the digital euro, because my colleague Benoit Kura (phonetic) had already committed a speech on this matter before I arrived, but I certainly carried on with that project, and subsequently Fabio Panetta on the board, and then Piro (inaudible) who has replaced Fabio.

GLENN: Okay. Okay. Okay. I can't listen to somebody who is talking about Fabio. Look, here's what she's announcing. First of all, let's remember that for years, Christine Lagarde and everybody else, both here, foreign, and domestic, have said that any worry about a CBDC is just a conspiracy theory. They have silenced. They have discredited anyone who warned of the dangers of this. But now, all of a sudden, I guess we all forgot that. Because now they're ready! And the steaks cannot be higher. We, I'm telling you, 18 to 48 months, our whole world is going to be different. They are ready to launch this now, and the stakes for privacy, free markets, and individual liberty, especially anybody who kind of likes the Constitution, they're at risk. Okay? This is a really dangerous pivot that is going on right now, and I think it should fracture our alliance. Anybody who is advocating for small government, personal freedom. You know. Hey. Privacy.

I don't think you should be in bed, and Defending those who are going down the road of Europe right now.

Years ago, CBDC. That's central bank digital currency. That's like Bitcoin. Except, the point of Bitcoin is, it's untraceable.

It's completely private. And nobody can stop you from using it.

CBDC. That's a tinfoil hat conspiracy. I'll never do that.

Why would we do that?

In fact, in 2019, Mark Carney, who was the head of the Bank of England back then. He said, CBDC, you are so misguided with your fears.

And he said that, while he was at Jackson Hole. You know, they have that economic symposium, where all the really cool people go to. And they talk about things. And when we, who are not the cool people in attendance go, that sounds spooky. You're just a tinfoil hat person.

Anyway, that's where he made that speech. That it's just misguided.

There's nothing to fear here.

Because we are just experiment. Oh. Kind of like Mengele.

I'm sorry. That was bad. Kind of like, let's say, the atomic bomb. There is nothing to atomic bomb, we're just doing experiments. Why would you be experimenting, if you didn't think that it would be something that you would eventually use.

So, anyway, 2021, Jerome Powell, who is our central bank guy. The Federal Reserve.

He said, quote, CBDCs. I love this one.

Not on the immediate horizon.

Okay. So you're admitting that it is on the horizon!

So in 2024, she, Lagarde, she -- she comes out, and she told the European parliament, that CBDC skepticism stem from conspiracy theories. Saying, the digital euro is not going to be big brother, surveillance.

Remember, what a central bank digital currency can do, and will do, at least over in the Soviet -- I mean, in Europe. Will be that it will track everything that you buy. Everything you sell.

Everything you make. Okay. Not a problem. That's fine.

I don't have anything to hide. Except, it can be turned off! You don't own -- like, I can go to the bank and say, I want cash. I want my cash out. Okay?

You'll be suspected of being a terrorist, if you do that. What's the problem? Hey, that's freedom, baby.

But you can take the cash. With the central bank digital currency, you don't own that. There's nothing to take out. They own that. The central bank and the government, they own that. So you have no place to go, but through them. And if you decide with be I don't really like that, they can turn your currency off.

And make no mistake, that's not a tinfoil hat conspiracy, that's what's happening in China!

So people have been -- there's a guy, practice sawed, I think his name is. He wrote a book, The Future of Money.

It came out in 2018. We talked about it on the program. And he was made to look ridiculous.

Theft!

Anybody who is a Libertarian, they've been talking about, you're crazy.

Anybody who spoke about it, on any platform during the Biden administration.

They're crazy!

And you were throttled or suspended, because you were spreading misinformation. Okay?

So I got the message. It's a farce. It's not happening.

Uh-huh. Uh-huh. Except, now they've just announced that it is happening. Okay?

Back in 2020, the European central bank said, 86 percent of all central banks are working on this right now.

Oh! Okay.

Okay. Then as she said, in 2024, there's a two-year pilot. But now she said, there's a rollout coming for digital currency, from the central bank of Europe.

So it went from conspiracy, to reality, in a year!

Love how that works. And we're all just supposed to not notice it!

Okay.

So here's -- here's why this is so dangerous, and something you must pay attention to.

I am convinced that especially ASI, is going to be a tool. Remember, like everything. Like everything, even Scriptures. Scriptures, that's a tool.

It's a gift given to you, if you would like to use it. But know that that powerful gift that you have, can fall into the hands of somebody else.

And they can twist it, and use it for very powerful, nefarious purposes. That's just the written word of the Scriptures.

Okay!

It will always -- everything can be used for good or bad. It depends on the people who are holding it in their hands. All right.

And I really am convinced that ASI, digital currency, that's all found in the Bible!

I mean, I'm in Bible territory here.

Specifically the last part of the Bible.

That -- are these the tools that are very much like the tools foretold.

That will be employed by the Antichrist, to snuff out anyone who dares to say, I'm really not with him.

Now, so they are -- China has already done this. They launched in 2020, with their digital yuan. It tracks everything.

And that gives you your -- your -- your currency. But it also gives you the currency to be somebody in good standing. If you don't do exactly what the state tells you to do, you're tracked, you're monitored. And guess who doesn't get to go on an airplane. Guess who doesn't get to take the train.

If we say who can't go into certain buildings. You!

Because you're no longer in good standing. And it gets worse and worse and worse, until you are literally living on the streets, only because you disagree with the government.

Don't believe me! Look it up. Now, the US is not far behind. We have got to pass -- and Donald Trump said he would sign it. We have got to pass legislation right now!

No central bank digital currency, ever!

In America. No -- no digital passport, ever, in America!

Because we're already working on a digital dollar here.

Europe's move is not isolated. It is a chess move. Well, they're doing it. And China is doing it.

Or we will do it. Because we will be left behind. I want to be left behind. There is going to come a time where you will hear me -- you probably will. Maybe. I don't know.

There will come a time where I will be like, you know, the Amish have it right. Maybe we should all be Amish. Now, I might just be saying that in a barn with cows and people all dressed in black. I don't know.

But there's going to come a time where I'm like, I think we should all get out of here. And go the other direction.

And it could be coming quickly!

Because what that means for privacy, for free markets.

For your individual choice, is beyond most people's understanding, today!

But you've got to educate. Remember, I said, there's going to come a time, where things are happening so fast, you will not be able to keep up with them.

You've already seen this in a good way with Donald Trump.

He came in. And it's not just that he had a plan.

It's also that we're using AI to find all of these things to correct!

Okay. That's why Elon Musk is there!

Tech support!

That's what speeding things up. Does and you haven't seen anything yet.

So when I give you these warnings.

Saying, hey, you've got to -- please, bone up on it. Please, go ask Grok today.

CBDC from Europe. What does that mean?

What could it do?

What are the good things. What are the possible bad things?

I think, in this case, the bad outweighs the good. Because it takes away any kind of privacy whatsoever. And hands it directly to a government!

Really bad! We'll go more in this in just a second. And so much more, just left this hour on the podcast.

GLENN: Okay. So let me explain. CBDC, central bank digital currencies. Their digital dollars, or euros. And they're issued by central banks. It's like Bitcoin.

Except, not. Here's the big difference: This will replace your cash with what are called programmable, trackable tokens.

Programmable, meaning, hey. We have inflation for gas. Or we don't want you buying so much gas, because we have to reduce emissions. Who is a central person who needs to go to work?

Everybody who has money in their bank, that's not deemed essential. You no longer can fill your tank with gas.

It won't work with any gas pump.

Okay. That's a programmable currency.

Every single transaction from buying bread, paying rent, everything, is programmable by the state.

Now, they say, oh, there's not going to be any data access. That's a conspiracy theory.

I don't believe you on the conspiracy theory, anymore.

You've lied and lied and lied.

And, by the way, in parliament. When they were talking about this, maybe in 2018, they were arguing that we can't pass any of this, until it's programmable.

It must be programmable.

And that means the government can cap your spending, block purchases.

Because, you know, can't buy fossil fuels.

Freeze your account, because you're no longer in favor with the government.

And free markets die!

Because they have a complete monopoly on money.

I don't know if you know this, but monopoly, isn't just the longest, most frustrating, most boring game ever invented. It's also a bad thing, when it comes to free money, free markets.

Bad!

Tenth amendment, by the way, reserves the power to states and individuals. CBDCs. They centralize control. They undermine federalism.

This is a betrayal of everything our republic stands for. It replaces liberty with technocratic tyranny. And if Europe embraces CBDCs and they're still allies, I don't think they're allies to small government, freedom-loving Americans. They're not. They're not.

This path puts them right, directly in the path of every brutal dictator, every fascist. Every German who was on stage after J.D. Vance was speaking to them.

That wept and said, if they want freedom of speech. We don't have anything in common with them anymore.

Because we're about to roll out a CBDC. And that will make sure that everybody only says the things we want them to say.

It is no longer a conspiracy theory. Europe is rolling theirs out, a social credit system will be next.

Leaked Documents Reveal INSANE DEI Plan for NASA | Glenn TV | Ep 419

We knew the Biden administration was obsessed with DEI and CRT, but we didn’t know how deep those sinister policies infiltrated every level of the federal government — until now. Thanks to brave whistleblowers at NASA and the Department of Defense, the roots of cultural Marxism have been exposed. What started as whispers in the shadows under the Obama administration morphed into a $100 billion NASA propaganda playbook leaked to Blaze News and Glenn TV. Never-before-seen documents reveal the dangerous plan to prioritize diversity, equity, and inclusion in NASA’s Artemis mission and “put the first woman and first person of color on the Moon” — complete with a Nike deal. President Trump and Defense Secretary Pete Hegseth have launched a fierce counterattack to slash DEI policies and spending, but is it too late? Retired Brigadier General Christopher Walker, a combat veteran turned mole in the Air Force’s DEI office, tells Glenn there are still woke activists at the Pentagon. He’s seen the screenshots from the DOD chatrooms, and activists are panicking.