RADIOMarch 14, 2023

Glenn: Be ‘healthily’ TERRIFIED of the coming banking CHAOS

‘I don’t think people understand the destruction that is coming our way,’ Glenn says. ‘This is going to happen. It’s just a matter of when.’ In this clip, Glenn is joined by financial expert and author of ‘The War On Small Business,’ Carol Roth. They discuss the recent Silicon Valley Bank (SVB) closure, why it occurred, and how small entrepreneurs have to ‘play by the [banking] rules,’ whereas big businesses do not. Plus, Glenn explains why he thinks Americans should be terrified of what’s to come…terrified in a ‘healthy way,' of course.

Transcript

Below is a rush transcript that may contain errors

GLENN: Carol Roth, welcome back.

CAROL: Hi, Glenn. What a crazy couple of days here, never -- never ceases to amaze. Doesn't it?

GLENN: No, it -- it really doesn't.

First of all, let me get your reaction. We spoke on Friday. On the Friday exclusive, that I do for the Blaze TV.

And this story was just breaking.

CAROL: Yes. Correct.

GLENN: So they bailed everything out, with the FDIC.

But this isn't just the depositors, that they bailed out.

I'm for FDIC, covering depositors. But they just changed the law, with a stroke of a pen. Did they not?

I mean, you had $400 million in that bank. It says clearly on the door, deposits up to 250,000.

CAROL: Yeah. You know, I have a different take on this, than a lot of people that I've been talking to. Some friends and colleagues.

You know, they did not do what I would consider to be a full bank bailout. They did not protect the shareholders. They showed management the door. So, you know, the people who should be taking on risk, took on the risk. In terms of the depositors. I mean, you could say, oh, why should these tech companies be saved?

But I challenge people to change the name. If it wasn't called Silicon Valley Bank. If it was called the small business bank of Iowa, would you want those small businesses to be at risk?

GLENN: Well, there is -- there is a difference.

In those small businesses. And I'll tell you what the difference is. There's no way in hell, this federal government would bail out a small business bank, in a red state. I just don't believe it.

PAT: That may be the case. But at the same time, if you think about the potential contagion.

And, in fact, we could use this now as a benchmark. To say they've done it before. That God forbid, the small business bank of red state were to fail in the future.

But if you think about just the ripple effects, the example I like to use is Etsy.

Etsy is a marketplace. Where artisans and small entrepreneurs do crafts. And they sell them. Etsy had all of their working -- or not all of their capital. A large portion of their capital with Silicon Valley Bank.

So if that money were to have gone away, they wouldn't have been able to pay all of the entrepreneurs.

The same thing with a payroll company. They had their money with Silicon Valley Bank. And so another company wouldn't have been able to pay their entrepreneurs.

So that kind of reverberation throughout the system. And then not quelling the fears, that this could happen again, and potentially taking down not just other regional banks, but having contagions up to big banks. It would have been really bad for everyone.

GLENN: So, but wait.

I agree with you. I agree with you, that it would have been horrendous. Okay?

However, I had under the FDIC limit in Silicon Valley Bank for one of my businesses.

We ran our payroll through Silicon Valley Bank.

CAROL: Okay.

GLENN: We never put more than 250 grand in that. We never do it. Unless we care to lose it.

So why do I have to play by the rules, and expect that I'm not going to get something, but all of the big guys, will always expect, oh, well, they're going to bail me out. I'm too big to lose. I'm too big to fail.

CAROL: Yeah. Listen. This is sort of an expectation sort of game. But the reality is, that we didn't want to have that failure happen. And this was a bank that was very different than some of the other failures that had happened before.

I mean, this was not about making to their I can do loans or derivative products. This was really a liquidity issue, that should have never gotten to the panic. And I think that's the bigger issue. The way this was communicated.

The hubris. The fact that the head of Silicon Valley Bank. Sat on the board of directors, on the San Francisco fed. And didn't anticipate, that it might not be a good idea to lock up money for ten years of treasury.

There are a lot of really weird questions here.

And I think we can certainly debate, you know, what -- what we should do on a go-forward basis. But we have to have faith in the banking system, and for companies to take their cash management and now have to go through paperwork. And chop it up into little blocks so that they can be covered. And have it in all kinds of different banks and different accounts. Isn't particularly efficient.

So I think the insurance program, probably needs to be relooked at. And I think that's --

GLENN: But you can't just write the rules as you go.
(laughter)

CAROL: They do all the time, Glenn.

GLENN: That's wrong. I know. And it's wrong to do that.

CAROL: This is not the first time.
(laughter)
So it's definitely wrong to do that, but they're going to do it on an ongoing basis. This was not the time to put the flag down and go, no. This isn't the time to do it. It was a very sort of practical decision. Yes, in principle, we need to fix the underlying system.

But as I said, let's not pretend that capitalism in the United States. We've had the fed who is --

GLENN: Oh, no, it's not capitalism.

CAROL: On a historic basis. So I won't sit and complain, oh, this is some affront to capitalism, that didn't actually exist.

GLENN: No. The Fed is completely out of control. Overstepped. And all of the -- you know, the big banks. The really big banks.

They are rolling with our cash.

CAROL: Rolling in dough. Literally.

GLENN: Yeah. So let me go back to the bonds, a second.

They locked these treasuries up for ten years. And they -- when the interest rates go up, they lost about 25 percent on their bonds. If they tried to sell them in an emergency.

They were going to lose 25 cents on the dollar.

That's what caused the panic.

Because if you lose 25 cents on the dollar, you don't have enough to cover all of the things that you have covered.

CAROL: Let me add one more thing that added into the panic, because this was on paper.

Should they held them to maturity, there would have been no problem.

Like you said, only in an emergency. What happened, is that within Silicon Valley, because interest rates were rising and the bank was only paying a small amount on deposits, you could pull your money out. And park it into a Treasury bill now. And get, you know, 5 percent without very long duration.

So you had more depositors pulling their money out, than they had model and had expected, in this rising interest rate environment. As well as probably companies that needed more operating cash because of the economy.

So they didn't have that expectation.

And that sort of mismatch, in saying, oh, wait. We have a liquidity need. Because we didn't estimate for this.

That's what forced them to sell the bonds. At that loss.

And then created this panic.

GLENN: And that's where this boob, that is sitting on the Federal Reserve Board, in San Francisco.

These guys are -- I'm convinced, these guys are arrogant morons.

However, how many other banks have put their -- their money into longer term treasuries?

CAROL: Oh, I mean. It's throughout the system.

GLENN: So wait.

CAROL: Wait. Wait. Wait.

GLENN: Go ahead.

CAROL: If you take Bank of America. They also had a situation, where they had to take a big loss on selling treasuries.

The difference is they have a large and diversified business. They only had 69 percent of their liabilities being deposits. Where Silicon Valley bank it was 89 percent. They have a lot of retail deposits, that were under the threshold. They have investment trading. And wealth management. And all these other things.

So for them, it wasn't an issue. But on a smaller scale, for a bank, that really does rely on that deposit business. And because they had so much of that, as these smaller business deposits, that were uninsured, that made it different, than it was for let's say some of these bigger banks or banks that were --

GLENN: Right. But, you know, I'm looking at banks, like, you know, JP Morgan Chase.

All of that. They're fine.

They have plenty of money. And they're going to get all the depositors, as the little banks go out.

CAROL: Exactly. Let's underscore that point.

GLENN: What I'm asking you is: How -- what gives us any indication that this is -- that it's over?

That we're safe now? I mean, it might be because right now.

But this is going to happen again.

CAROL: So that's exactly why they put out the press release, that they did. You know, the fed and the Treasury.

And that very comforting statement from our president. I'm sure that gave you all the confidence in the world.

GLENN: Oh, yeah. I'm stuffed.

CAROL: But that was the point. Is the reason that those depositors pulled out their deposits, is because they were worried it wasn't going to be backstopped. And if there was this liquidity issue that was incurred. Oh, boy. What are we going to do?

Yes. There are other banks that are probably in the same situation. But if their customers don't panic and pull their deposits, and they have the time to pull the liquidity poll.

Then that's what that statement was meant to do.

Now, it really just depends on the temperament of individuals and businesses. If you believe that, if you believe they'll step in and back us up, then you're not pulling out the money, these companies -- the banks can deal with it.

And if you don't, then we will see more of this. Certainly, I think particularly Silicon Valley Bank was different than Silvergate and Signature that had more crypto exposure.

I would imagine those that have more exposure to crypto will probably see some additional issues.

But Silicon Valley Bank being that second largest bank to fail in history, one of the top 20 banks in the US. Systemically important.

As you said, plugged in and connected. It was just a different -- a bit of a different animal.

But, Glenn, I do want to go to that point you made.

This is really huge. Just like they closed down the small businesses during COVID. And all of that went over to the big guys.

You know, the big guys couldn't really step in. There's laws in place, about buying more deposits.

But what has happened in letting this play out, the way it does, is people have just decided to organically move their deposits. So JPMorgan and Citigroup. Like, they're having a field day. So much so, that Jamie Dimon just bought something like 26 million dollars' worth of JPMorgan stock. Because she's doubling down, because he knows all those depositors are rolling in. And he did not have to pay a red cent for them. The great consolidation continues.

GLENN: All right. Hang on just a second. Can you spend the hour with me?

CAROL: Yeah, of course!

GLENN: Because I've got a ton of questions on this.

We'll come back in just a second. Certain kind of person out there, and you know them when you see them.

One that fits in the category of above and beyond. Somebody who is -- they usually just love their job, and they love serving people.

They love to see their customers really, really happy.

Those are the kinds of people that we look for, when we're looking for real estate agents, that can represent you, when you're buying or selling your home. You need somebody who really loves serving you, who has compassion for people. And cares about people. And wants to do the best for them.

That's also the best way to make money. Best way to be successful is just to serve and overserve your customer.

Because they're -- they always go away happy. And then you've got more customers coming your way. We look for the people like that, who also have the best track record.

And they meet our standards. And we have pretty high standards to recommend. These people don't work for us. So we don't have any skin in the game, on, you know, who we pick and who we don't. Other than, I want to super serve you, and give you the best person.

RealEstateAgentsITrust.com. Is a referral service. Just go there. Tell us where you're buying, selling. And we'll get you some of the best real estate agents in the country.

RealEstateAgentsITrust.com. Ten-second station ID.
(music)
Okay.

So as the -- as the Fed rate goes up, these Treasuries are worth less and less. If you have to sell them. Correct?

Wait. We're missing you. Hang on just a second. I don't --

CAROL: Okay. Did you get it? Yeah. So, you know, obviously, the -- not to get too wonky. But the interest rates, or the yield on the bonds trades an inverse on it. And if you think about it, why would you buy a ten-year that was on the market from a long time ago, that's yielding 1.1 something percent interest, when you can buy something that's at two years right now, that gives you 5 percent interest. That doesn't make any sense.

So their current value on the market is lower. Again, if you hold them to maturity, if they hold them to 10 years, you still get the full amount of the face value, plus, the interest. It's just the tradable value today, in that interim time period. Because there's not a lot of demand for that.

GLENN: Right.

So for any small bank that is holding these, if there's trouble, they could be in trouble just like Silicon Valley Bank.

Now, the FDIC, we were told, you know, that's the insurance.

And he said, we're -- don't worry. You don't have to worry about it.

The banks that paid into it.

Well, they don't have enough just to cover what they covered yesterday. So they're already upside down.

So that means, if we do have runs in the bank, in the future, you know, near future.

They don't have any money. Which leads me to believe, we will just print the money.

Doesn't -- I mean, the inflation rate of what we're doing is crazy. Is this the beginning of the currency death cycle?

CAROL: Well, the currency death cycle began a long time ago.

I would say a couple of things. From an FDIC standpoint. They are saying, we are going to put a fee out to other banks.

So when Joe Biden comes out and says, the taxpayers aren't paying for this. You aren't paying for it directly.

But you certainly will be, whether it's a lower interest read on your money, or more fees or whatnot, if all the other banks have to go in.

What I do think can happen here, in the meantime, is, you know, with the bank, they're trying to sell off pieces of it.

And they're trying to find new homes for it. So the FDIC is covering it. Its insurance, if it needs to make it whole. But if somebody else were to buy it or buy other assets. There's a way that that structure sort of happens. And obviously, that's the best-case scenario.

And again, frankly we just should have never gotten to the point, where we had this panic. But, you know, the idiots didn't prevail there.

You know, should there be a God forbid, wide run?

Yes. And in terms of trying to dissolve this would-be money printing. Again, if I can respond.

Some people did not like what I had to say. That's sort of my point.

Someone is saying -- I'm not paid by anybody. I'm saying, we wanted to stem this, because what would happen to everybody.

People who are not involved at all, would have cost you a lot more than this, you know, kind of temporary pin here.

GLENN: I don't think people understand the destruction that is coming our way. It's coming.

This is going to happen. It's just a matter of when.

And people are like, you know, I'm fine. Bring it on.

No. You really don't understand.

You should be in a healthy way, terrified of what's coming. And I use the word terrified.

Do you remember, our grandparents went through something, that they were 50 years away from.
And they were still like, it could happen at any time.

That's the kind of pain that America is about to go through. And remember, those people grew up without indoor toilets. Okay?

They grew up without all the fancy stuff that we have now.

They didn't have that far to fall back.

We have an enormous way to go back.

You should be terrified of it.

In a healthy way.

THE GLENN BECK PODCAST

"Everything is For Sale" — How the Cartels Control Mexico's Government

It is widely accepted that the cartels in Mexico not only control significant swaths of land, but they also have incredible influence over how the country's government operates. Border Expert Brandon Darby sits down with Glenn Beck to explain exactly why this is the case and what the Trump administration's strategy truly needs to be in order to crush these powerful cartels.

Watch Glenn Beck's FULL Interview with Brandon Darby HERE

We're being played. THIS is the REAL threat to America

Conservatives in America are being divided over the wrong things. Glenn Beck asks: Who’s the real threat to America: Sen. Mike Lee, who wants to sell 3% of federally-owned land to states and cities, or the rising radical communist wing of the Democratic Party, who recently chose Zohran Mamdani as their NYC mayoral candidate?

Transcript

Below is a rush transcript that may contain errors

GLENN: I want to talk to you about the enemy being clear. Crystal clear!

But I'm not sure to everybody.

I'm so sick and tired of us turning on each other.

We saw it with Elon Musk and Donald Trump. I like both men. Can we stop?

Thankfully, they did.

You're seeing it with Trump's bombing of Iran. Where you were either a Jew-loving Zionist or raging anti-Semite, or if you're me.

Both!

And then there's something that really caught me off-guard. The people who are turning on Utah Senator Mike Lee over a housing proposal, he's had this housing proposal since 2022.

But if you go on X, you're going to learn, apparently Mike Lee, one of the most Constitutional loving conservatives I know, wants to sell off our national parks and forest.

You know, he was probably in Coeur d'Alene lighting the matches, because he hates our forest so much. He wants to make sure you never get to hunt.

All he wants to do is take away your fishing and hunting rights. And build cheap housing complexes. Amazon warehouses. And whatever China and BlackRock want.

You know, I addressed this a few weeks ago. I invited Mike to clarify where he stands. Because some of my family are very concerned.

You can find the segments on my YouTube channel. Go and subscribe to my YouTube channel. Will you please? But since then, apparently, there's a crusade out to cancel Senator Lee.

There have been a few major updates. So today, let me just take a look at just the facts here, where we stand on this right now.

Over the weekend, Mike Lee decided to withdraw his federal land sale provision from the big, beautiful bill.

He said, quote, while this has been a tremendous amount of misinformation, and in some cases, outright lies about my bill. Many people brought forward sincere concerns.

Because of the strict constraints of the budget reconciliation process, I was unable to secure clear, enforceable safeguards to guarantee, these lands would never be sold.

Only to American families. Not to China. To not BlackRock.

And never to any foreign interests.

Wow! What a shill for the globalists, right?

Or maybe how it should work. Members of Congress propose something presented to the people. And then they listen to the community. Instead of just insisting, we have to pass it, to know what's in it.

And I didn't hear this kind of outcry for that!

Here's one of the bigger issues here. We're speaking two different languages.

A lot of criticism online is that Mike Lee wants to sell off our public lands!

Our public lands. Pragmatism to a lot of Americans, those lands are the lands we use for recreation. And hiking. And haunting. And fishing.

And things like that. That's whatnot he wanted to sell. And he promised to make that much clearer in the revised bill.

Now, let me remind you, on the public lands. President Biden, under his administration. The federal government was ordered to conserve 30 percent of our lands. And our waters by 2030. So apparently, our public lands are being gobbled up even more.

That's another, I think six percentage points. Another 6 percent of the entire land in the United States, going to be seized by the federal government, by 2030. And it falls directly in line with the UN's 30 by 30 plan.

It's an initiative for governments to seize 30 percent of all land and water by 2030. Now, do you think the UN wants to give you more hunting and fishing land?

Do you think they're all for that? Or do you think these radical environmentalists want to restrict your access in the name of fighting climate change?

By the way, current -- currently, the US government owns 640 million acres of land. That's nearly a third of the country. So they've almost met that 30 by 30 goal.

And they will meet it, and then what's next? The 50 by 50 UN goal.

And in order to seize the rest of the land, there's the Sustains Act that passed. Do you know about this? I didn't hear about any outcry for this.

Where was the right on this one? It was enacted in 2023, allows the government to receive private funds to advance conservation programs.

So BlackRock, if they wanted to, could buy up the conservation lands! Does your property contribute to pollination, photosynthesis. The air we breathe. The water we drink?

Well, as I -- as I exposed, on a show back in September, the Sustains Act allows all of that to be monetized through the relationship of private investors like Bill Gates. And the government!

And it occurs without the landowners permission.

So they can take your land. Or tell you exactly what you want to do, or what they want you to do on that land, what you cannot do on that land, because photosynthesis happens.

Where was I?

Where were you on that?

This is the real seizing of American assets.

This is the real seizing of American assets, by the global corporations. That you were all so afraid of!

Mike Lee, oh, my gosh.

What about the Sustains Act?

In his revised bill. Which he's still working on.

Lee has promised to remove all forest land. Good. Significantly reduce the amount of BLM land in the bill.

Good. Only land within 5 miles of population centers is eligible.

Yeah. But when he gets that, then he'll build buildings there, and then he'll have another five.

And next thing you know, he will be putting a cap on -- on Old Faithful.

He'll establish freedom zones to ensure these lands benefit American families. Ranchers. Recreational users. But there's a lot of claims online.

Whatever.

Charlie Kirk said, the Democrats -- this is their war on single family housing.

Hmm.

Do you remember when we talked on the program about the globalist plan of 15-minute cities. That all of BlackRock and everything else is for.

Remember when BlackRock came in, and just started buying up whole neighborhoods. Just priced every regular citizen out of the neighborhood.

Why?

Because it's part of the plan to pack the majority of humanity into easily controllable cities where everything you need is just 15 minutes away. And you never need a car. But is that the American dream?

Currently, rural land is getting so expensive. Most Americans can't afford rural land!

I know. I'm living in a place that has a population of 400 -- I think it's 51. Might have had a baby, so maybe it's 452. And nobody can afford it.

How is it possible you're living in the middle of nowhere, with a population of 451 people, and you can't afford a house!

The elites don't need Mike Lee's proposal. But take more of your land.

They're already doing that. But here's my biggest issue.

This is not about Mike Lee's proposal. Okay?

It's not.

There is a much bigger issue.

And I'll share that when I come back.

GLENN: Welcome to the Glenn Beck Program. So I was talking about federal -- I want to get off that. I want to change to, instead, what the real problem here is.

What the real problem is. The real problem on the seizing of the federal lands. Is that we are so quick to turn on ourselves.

We are so quick, lately, to turn on our -- our allies.

See, that's -- the issue isn't Mike Lee's proposal.

It's how fast we turn on each other!

If you believe Mike Lee's proposal didn't go far enough to safeguard our land from adversaries. Great!

That's fine. And, you know what, you won!

He's revamping that.

He listened.

The government listened. Good!

But can you say that without calling him a traitorous shill for the elites?

I mean, I don't know what traitorous shill for the elites that actually listens.

Do you?

Donald Trump Jr. He was against my plan. He thanked him over the weekend for pulling the proposal saying, quote, Mike is a great friend. And we usually agree on almost everything. But this was a rare exemption of where we didn't! Hello!

We don't need to hear people tear each other down. Who is our real enemy?

Who is -- who is more dangerous?

Can we go to -- can we go?

I don't have number on these, unfortunately. Six.

Seven, eight, nine, ten. Let's go to cut ten, please, on whiter neighborhoods.

VOICE: I realized there's a policy proposal, and I'm going to quote it for folks to shift the tax burden from overtaxed homeowners in the outer bureaus toward expensive homes in richer and whiter neighborhoods.

Explain why you are bringing race into your tax proposal.

VOICE: That is just a description of what we see right now.

It's not driven by race.

It's more of an assessment of what neighborhoods are being undertaxed versus overtaxed. We've seen time and again, that this is a property tax system that is inequitable. It's one that actually Eric Adams ran on, saying that he would change in the first 100 days.

He since sought to defend it, and lost at every juncture in court.

VOICE: And I understand, you're saying, we're simply describing the types of neighborhood that would see these increases in taxes.

And yet by invoking race, do you run the risk of potentially alienating key constituents.

STU: I think I'm just naming things as they are. And ultimately, my -- the thing that motivates me in this, is to create a system of fairness.

It's not to work backwards from an original assessment of our neighborhood or our city. Rather, it's to ensure that we actually have an equal playing field.

And right now, what we see with the property tax system, is one that is overtaxing a number of New Yorkers and undertaxing others. And inability of political will to resolve that.

VOICE: So no plans to change that language on your website?

VOICE: The focus here is to actually ensure a fair property tax system, and the use of that language is an assessment of the neighborhood.

GLENN: Just want it to be fair. Just want it to be fair. Play the next cut. This is Mamdani, by the way, the candidate in New York, that looks like he might win, to become the next mayor of New York. Next cut.

VOICE: You are a self-described democratic socialist. Do you think that billionaires have a right to exist?
(laughter)

VOICE: I don't think that we should have billionaires, because frankly it is so much money, in a moment of such inequality.

And ultimately, what we need more of is equality across our city, and across our state, and across our country.

And I look forward to work with everyone. Including billionaires. To make a city that is fair for all of them.

GLENN: Wow!

That is fantastic.

We shouldn't have billionaires.

Hmm. So how would we get there?

What would be his ultimate goal?

Listen.

VOICE: Do you like capitalism?

VOICE: No. I have many critiques of capitalism.

And I think ultimately, the definition for me, of why I call myself a Democratic Socialist.

Is the words of Dr. King decades ago. He said, call it democracy, or call it democratic socialism.

There must be a better distribution of wealth for all of God's children in this country.

And that's what I'm focused on, is dignity and taking on income inequality. What the purpose is about, about this project, is not simply to raise much consciousness, to win socialism.

And obviously raise class consciousness. We were a part of that. But making sure that we have candidates that both understand that and are willing to put that forward, at every which moment they have.

Every which moment that they are given.

We have to continue to elect more socialists. And we have to ensure that we are unapologetic about our socialism. And there are also other issues that we firmly believe in.

Whether it's BS -- right? Or whether it's the end goal of seizing the means of production, where we don't have the same level --

GLENN: Wait. Can you say that again for me?

Whether it's the end goal of ceasing is the means of production.

Let me ask you the question: Which is more dangerous to our country, and our heritage?

Is it the -- the senator?

That controversial maybe. Says 3 percent of federal land should be transferred back to the states?

Or is it the politician standing at a modem declaring, you know, not in some offhanded gap, that he has a real problem with capitalism. That he wants to tax white neighborhoods. That he wants to get rid of billionaires. And seize the means of production.

Now, for those who studied history. I don't need to tell you why your blood has suddenly run cold. Seize the means of production, that's not economic theory.

That is a revolutionary war cry. It always has been. It's the heart of Lenin, of Marx, of Mao. Of Gulags. Of five-year plans. A food line. Total state control. It is the slogan, whispered in the barracks of all of the camps.

Printed on the walls of the Khmer Rouge Torture cells.

That's not American. That's not a goal any of us should look for. But let's take down Elon Musk.

Let's -- let's take down our FBI.

Let's -- let's take down Mike Lee. Let's take down Tucker Carlson. Let's take down at the scene. Because we don't have enough enemies. Riley rightfully, somebody on this program, asked around on this time, on Friday. Glenn, why did you have Steve Bannon on? This is why I had Steve Bannon. We have enough enemies, don't we?

Can we find people we generally agree with, maybe 80 percent. Even if that 20 percent is massive!

If I'm going to be friends with anybody, for the times I'm going to be friends with.

Then I have to say, I part with you here.

You will have to go on your own way. But when you come back to this, I'm with you.

We are -- we are being -- our college campuses, the floor of our own legislative bodies. As if it were another just regular day in paradise of America.

You know, let me -- we want to talk about highway funding and seizing the means of production.

Wait. What?

Meanwhile, the man who says, we should return a tiny sliver of public land. Land that Washington hoards like a miser. While local communities struggle to pay for schools and police.

Why you can't afford a house!

That's an extremist. A radical. A threat. But this guy, I don't see anybody on the right, really standing up against this guy. Where is the big movement against this guy? It's almost as if, that whole federal lands thing, was orchestrated. And so many of our side played right into it!

That man who says, let the states manage their own forests, their own minerals, their own resources.

Just give us 3 percent of our land, so we can actually have a tax base, so we can build some houses there that people can afford. Let's make sure that the land is controlled by the people, who are closest to that land.

Let them be the stewards of it. Not the bureaucrats 2,000 miles away, who have never set foot in a pine thicket, or a desert mesa.

Which one is more in line with the Constitution? Which one is our bigger enemy here? Which one echoes Jefferson's belief in a government closest to the people? Which upholds the vision of the Founders who feared centralized power, more than foreign armies. Which one is calling for the seizing of the -- of the production?

You know, not all ideas are morally equivalent.

We're not dealing here with difference of opinion on tax rates. Or zoning codes.

One wants to give power back to the states.

And, you know what?

People rose up, and said, I don't like that idea.

So that idea has to be closed and forfeited.

Great! But where are the people standing up saying, seizing the means of production?

This guy wants to take control of your factory. Your farm.

Your business, your labor.

One believes in federalism. The other believes in collectivism. One respects the individual as a moral agent of society. And the other sees the individual as a cog in the great machine of the state that's just going to make utopia. Because they always do!

As you just -- you just can't see it. Because you're behind the barbed wire fence!

When somebody shrugs and says, you know, both sides are really pretty extreme. You know, it's time we say, no, no, no, no.

It's that kind of false equivalence that got us into this mess. That's how the frog stays in the pot as the water slowly boils. You know what, they're both really kind of extreme, no, they're not. No, they're not.

If you believe in America, is a place where rights are granted by God, not government.

Where property is yours. It is sacred!

The fruits of your labor belong to you. That we cannot pretend these are equal threats.

Because they're not. Because one man questions how much land the federal government should own.

The other questions whether you should be allowed to own anything at all!

If the government should not own everything!

Which one is dangerous? Which one snuffs out your rights?

It's not about land. This is all about economics. It's about freedom. And history has already told us where these roads lead.

One road leads to liberty. One road leads us to having a discussion and a debate.

Without calling each other names and killing one another.

The other road doesn't allow debate. And if you try to debate, you're disappeared, or you're killed! One leads in liberty, one ends in chains!

What do you say, we -- we have enough enemies. Why do we need to turn on ourselves? And do you think there's a possibility that the communist, the socialist, the anarchist, the Islamist will all band together, to destabilize the Middle East. Europe, come America to destabilize that, to end the Western world. Do you think there's a chance you're being played?

Because I do. And I refuse to be played. I'm not a moron. And neither are you.

See, here's the thing. This is why, when Ben Shapiro says, facts don't care about your feelings. This is why that's so important.

Because they've hit an emotional spot with you. They've hit a spot of, they're going to take my right away to fish or to hunt.

And that's not what he was doing. But that's what it turned out to be. Our sacred public lands.

It's not what he was talking about.

And if it was, he's not talking about it now.

He wants to make it very, very clear. Exactly what he was talking about.

But see, the idea of going hunting and fishing and hiking. And these glorious places.

We all love that.

I mean, I don't like to actually -- I like to hunt. I don't like to fish.

I don't like to be outside, really.

But I love the lands. I love to be in an air-conditioned car, driving through Yellowstone, going, wow. Look at that. And look at that moron, trying to feed the car, to feed the buffalo.

That's going to be fun to watch.

Why are we so emotional, about that? When it's not really what the argument is about. And it's coming from our friends, when we really should have listened more and had a conversation.

And we're not emotional about someone who says, the end goal is to seize production.

Seize the means of production.

That's Karl Marx!

Why is that one not emotional for us?

Why is it we cannot see the actual enemy?

“General Lee” stuntman REVEALS ALL about the fountain jump

A stuntman took the internet by storm when he jumped a "Dukes of Hazzard" General Lee replica over a fountain in Somerset, Kentucky. The driver, Northeast Ohio Dukes founder Raymond Kohn, joins Glenn Beck to reveal what happened behind the scenes, why he did the jump, and where he wants to jump next (hint: it would involve President Trump)!

Transcript

Below is a rush transcript that may contain errors

GLENN: There was something just amazing that happened over the weekend in Somerset, Kentucky. It was like a Dukes of Hazzard Show.

Thirty-five thousand people gathered together, to line the streets of Somerset, as a very brave driver, who you're going to meet here in a second. Raymond Kohn. Raymond Kohn got into a car. Was an old Dodge Charger?

He jumped over the historic fountain, in the center of the town.

Can we play a little bit of this, if you happen to be watching?

GLENN: I mean, that is just crazy. It just makes me proud to be American, in a very strange sort of way. I don't even know why. It's just so satisfying. The world is on fire, and you're like, yes! We still got it. Raymond Kohn is on with us now. He is the founder and lead stuntman from the northeast Ohio dukes. And they -- they do this kind of stuff all the time. Raymond, welcome to the program.

How are you?

RAYMOND: Thank you for having me, Glenn. I am great.

I feel like a million bucks.

GLENN: Do you really?

When I saw you land, I thought, ow, my back. Ow, my back. It didn't hurt coming down?

RAYMOND: Well, you know what, we are thankful that the legendary stuntman who inspired me to do this. Like the late great Al White Jr. Ted Barba. Corrie Uvey. Jumping John Kid. (all phonetic)

These are the guys who risk everything, back in the '80s on the set of the Dukes of Hazzard, to figure out, how we can do this safely without killing ourselves.

GLENN: I've got to say -- I have to say, I saw a video from the -- from in front of you, as you landed.

And you hit a wall. And you're just tearing through this wall.

And there is a photographer, that is in front. Did you see him, and think, get out of the way, dude! Almost killed him.

RAYMOND: Yeah. So Centerville is our producer. His series that follows us in -- like a global episode, of what we do.

And Mike Cullvich (phonetic) is the -- the -- the executive producer, and that was him there.

And they carefully --

GLENN: Oh, my gosh.

RAYMOND: They know the risks. They know the risks.

He had a little -- just in case, if I go to the left or to the right, that he would be able to squeeze through.

And he did!

So all of the spectators. They were safe.

They were at a safe distance.

You know, we can't do the jump, if we're out there risking people's lives.

And with the help of the summer night crews, the city of Somerset, all the police and fire and EMS, everybody worked together with my team.
I have the best crew in the world.

And, yes, I am the driver that does the jump. And, you know what, we had to build that tarp.
We had to build that tarp, and there was a team of us. And my crew was so great.

They said, look at everything -- we'll get everything done.

Relax. They knew I was nervous.

You know, and they know that my team -- you couldn't ask for a better stunt team.

GLENN: I have so many questions for you.

But let me start here. Before we go too much further away from the town.

Who the hell is the mayor of the city council?

I love these guys.

I can't think of another city in America, that would be like, yeah. We got that historic you fountain, right downtown.

Yeah. Go ahead.

RAYMOND: America is back, baby. I'm telling you. You couldn't have been telling -- from the Dukes of Hazzard. Forty-five years. Forty-seven years after the show ended.

GLENN: Oh.

RAYMOND: I'm telling you, people love -- from all walks of life, people love the Dukes of Hazzard, they love the General Lee.

Listen, if there was -- if there was ever a non-racist TV show for all, it was the Dukes of Hazzard. And that's my main goal.

My pain goal is to get this TV show back on television, that way, we have our children. And our grandchildren. Watching a TV show that has family values good.

GLENN: Okay. So let me -- let me -- one more question on this, before I -- what the hell is wrong we?

When did you decide, this is what I want to do with my life?

RAYMOND: Okay. So I was always a fan. I was born in '77. The show came out in '79. And I loved that big orange car. I loved that car.

GLENN: So great. So great.

RAYMOND: So in 2005, I watched legendary stuntman Corey Spence jump over my roscoe cart. By my police car that I have.

They jumped over it, at the very first General Lee jump site, in Oxford College, in -- in Georgia.

And that's when I got bit by, what I called the stunt bug.

And I was like, I've got to do this. I've got to do -- if I on me do it once, I've got to do it.

And this was my 30th General Lee jump.

For our 30th -- Detroit. We jumped the General Lee downtown Detroit. And then for our 30th, we're jumping over the historic fountain in Somerset, Kentucky.

GLENN: I don't know. This is different. You know, downtown Detroit, you crash into buildings. There's nobody around.

Oh, well.

In Somerset, Kentucky, though. It's just a different thing.

Okay. Let me -- let me -- I think this is amazing.

In looking into you, while the jump is phenomenal. And makes you feel good. What you have gone through in the last few years, is even more amazing.

You had a -- a rare brain surgery, right?

A rare hormonal disorder, that you were like, living another classic TV show, the hulk!

You -- it was changing you, right?

Tell me about this!

JASON: Yeah. So in 2015, I started to feel a lot of pain in my knees, and my elbows.

I started noticing my voice was changing.

My face was changing. And then here comes, hey, Ray. You have to give up blood pressure medicine. You're prediabetic.

You're 335 pounds.

You know, I was always around 220 pounds.

And so nobody -- because -- it's over a long, long, long period of time.

The people that are in my life, every day, they couldn't see the changes.

You know, but the people I haven't seen Ray in a year or two years. You look different, Ray.

You know, and so I went to our local dermatologist, because I started getting these creases in my head. It's bad enough. I'm bald. What are these lines in my head now?

So the dermatologist, she said, let me see your hands. Yeah. You have big hands.

Yeah. Every time I shake somebody's hands. It's like shaking hands with a cinder block.

GLENN: Like banana hands.

JASON: Yeah. My feet went from a size ten to 12.

I had to get a 2X helmet. Because my helmet wouldn't fit.

GLENN: Wait. Wait. Wait pick up wait.

Did you think you were ideas just gaining weight. Or did you know it was something more?

You weren't starving yourself, were you?

RAYMOND: Yeah. Because heavy stunt drivers don't make good stunt drivers. You get hurt a lot easier. It's a lot more weight.

GLENN: Of course.

RAYMOND: All of my loved ones and my crew. It's the jumps are tearing you up.

I'm like, no. No. No. No. It's not the jumps. Don't blame the jumps.

So I said, okay.

So went to the doctor. They said, go give this blood work. You may have something serious going on.

The blood work came back. My growth hormone was 900. 900. Now, normally it was 70 to 270. I'm 47 years old, and I'm still a grown boy!

So that opted for me, to get the -- or, the -- yeah, the MRI of my brain. To scan. And say, I had a 9-millimeter tumor on my 10-millimeter pituitary gland.

And we can have it on my body. And the surgeon, up in the Cleveland Clinic said, Raymond, if we don't get this out of you, it's going to kill you.

And my wife is crying. My daughter is crying.

The first thing that came to my lips was, can I still jump the General Lee after the significant other?

And the doctor said, yes, yes. And I'm like, okay. Let's do does this surgery. Let's get the thing out of my head. And then as soon as I was okay, we went up to the radical speech board in Canada. Joe came up there. We did the first international General Lee jump in front of like 30,000 people up there. And it was awesome.

I'm telling you. I'm living the dream, man. I can't believe this is happening to me.

All because of a TV show, called the Dukes of Hazzard.

GLENN: I have to tell you, I have to put an event together, just because I want to invite you to jump the General Lee over something.

We have to do --

JASON: Glenn, we want. We want to build an American patriot be General Lee.

And we want to put like, you know, 47, 45 on the doors. Put a big old American flag on the roof.

And we will call it The Jump for Trump 2045, and we want to jump in front of the White House. That's what we want to do.

GLENN: That's fantastic.

I'll bring it up to him. If there's any president that will do it. It will be him. He told me a story. He will probably do it on the White House grounds.

RAYMOND: Again, that would be awesome. He would want to do that.

GLENN: He told me a story, he said, you know, about the flagpoles. And he said, you know, he was afraid that all of the -- you know, all of the paperwork and, you know, government everything.

And he wanted to build a ballroom, and put the flagpoles up.

And he went to the guy at the White House, who runs everything at the White House. The architect.

And he said, so what is the paperwork like? And he said, you know, Mr. President, the White House belongs to the president while he's there.

So there's no paperwork. You would have to be the one that would sign all of it. And he's like, this is great.

I bet he could build that jump!

I bet he could build that jump, without any permits.

That is so fantastic.

JASON: In a few weeks. My team --

GLENN: That's fantastic.

JASON: We can build a great American -- they'll give us the panels to make the car, red, white, and blue. Big old American flag theme.

GLENN: That's fantastic.

RAYMOND: We'll call it the jump for Trump. We love Trump! The jump for Trump, and we will rock the White House.

GLENN: It is so great. I will bring it up to him. I will make sure he sees it, okay?

That is fantastic.

But listen, if he takes you up. I have to be there. I have -- you have to get me invited.

RAYMOND: Yeah. Glenn, I would be honored to put a passenger side seat in the car, and you can ride with me.

GLENN: No. No, no, no. No, no.

RAYMOND: Come on!

GLENN: I saw you come down, and my back -- I have a really bad back. And all I could really think of was, ow. Ow. That must have hurt.

RAYMOND: No. Last year, I hit the ramp at 72 miles an hour. I slide 200 at 17 feet. That's the longest General Lee jump in front of a large audience. And I landed a flat on all four wheels.

Had it not been for the safety equipment. That the legendary stuff that came up.

I would have either been killed or worse, paralyzed for the rest of my life.

And it's because of that safety equipment.

I'm not even sitting on the -- I'm painting from the ceiling with bungee cords.

GLENN: Unbelievable. Unbelievable.

I've got to meet you. I've got to meet you, Ray? Just --

RAYMOND: Let's jump in the White House. Let's jump in the White House.

GLENN: Thank you. Raymond. Northeast Ohio. Dukes founder and lead stuntman. You can find the website, north -- northeast Ohio.
Dukes.net.

Ray, we'll talk again. Thank you so much, God bless you, man.

RAYMOND: God bless you. God bless, America.

Introducing 'The Torch'

Tough news week. Tough news month. Always, it seems, another five-alarm fire, or the spotting of arsonists that no one will pay attention to.

The people who watch and support this show—you—are extraordinary.

You don’t just consume information; you act. You don’t just care—you sacrifice. And I’ve seen the receipts. In the last decade alone, you’ve given over a quarter of a billion dollars through Mercury One to help people in crisis.

You didn’t just write checks. You showed up.

Over 45,000 of you volunteered—some of you driving across states, organizing your churches, bringing your kids along—to take part in the largest single volunteer effort completed in one weekend.

That’s not normal. That’s rare. That’s powerful.

You launched The Nazarene Fund, rescuing over 260,000 people from persecution. You funded the largest civilian airlift in history to get Americans and our allies out of Afghanistan.

You’ve changed lives.

You’ve shaped history.

So when people ask me, “Glenn, what more can I do?” my answer is always the same:

First, look at what you have already done. Do you realize how far ahead you are of most Americans? Then start where you are. That feeling inside you—that restlessness, that pull to do something more—isn’t random. It’s a calling. But with everything that is happening in the world, it is hard to keep up as well as keep your chin up.

I get it. I’m tired of the bad news, too.

I’ve spent my life digging through it so you wouldn’t have to. But we must know what is happening and what is ahead. And while next year I’m not walking away from the radio or the stories that matter—in fact, I will be doubling down,

I’ve also told you for nearly two years: I feel something shifting. I feel like I’ve been called to something more. I have only felt this twice in my life—after I sobered up and just before I left Fox.

On January 1st, that “something” begins. I’ve named it The Torch. We started the blaze together; now it is time to take that bit of fire and light the way to a brighter future for our kids.

I wish I could tell you every detail today—but the truth is, some things are still being built, beta-tested, and negotiated. And some things I just can’t tell you until later this year. But here’s what I can tell you:

At its core, The Torch is about education, but not the kind that comes from textbooks or bureaucracies. It’s about self-directed learning rooted in history, liberty, faith, philosophy, and personal responsibility. It’s the kind of education that changes lives—and civilizations.

You’ve heard me say it before: If we want better kids, we have to become better adults. If we want stronger communities, we have to first strengthen ourselves. And if we want truth to survive, we have to fight for it—intelligently, faithfully, daily.

That’s what The Torch is:

A daily connection.

A movement.

A mission.

One part of it will be the culmination of almost a decade of hard work. It will include a new kind of museum—physical and digital—preserving the story of America in ways most museums never could.

You’ll learn through original artifacts, original sources, and real stories from real people who are doing real things. Right now, every summer, we hand-pick around 100 young adults from over 1,000 applications to spend two weeks with us in this kind of immersive learning. Now, for the first time, we’re building a way for anyone, anywhere in the world, in any language, to do the same.

We’re partnering with people of faith, business leaders, educators, innovators—people who know the truth and know how to live it. And they’re coming together not to sell you something, but to empower you.

I’m not asking for anything today—not money, not a sign-up, not a download. Just your attention. Stay connected. Watch what’s coming. I promise you: this is worth your time.

If you want to be one of the first to sign on, join the newsletter at glennbeck.com. But only if you’re serious about discovering your purpose—and lighting a fire that doesn’t go out.

Because we don’t just need new tools or new platforms—we need a renewal of the human spirit. That’s what The Torch is. That is my next mission.

And I hope, when the time comes, you’ll carry it with me.

For future updates on this mission, sign up for my newsletter, and read more background here.