RADIOJuly 15, 2022

Inflation vs. taxation: Which form of THIEVERY is worse?

Taxation is theft, but inflation may be even worse. Why? Carol Roth, financial expert and author of ‘The War On Small Business,’ tells Glenn that inflation is a PERMANENT thievery that robs you of EVERYTHING you’ve worked so hard to accomplish. Plus, today’s 9.1 percent inflation was ENTIRELY avoidable, if not for the disastrous central-planning policies enacted by today’s Federal Reserve. ‘It’s just so, so frustrating and angering,’ she says.

Transcript

Below is a rush transcript that may contain errors

GLENN: Carol Roth is a friend and friend of the program. She's the author of the book, The War On Small Business. She's a -- in her words, a recovering investment banker, worked on Wall Street for quite some time. But sees things from Main Street, and can explain things to Main Street as opposed to everybody else, who I just think talks about Wall Street stuff. And that doesn't matter to the average person. Unless you can break it down, and explain it.

Carol Roth, welcome to the program. Hi, Carol.

CAROL: Hi, Glenn. How are you doing?

GLENN: Good. Good.

I am -- do you agree with me on Sri Lanka? You've been following that I'm sure.

CAROL: Yes. I don't know if you know this, but Sri Lanka has an ESG score of 98. So good for them, that really worked out super well.

GLENN: Yeah. I know. Yeah, yeah, I know. So we have a couple of things I want to go through. First of all, the CPI, this is the Consumer Price Index. The inflation number, is at 9.1.

The -- I loved your tweet the other day. Let me see if I can find it. You said, first, there will be no inflation. Then inflation is transitory. Inflation is good for you.

Inflation only hurts the rich. Inflation is the consumer's fault. Inflation is greedy business' fault. Inflation is Putin's fault.

Inflation is backward looking. And your last one, bread lines are a great way to meet people. The latest is, it's backward looking. That's what the White House came out and said, those are old numbers. But they didn't say that the new numbers would be better.

CAROL: I mean, backward-looking. Forward-looking. Up, down, and in circle. Whichever way you're looking. This is something that is affecting all of our lives. You know, I was thinking about taxation. And how taxation is a theft.

But it is a one-time theft. It's a one-time theft of your earnings. Inflation is permanent theft. It permanently steals your ability to purchase goods and services. The wealth that you created.

Everything that you worked hard to earn. And saved. To ever

And this is what we're seeing. And, you know, while the 9.1 percent, you know, wasn't necessarily a surprise, it is still really shocking to see it on paper. And as you and I have discussed before. You know, these are the manipulated numbers. These are the formula changes that have happened, a few times since the 1980s. If you looked on this.

You know, how it would have been on an Apples to Apples basis. To the 1980s. It's probably about double that. So this is theft from the American people. By central planning. That was completely avoidable.

And it is just so, so frustrating and angering.

GLENN: So they -- they said, I read an article early this morning, that talked about, there's a possibility, that by the end of the month, the fed is talking now about raising it another point. Another point.

And you gave me a stat a while back. Because people don't think this. Our debt has interest attached to it.

CAROL: Right.

GLENN: And when we go out as a nation, for a trillion dollars, we have to pay interest. And you gave me a stat for every one point added, it adds to our debt and deficit, how much?

CAROL: Okay. So this is not a direct line. But basically, think about this. We have about, you know, a six to seven-year average on our debt. Which means that our national debt is constantly being refinanced. And as we take on new debt, we have to go out and pay for that at new rates. So whether you're refinancing it, or you're taking on a new debt. For every $1 trillion, that we either refinance or take on a new debt, that will be an extra 100 billion dollars. That is added to our interest service on the debt. So stuff we've always paid for.

It's not like when the fed's fund rate goes pick up. It automatically increases the debt, but it does trip through intervals through to the ten-year yields, and the three-year yields, and the two-year yields, which is the way that we have to finance our debt, and what's paid for.

GLENN: Right. So if we did -- have to redo five trillion dollars in our debt, which is not unusual.

If we had to buy and refinance another 5 trillion on our debt, that would add a trillion dollars' worth of debt. Would it not?

Because we've gone up two points. Or we will have gone up two points.

MEGAN: Yeah. That's correct. Yes.

GLENN: Yeah. Holy cow.

CAROL: Yeah. The projections.

GLENN: At what point -- at what interest rate --

CAROL: I was going to say, if you look at the CBO projections. They project out into the future. And the numbers in terms of the debt, and what we'll be paying on it in the future.

And they're using conservative numbers. They're not even expecting these fed rates, would absolutely blow your mind.

It becomes the largest item, that the government has to pay for, which obviously takes away spending from other areas. And/or increases your taxes.

GLENN: Unless you're using modern monetary theory, which we are now basically using, modern monetary theory. Which means, you can print whatever you want. The government doesn't have to worry about it.

But that's impala -- I mean, they said it in Sri Lanka. They're using modern monetary theory. And it's wiped them out. Wiped them out.

CAROL: Yeah, this is basically the concept of what's happening here, in terms of our liabilities.

They're trying to take a dollar from your left pocket, move it to your right pocket. And go, oh, look. You have a new dollar. You know, that's not the way any of this works.

And we're all feeling the effects of this fantastical buy-in to magic money tree, aka MMT, Modern Monetary Theory. The idea that just because you have the printing press, that you can keep printing money, without having a subsequent effect on the that are. You know, the money is supposed to stand for productivity. You earned this. This is a stable representation of your productivity.

If you double or triple or quadruple the amount of -- of those dollars, without increasing productivity, then each one of those, in turn, is worth less. And that is what is happening, and that's why the value of our dollar is being eroded. Go back to that 1970's Saturday Night Live skit with Dan Aykroyd, pretending to be Jimmy Carter. You know, we'll all be millionaires. And we'll be driving around in cars, that cost, you know, $20 million. So it starts great from a top line standpoint, until you kind of get into it.

GLENN: Right. Okay.

So most people put their money in their IRA, and until they get older, they don't even look at it.

And that's probably a good thing, when you're dealing with the stock market. You just leave it in. And it has its ups and downs. And you start looking at it, when you're maybe 50 or 60. And you're like wait a minute. And start to make sure that it's secure. Because there's not a long horizon, that you're looking at.

What's happening to people's 401(k)s, right now, and what can they do?

CAROL: So there was a research study that I picked up, that came out. And they said, from the beginning of the year to June of this year, people have lost $3.4 trillion in their retirement funds, between 401(k)s and IRAs. This doesn't include any other money that may have been in the market. And this is, you know, a horrendous situation, that has been, you know, completely fueled by fed policy. Really going all the way back to the fed chair Alan Greenspan, who decided, he was going to never let the market fall too much, without having some intervention. Then in the Great Recession, financial crisis, Ben Bernanke took that, put it on steroids. And Glenn Powell and his group have done, has been completely crazy. And we are living through these crazy boom-and-bust cycles. I'm sure most of you have noticed that over the last several decades, things are very different, than they were in the decades before. You know, more of these huge booms and busts. And the reality is, that the people who are already wealthy and well-connected, who have that -- that long-term staying power.

They don't mind this at all, because they benefit when everything goes up, and then when everything goes bust.

And, you know, you as -- you know, as somebody who is panicking, and not sure what to do, you take your money out of the market. Or perhaps, you know, in the great financial -- the Great Recession, financial crisis, your home is foreclosed on. You know, all these things have been, and they fall on the shoulders of the little guy.

And then these -- you know, I call them vulture capitalists, come in. Well-capitalized, buy everything up, at pennies on the dollar. And then are positioned for the next boom cycle of interference.

And this is just an epic wealth transfer. It's been happening on an accelerated basis for decades and decades, and is the outgrowth of just this just horrible central banking experiments, that have gone wrong. And has been a complete menace to society, and to the wealth creation opportunities for the average American.

GLENN: So what do people do?

CAROL: So if you can --

GLENN: I think -- I think we're losing the -- I think we're losing the idea of retirement for a lot of people.

I just -- I don't think that retirement is going to be a thing of the -- of the near future.

CAROL: Yeah. Yeah. Certainly not at the ages, that I think people perhaps were expecting. Because you don't know what's around the corner.

This is where I encourage everybody to talk to their financial adviser. Because each person's scenario is so different. And depending on your time frame, you know, because of these boom-and-bust cycles that are caused by fed and central planning, you know, timing is really important. You know, depending on when it is, you decide to change your portfolio structure.

Change everything in your life. But if you are younger, and you have that ability to have the staying power. You want to do the same thing, that the well-capitalized people are doing. And wait for those bust cycles and be able to participate, as a vulture capitalist. Even though if it's on a smaller scale. And buy low. And ride the upside to that. But you need to have that planning in place. Because we are now living in a way that is not free market. It's completely driven by this sort of externality. And that means, that, you know, timing changes. And if you're somebody who is retiring in a bad cycle, you know, you'll feel that burden on an exponential factor.

GLENN: So I have one more question for you, Carol. Let me take a one-minute break, and talk about what all of this is doing.

What's happening is the president just said, hey, you have to be able to retire. And so I believe he just guaranteed all of the union pension. So that means, I'm now paying for union pensions, if they default. Which is insanity! But, again, it's just another give away. I predicted this, I think in 2009. That the government would step in, and take all the union pensions, I guarantee it.

But that -- that means, everybody else is paying for it.

And we're struggling our own selves. I want to talk to you a bit about that. And then also, if this is what is happening here, what is all of this doing to our countries? That have to pay for things, in dollars?

Back with Carol Roth in just a second. Sixty seconds, and we're back.

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GLENN: So, Carol, first of all, explain what the president did with the unions.

CAROL: So he still is running around, talking about the American rescue plan, which is, you know, hilarious. He's got absolutely nothing to hang his hat on.

So he's going back, running back, and talking about what he did in March 2021. Now, obviously, he's not talking about all the bad things that came out of that. You know, things like -- the stimulus, that caused inflation.

And raising the reporting requirements for Etsy. And e Bay. Or lowering them, excuse me, from $20,000. To $600. Because all those millionaires with $600 a pound. We need to crack down on them.

He's hanging his hat on a piece of the legislation. That was in that, that was called the (inaudible) Louis Act. And, basically, that was, we're going to -- to be the guarantor of the union pensions.

Now, we've been told that unions are very important. You know, they need to be there, in order to secure people's futures, and be there for the workers.

But apparently, they're not real good at managing the pensions. So now we need to get involved.

So he touted, this is going to impact, several million pensions. Some of the reports, I'm seeing, are downplaying that number. And saying, it's fewer.

But basically, what they did, is that there was a pension, Guaranteed Corp, and they allowed them to do some things, and change some things around, and make sure that these pensions were solvent. But what they didn't do was actually anything structural, to fix the pensions.

So just like, you know, Social Security. All of the, you know, state pensions, union pensions.

Like whatever it is, that typically has a defined benefit attached to it. It ends up being a huge drag or a huge burden on everybody. And, you know, not solvent. They just kick the can down the road. But since he had absolutely no other accomplishments to hang his hat on, this is what he was talking about. And with the part of it, that really bothered me. And why I wrote the piece from TheBlaze. Again, this is the picking of winners and losers, that we keep seeing, over and over again, with the government. And in this particular case, they're going to focus on making sure that the union folks, don't lose 40 percent of their pension. But as I just told you. You know, through June this year, they said $3.4 trillion was lost from 401(k)s and retirement funds, for other Americans who aren't affiliated with the unions. So that to me, seems again, just this government picking of winners and losers. And certainly, if you're going to do that. You would think, that wouldn't want to be one thing you want to brag about. Maybe you want to do that on the down low. But, you know, he's out there touting that as his accomplishment.

GLENN: All right. Carol, we will we have to cut you loose. I have to get back to an Ohio story in just a second. Would you come back?

I want to -- we are crippling nations all over. Especially emerging nations.

They are going to be starving to death soon. Some of them. And they have to pay their own debt back in dollars. Dollars are becoming more expensive for them. The world is going to hate us soon, I fear. We'll talk about that, when you come back. Thank you so much, Carol.

Why exposing Epstein List would be Trump's MOST DANGEROUS move

During an interview on the Lex Friedman Podcast, Donald Trump hinted that he would release the Epstein client list if he wins the White House. But would that be the final straw for global elites? Glenn explains why he believes Trump’s life is in danger: the global cabal was blindsided once. They can’t let him win again, especially if he’ll expose everything. And Glenn isn’t the only one who believes this. He reviews a clip of Eric Weinstein, who recently made the same argument on the podcast Modern Wisdom.

Transcript

Below is a rush transcript that may contain errors

GLENN: Did you hear Eric Weinstein?

What the podcast he was on. Modern wisdom?

STU: I didn't hear the clip. I was reading about it, though.

GLENN: Okay. You really. This is a good podcast you should probably listen to. A lot of wisdom there. A lot of wisdom.

And it's kind of what we've been saying for a while now.

But I don't know. Eric says it, and it just seems much, much smarter.

It's kind of like, Eric is much, much smarter.

But if he had an English accent, it would be game over.

Everybody would listen to everything he has to say.

So here he is, on Donald Trump. Listen.

VOICE: I don't know whether -- I don't know whether Donald Trump will be allowed to become president.

VOICE: What do you mean by that?

VOICE: I think that there's a remarkable story, and we're in a funny game, which is, are we allowed to say, what that story is?

Because to say it, to analyze it, to say it, is to bring it into view.

I think we don't understand why the censorship is behaving the way it is. We don't understand why it's in the shadows. We don't understand why the news is acting in a bizarre fashion.

So let's just set the stage, believing that was in in February.

There is something that I think Mike Benz is just referred to as the rules-based international order. It's an interlocking series of agreements, tests, and understandings. Explicit understandings.

Clandestine understandings.

About how the most important structures keep the world free of war. And keep markets open.

And there has been a system in place, whether understood explicitly, or behind the scenes, or implicitly. That says, that the purpose of the two American parties, is to prune, the field of populist candidates. So that whatever two candidates, exist in a face-off, are both acceptable to that world order.

So what you're trying to do, from the point of view.

Let's take it from the point of view of, let's say, the State Department, the Intelligence Community, the Defense Department, and major corporations that are -- have to do with international issues, from arms trade to, oh, I don't know, food. They have a series of agreements that are fragile and could be overturned, if a president, entered the Oval Office, who didn't agree with them. And the mood of the country was, why do we pay taxes into these structures?

Why are we hamstrung?

Why aren't we a free people?

So what the two parties would do is they would run primaries. You would have populist candidates, and you would pre-commit the populist candidates to support the candidates who won the primaries. As long as that took place, and you had two candidates that were both acceptable to the international order. That is, they aren't going to rethink NAFTA or NATO or what have you.

We called that democracy. So democracy was the illusion of choice.

What's called magicians choice. Where the choice is -- pick a card. Any card. The magician makes sure the card that you pick, is the one that he knows.

In that situation, you have magician's choice in the primaries. Then you would have the duopoly. Two candidates. Either of which was acceptable. And you could actually afford to hold an election.

And the populace would vote. And that way, the international order wasn't put at risk every four years. Because you can't have alliances, that are subject to the whim of the people in plebiscites. So under that structure, everything was going fine until 2016.

Then the first candidate ever to not hold any position in the military. Or position in government.

In the history of the Republican Party. Or Donald Trump. Broke through the primary structure.

This was a full-court press. Okay. We only have one candidate acceptable to the international order. Donald Trump will be under constant pressure, that he's a loser. He's a wild man. He's an idiot.

And he's under the control of the Russians. And then he was going to be a 20 to one underdog. And then he wins.

And there was no precedent for this. They learned their lesson you cannot afford to have candidates, who are not acceptable to the international order. And continue to have these alliances. This is an unsolved problem.

GLENN: Now. I've been saying for a long time, they're going to kill him.

Because it upsets their plans, and he's the one standing in the way, because he won't play their game. Now, Eric may have expressed this -- expressed this, in a more understandable way. But he's absolutely right.

100 percent right.

And that's why honestly, they're playing the game in the Democratic Party.

Where you didn't get a choice. You didn't have a primary.

You didn't have a primary.

And that's because the president is going to run. But the president can't run. So now, you didn't have a primary, and you have the most unpopular candidate. Ever!

She's never been, she was never popular. She wasn't popular just two months ago.

But now, oh, my gosh, she's hung the moon and the stars.

And we don't know anything about what she plans on doing. Okay.

All right. But she won't upset the international order.

She won't upset the -- the plans, that places like the WEF, and the United Nations. And now all of the western leadership, has come up with.

But you'll notice, those plans are extremely unpopular, with the people, all around the world.

Every -- every Western country now, is in turmoil.

Because they're doing the same thing to them, that they're doing to us. And that is collapse us.

Now, I believe this is to be true, I believe they'll do anything to stop him from winning.

They would put us into chaos. They would put us into Civil War, before they would have him win. They would put us in world war, before they would have him.

And Donald Trump, I just -- please, Mr. President. Please.

They've tried to kill you once. Please.

Don't make it worse. Don't make it worse. Yesterday, he was on a podcast, and he was on the Lex Friedman Podcast. And he got a lot of questions on Lex on foreign policy, et cetera, et cetera. The future going forward.

You know, he started talking about, you know, the Kennedy files. And how the Kennedy files, he kept classified.

Because it was protection of people. Which I'm not sure is exactly accurate.

I don't know what is in the Kennedy file. I have talked to people who have seen it.

And they have led me to believe, that it is not about people. It is about institutions.

But who knows? But Trump said, you know, I probably would not release the Kennedy files. However, Stu, what's the one thing you could say as a presidential candidate, that's pretty much guaranteed that you -- you're dead?

STU: Well, you're going to release the Epstein files.

GLENN: Yes. Yes.

STU: And that would be --

GLENN: Yes. Yes.

But I am going to release the Epstein files. And the client list.

It's very strange for a lot of people, that the list of clients, that went to the island has not been made public.

Yeah. It's interesting, isn't it? Said Donald Trump.

It probably will be.

He said, I'll take a look at it, on the client list. But, yeah.

I'm inclined to do the Epstein thing.

I would have no problem with releasing that list.

Okay. All right. All right.

Remember, Donald Trump is definitely not suicidal.

But if they could put him in jail, he might become suicidal. And some cameras might go down.

Oh, my gosh.

STU: It's happened before, Glenn.

GLENN: This is -- oh, it did?

STU: Yeah. It's happened before.

GLENN: Really? But not related to Epstein?

STU: No. A philanthropist. No.

GLENN: The philanthropist. Yeah.

STU: Do we have this clip here, do you want to hear it? Yeah. Here we go.

DONALD: But a lot of big people went to that island.

Fortunately, I was not one of them.

VOICE: It's just very strange for a lot of people. That the list of clients that went to the island, has not been made public.

DONALD: Yeah. It's very interesting, isn't it? Probably will be, by the way.

VOICE: If you're able to -- you would be --

DONALD: I would certainly take a look at it. Now, Kennedy is interesting because it's so many years ago. They do that for danger too. Because, you know, in dangers, certain people, et cetera, et cetera. So Kennedy is very different from the Epstein thing. But, yeah, I would be inclined to do the Epstein. I would have no problem with it.

GLENN: Hmm. Hmm.

It's currently with the FBI. And it's under the control of one person at the FBI.

So what could possibly go wrong with that?

If it disappears, that would be unfortunate, wouldn't it, Stu?

And completely unexpected.

STU: Yeah. It would be shocking. That would be a shocking development. Look, sometimes, people lose documents.

You know --

GLENN: Happens all the time.

GLENN: Oops. I just dropped it in the shredder.

STU: Yeah. My daughter lost her homework, just last week.

And it was a rough day at school.

GLENN: Right. Right.

STU: This happens to people all the time.

There are shredders all over the place.

GLENN: All the time. You sometimes -- sometimes, you get up in the morning. And you almost exit -- I will step in the shower. And you almost step into the shredder. It happens. It happens, all the time.

STU: All the time.

Another example is, you noted yesterday, that your neighbor's property was on fire. What happened if a fire broke out, where that document was.

GLENN: Yeah. What happened? Oh, man. In the safe. In the safe. In the safe at the FBI.

STU: Yeah. Sometimes. Fires can happen anywhere, Glenn. Sometimes there are little fires that start up in safes.

GLENN: I knew we shouldn't have put it in the same safe, where we put the matches and the gremlin. You know.

I don't know what were we thinking?

What were we thinking? Oh, that's too bad.

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Alleged New York CHINESE SPY is just the tip of the iceberg

A former top aid for New York Governor Kathy Hochul and former Governor Andrew Cuomo has been indicted on suspicion of being a Chinese spy. Glenn speaks with independent reporter Peter Schweizer, whose book “Blood Money” exposes the shocking amount of shady connections to China that exist on both sides of the political aisle. Schweizer breaks down the story of Linda Sun, who is accused of acting as a foreign agent for the Chinese Communist Party in return for a luxurious lifestyle … and a surprising amount of salted ducks. He also explains whether he’s optimistic that the 2024 election can turn things around, or whether Chinese connections will thrive under a “Vice President Tim Walz.”

Transcript

Below is a rush transcript that may contain errors

GLENN: We are under attack in so many different ways. One of those ways is we have been infiltrated by China. And there are Chinese spies, everywhere, and they're at the highest level.

We now find out, we now find out, that we have Kathy Hochul's assistant, the governor of California, high-level adviser, has been being paid by the Chinese government to help them out. How much is your citizenship worth?

How much -- how much would you sell your country out for?

Peter Schweizer is here to tell us, any details, that he has. He has been following the Chinese infiltration for a very long.

Welcome, Peter. How are you?

PETER: Hi, I'm great, Glenn. Always good to be with you. Thanks for having me.

GLENN: Thank you.

So in your book, Blood Money: Why the Powerful Turn a Blind Eye While China Kills Americans. You talk about how many and both on the Republican and the Democratic side, how many people are selling their souls to China.

Tell me about this case. What do you know about it?

PETER: Yeah. So Linda's son was the deputy chief of staff for Kathy Hochul. Before that, she served for years in senior positions for Andrew Cuomo. She was his chief -- deputy chief diversity officer, for example.

And essentially, what she's being charged with in a 60-page indictment. Is getting millions of dollars, from the Chinese government and from the CCP.

And she took her position and used it, for the benefit of China.

So, for example, she blocked representatives from the Taiwanese government, from even having access to the governor's office. She altered state messages, that were important to Chinese officials. So she literally would change a message, to benefit them.

She also helped Chinese officials travel to the United States. She issued unauthorized invitations, that weren't approved by anyone else.

That allowed government officials to come into the United States. And she gave Chinese officials access to private New York government conversations, during the COVID-19 crisis.

Explaining how they were going to respond.

She would actually patch them in, on these high-level group telephone calls.

And in exchange for that, according to prosecutors, she received a lot of benefits from the Chinese government. She was able to buy a 4.1 million-dollar Long Island home, a 2.1 million-dollar condo in Hawaii.

She and her husband also bought a 2024 Ferrari Roma, and I guess maybe my personal favorite, Glenn, she also is accused of getting 16 meals that were prepared by a Chinese government chef. They were salted duck, which sounds good to me.

GLENN: Yeah. Well, it changes -- I mean, once you hear the salted duck thing, that she got 16 of them. You think, well, maybe. Maybe. It changes things dramatically.

Why did it take so long for this to become apparent? What does her husband do, by the way? Do you know?

PETER: Yeah. Her husband in New York, ran a sort of export/import business, a little bit, maybe.

GLENN: Really?

PETER: But the other thing, Glenn, is that she apparently, according to the indictments, think about this, she's a senior state official for Andrew Cuomo and the current governor of New York.

She apparently ran her own business in China, in mainland China, which is where she was born.

She's a naturalized US citizen. But she actually had a business in China, that nobody knew about it.

And the Chinese government also apparently the gave her cousin, a cushy job.

That is mentioned among the indictments as well.

GLENN: How -- how -- how many more are there?

How widespread is this, Peter?

PETER: Oh, it's a massive problem.

And look, this is something you and I have been talking about since 2018.

You've talked about it on Blaze TV.

And that is, that they have avoided, really enforcing the foreign agent's registration act.

Which requires, if you do anything to benefit a foreign government or a foreign government-linked business. You're required to file with the Department of Justice.

And they didn't really support this law, at all.

And then, of course, they used it against various Republicans.

Which, you know, look, if they're guilty of it, they're guilty of it, they should be charged.

But it's selective. This case was a long time coming.

Of course, there is back -- I think a strong case fort same violations, that took place by Hunter Biden.

Faced millions of dollars.

GLENN: Yep. From the Chinese.

PETER: Yep. Yep.

By the Chinese. By the Ukrainians.
By the Romanians. By the Russians.

I think you can make a fair case in every one of those instances, when it relates to Hunter Biden.

And the Department of Justice now in their tax case against Hunter Biden has even said that he ran a for-influence peddling scene, but he's yet to be charged under this foreign agent's registration act, which is what Melinda's son has now been charged with.

GLENN: And he got more than salted duck.

Well, maybe.

I mean, I saw some of the videos.

He might have. Anyway, let's move on.

You know, Peter, I can't thank you enough

For all the work you've done. My mood never improves after talking to you. But I'm appreciative of the not only.

Can I get a read from you, on -- how optimistic are you, that we can turn things around, with this election?

PETER: I'm cautiously optimistic. Look, the bottom line is we have to be realists. You know, the reminder here is we don't want to be optimistic, because you're naive. And you don't want to be pessimistic. Because you just give up all hope. But the bottom line, I do think there are people around Trump, that have Chinese connections. But there are also people around Trump that recognize this problem. I believe those are in the closer inner circle. When you look at Kamala Harris and Tim Walz.

I mean, Tim Walz, does not get -- did not get money from the Chinese.

But he fits the definition of a fellow traveler. And my fear is, that with him as vice president, because he's at an exchange program, with China for 30 years.

They will make him the point person on China policy. And then God forbid, I think we will be in deep trouble.

GLENN: So -- going to be in deep trouble. Peter, when you look at everything that is going on, and what they are now admitting to, and saying, you know, we're going to do price controls. We're going to do unrealized gains tax. You know, the -- their stance on war. Their stance on everything.

I mean, there is no way, that if that's your plan, which is coming together, oh, so nicely, especially when it comes to controlling free speech, all around the world, and we're involved with it, in England and in Brazil, there's no way that Donald Trump, that they could allow him to win.

Because he really is the only thing standing in the way, of all of these very nefarious plans.

PETER: Yeah. I mean, this is the weird place where we are in America, Glenn, where you have Donald Trump, who sort of breaks all molds.

And one of the people that's vigorously supporting him.

Is Robert Kennedy Jr. Who also breaks a lot of molds.

And they will disagree with a lot of policy positions. But the point is, they've recognized the essential problem.

And the essential problem is this desire for control, and dominance.

Where the left has essentially been fused with corporate America. Big government and big business are not enemies. They're actually allies.

And this is the place that we find ourselves.

And I think what the Harris campaign is really trying to do is bank, that a sizeable proportion of the American population, voting population, is going to be ignorant.

So they play this game, where they talk about these policy prescriptions, that really don't have widespread popularity. You know, this tax on unrealized gains is just ridiculous.

But they're -- they're obscuring it enough, to where they think, that a lot of people won't even be aware, that that is her position.

That's the game that they're playing.

And I still want to have enough faith that people will see to that, and understand what's going on.

GLENN: Yeah. I hope so. Peter, thank you so much.

God bless you. Keep on the trail. You bet.

Peter Schweizer. Investigative journalist, who used to be one of the most beloved investigative journalists, when it came to government corruption. Because he rats out both sides. That's not good enough anymore.

You can only rat out one side. And it has to be the conservatives. If you do it to the other side, you're over.

But luckily, his books are well-read by, you know, millions of Americans. So he continues to do his job.

Glenn DESTROYS The New York Times for calling The Constitution a THREAT

A new New York Times op-ed titled “The Constitution Is Sacred. Is It Also Dangerous?” may be the most delusional thing Glenn has read in a while. Glenn reviews the article, which suggests that the Constitution may be a threat to “America’s politics” (hint: IT IS, and it’s supposed to be), that the Constitution may be to blame for Trump, and that our founding document “could hasten the end of American democracy.” Glenn also spots an argument that’s right out of the far-left’s contingency plan for if Trump won in 2020: The Transition Integrity Project. In the end, Glenn points out that the Times isn't the first to suggest that the Constitution is dangerous ...

Transcript

Below is a rush transcript that may contain errors

GLENN: The New York Times just released an op-ed, the America's Constitution is sacred. But is it also the biggest threat to our politics?

Bum, bum, bum. Yes! It actually is a threat to our politics! Yes! As it should be a threat to our politics. The United States Constitution is in trouble. After Donald Trump lost the 2020 election. Really? Is that when it became in trouble, Stu? I mean, I'm just. I'm thinking back. I'm thinking back. You know, a little bit before Donald Trump. Like, I don't know.

Woodrow Wilson. And I've been thinking, the Constitution has been in trouble since about then. Maybe it's just me?

STU: Yeah. That doesn't seem like it was a little bit earlier, considering the words of Woodrow Wilson, who tried to basically do to the founding documents, what happened to that neighbor's mountain.

Like, it just -- light it on fire, and watch it burn.

GLENN: Yeah. That was it. By announcing his desire to throw a Donald Trump.

To throw off Constitutional constraints, in order to satisfy his personal ambitions, Trump was making his authoritarian inclinations abundantly clear. Now, let me ask you.

Who is the one that is currently talking about the redesign of the Supreme Court?

I mean, by the way, I just want you to know, that's what dictators always do.

That is the last step to a banana republic. That is the point of no return.

When you -- when you have the president, or the Prime Minister, or whoever.

Change the makeup of the Supreme Court.

That's the last straw. Now, which one of those is doing that?

STU: Glenn, we're just talking about a return to normalcy.

That's all that is.

That whole renovating the Supreme Court into something that has never existed is a return to normalcy.

GLENN: Yeah. May I ask you, Stu. Isn't this exactly the same thing they did with Joe Biden?

They ran him, and he didn't talk to the press. He never was in front of people.

He was in his basement.

When he was out. He was always on prompter.

And then they just made the case, that he was normal.

He was just like you. He was for all the things you are for. Just a return to normalcy.

That's exactly what they're doing. Again, America!

Come on.

Really.

STU: Yeah. And again, it's important to understand the return to normalcy. Just purveys this throughout the entire campaign.

For example, the return to enormous, of having debates that go through the presidential commission on -- on debates. Remember that whole thing?

That's now basically defunct, because the president of the United States, decided he was going to be cocky. And cancel one of the debates.

Leave the normal format, and then taunt his opponent about it, and lose so badly that he had to end his political career.

And then the person who took over for them, not only didn't go back to the commission and say, hey. Let's start this up again. Let's do three things.

No, no, no. She just had the one that was already there. And tried to change the rules of that.

Then also taunted the opponent in the debate. Let's see if she shows up. Because that would be I think the most normal thing possible.

GLENN: Well, you forgot the most normal part of that story. That is getting the nomination without a single vote cast for her.

STU: Yeah. Normal. Normal, guys.

GLENN: Totally normal. Constitutional.

And totally normal. And, really, what people are demanding.

Anyway, it's no surprise, then that liberals charged Trump with being a menace to the Constitution, but his presidency and the prospect of his re-election have also generated another very different argument. That Trump owes his political assent to the Constitution, making him a beneficiary of a document that is essentially anti-democratic. Wait. Wait. Wait.

You say we're a democracy, okay? You said, we've always been a democracy. What would make us a democracy, would be the Constitution.

But we're not a democracy. The Constitution says we have democratic attributes. But we are a republic. And now you're calling this an antidemocratic document?

I mean, after all, Trump became president in 2016, after losing the popular vote. But winning the electoral college.

Oh, my gosh. Oh, my gosh. You're not going to believe. You're not going to believe this, Stu.

He appointed three justices to the Supreme Court for him article three. Two of whom were just confirmed by senators representing 44 percent of the population. Article one. Whose three justices helped overturn Roe vs. Wade. A reversal that most Americans disagreed with. Imminent legal scholar, Erwin Chemerinsky. Yes. I love Erwin Chemerinsky. They put him in place, long time ago.

He's great. He's an eminent scholar, and he's worried about opinion polls showing a dramatic loss of faith in democracy.

It's never been any faith in democracy!

He writes in his new book, no democracy lasts forever. No.

In fact, that's why we're not a democracy. And that's why our Constitution has lasted. When the average Constitution of the world lasts 17 years, ours has survived since 1781.

I don't know. A little longer than 17 years! Anyway, no democracy lasts from her. It's important for Americans to see that the failure stems from the Constitution itself.

Oh, really? Yes, Mr. Chemerinsky, dean of Berkeley Law School.

STU: Of course. That's Kamala Harris' hometown, by the way. I just wanted to point that out. It's not Oakland.

GLENN: No. It's Oakland.

STU: I know she's a daughter of Oakland. But actually, she grew up in Berkeley and Montreal, and then went to Howard University.

And then went to San Francisco.

GLENN: Yeah.

STU: So you want to talk about a path to normal middle?

GLENN: She's red, white, and blue person.

She, like, screams Constitution and small-town America from Berkeley, California.

STU: Just a heavy emphasis on the red.

GLENN: So...

(laughter)

What are you saying? Red, red, blue. That's who she is? Red, blue. Yes. She's all American. Anyway, he says, he -- Americans have a problem with the Constitution.

And Chemerinsky deemed Berkeley political law school seems to place considerable faith in Constitution, pleading with federal progressives in the book, we, the people. Not to turn backs on Constitution or the courts, but by contrast, no democracy lasts forever.

Markedly pessimistic, asserting that the Constitution, which is famously difficult to amend. It's difficult to amend?

Those should be walk in park! We should be able to -- like mama makes apple pie, when she makes that apple pie, she puts it on shelf. And some neighbor can come and just get it.

I see it in American cartoons. And it should be that easy to amend Constitution.

But it's not. It's very difficult. And he says, what would need to happen is a new constitutional convention.

And in the books, more somber moments. Which I wrote, I entertain possibility of secession.

Vladimir Putin not for secession at all. No. He -- he loves the Constitution of the United States.

And west coast states might form nation called Pacifica.

Red states might form their own country.

But he -- he hopes that any divorce, if it comes, will be peaceful.

STU: Oh.

GLENN: Wait. So hang on just a second.

So this guy is from Berkeley.

And he's talking about Pacifica. Where did I hear this before?

I remember. Before the 2020 election, Stu. The Democrats had some group together, that was going to save America. Remember? In case Donald Trump won. And one of the things they said was, we will have California break up west coast into Pacifica.

California, parts of -- of Oregon. Maybe parts of Washington state. Would become Pacifica.

And that we would break away. And if they didn't want to us breakaway. Then we demand that Trump add two states.

One would be Washington, DC. And the other one would be make a state out of Puerto Rico.

Oh, I remember that now.

Gee!

And what was their problem.

Oh, their problem was, the electoral college.

Which is weird. Because he just didn't mention the electoral college. The prospect of secession sounds extreme, he says. But in suggesting that the Constitution could hasten the end of American democracy.

Chemerinsky is far from alone. Lots of people have got Boris and Natasha, say same thing.

The argument, that what ails the country's politics isn't simply the president or Congress or the Supreme Court, but the founding document itself.

Right?

That's been our problem for the last 250 years?

Thing longest running Constitution, in the longest running republic, in human history.

And that's our problem. All along. That's our problem. Uh-huh.

STU: It's not like we haven't had a good run of success here.

It would be one thing, if we were -- there's an area of outer Mongolia that the United States looked like. And we were a little disappointed in the progress that we had made.

It's kind of the most advanced country ever -- you know, developed. It's -- it's -- it's overseen. This incredible -- you know. All these incredible innovations.

GLENN: Have you looked at it lately. Have you looked at Aurora, Colorado? That's the Constitution's fault.

STU: Oh, when the Venezuelans are taking over the apartment complexes?

GLENN: Yes. Yes. Constitution's fault. How is that Constitution?

Donald Trump.

STU: Yeah.

That's a good point. But you didn't quite -- maybe you need to go a little bit more into depth. Why the words Donald Trump --

GLENN: I won't listen to you, conspiracy theory, anymore. Really honestly.

I'm just looking at this. He says, that the Constitution has incentivized the tyranny of the minority.

It's the Constitution's fault!

You see?

You see? Now, if I remember right, one of the things they put in there, to make sure that there wasn't the tyranny of the minority, was the -- was the electoral college.

That way, California, New York, couldn't dominate everybody in the red states.

You know, kind of what they're doing. And when you talk about tyranny of the minority.

Stu, if it wasn't for -- I mean, it's still a minority. But it's a growing minority.

You know, if it wasn't for 30 percent of all future adults, in America, now claiming to be transgender and gay, and, you know, My Little Pony.

You would say, maybe this is all happening, you know, with the tyranny of the minority.

But no.

No.

STU: Well, that is okay. And as we have talked about, many, many times.

You know, 40. Thirty to 40 percent of the population, being in the LGBTQ population. Is the return to normalcy. We were promised with Joe Biden.

GLENN: Yes.

STU: And Kamala Harris. This is -- everything about this is normal.

Everything.

GLENN: Everything is normal. Now, they always say, that they love the Constitution.

But now they fear the Constitution. And they should.

You know, somebody else feared the Constitution.

It was -- I think it was -- oh. King George.

He thought it was a very dangerous document too.

In fact, every dictator, all around the world has thought for the last 250 years. Wow, that's a dangerous document.

But, hey. The New York Times and the left, they love it. That's it why they've just run, is the Constitution -- is the Constitution sacred?

But is it also dangerous? Or this story, the Constitution is broken, and should not be reclaimed. Or MAGA turns against the Constitution.

Or we had to force the Constitution, to accommodate democracy.

The Constitution won't save us from Trump.

Or the story in the New York Times, is the Constitution obstructing the American democracy?

Let's give up on the Constitution. Or the headline, the US lacks what every democracy needs. Or this is the story how Lincoln broke the US Constitution.

They love it!

Why RFK Jr.’s former running mate chose Trump over the Democratic Party

RFK Jr.’s former running mate, Nicole Shanahan, has thrown her support behind Donald Trump in the 2024 election. She joins Glenn to explain why a liberal like her has endorsed Trump over Kamala Harris and the Democratic Party. Shanahan lists her biggest issues with the current Democratic Party, including why she no longer believes the Democrats are the party of true liberals. Plus, she reviews her viral “TDS” ad and explains how to cure people of Trump Derangement Syndrome.

Transcript

Below is a rush transcript that may contain errors

GLENN: Welcome to the program, Nicole Shanahan. We are thrilled to have you on, Nicole. How are you?

NICOLE: Hi, I'm very good, Glenn. How are you doing?

GLENN: I'm good.

You know, I'm excited on it talk to you for multiple reasons. But we're not going to really talk about policies.

Because I'm sure we disagree a lot on policies. But there is a -- there is a bigger umbrella, that we both really agree on.

And that is the Bill of Rights.

And what is happening to our country right now. Can you take us from where you were, when you first signed up with RFK? And what changed you to the point, to where -- you're now saying, yeah. I mean, Robert is right. He should be running with Trump.

NICOLE: Uh-huh. Yeah. You know, I have been, I'm a lifelong California Democrat, liberal.

And worked really hard, over the last 15 years of my life. To try to do the right thing.

Create, you know, a merit-based society.

I've -- I do it with a lot of love.

I do it with a lot of desire.

And I do it with a lot of science as well.

I'm an AI developer.

In Silicon Valley. Affiliated with Stanford now for over ten years, went to law school, in Silicon Valley. Was an IP lawyer. Entrepreneur.

So I -- you know, was very comfortable within the Democratic Party for many years.

But I have to say, something happened in 2016, that started a cascading series of events. That has led to amorphous, in the Democratic Party, that make it immoral, in my opinion.

Unprincipled. Lacking honesty, lacking transparency, lacking competence.

And they feel entitled, to throw away revery important principles. Principles like the Bill of Rights. Principles like the, you know, our First Amendment. Free speech.

Principles like not using sabotage in Democratic processes.

It's -- and they feel entitled, entirely.
And I've done this investigation.

I did this investigation. Prior to leaving for the party. Because I tried to reform the party.

I tried for years, to find someone at the DNC.

You know, they gutted, you know, any real leadership, at the DNC.

They put in, a guy who is just -- you know, they don't even bother to talk to the official leadership of the DNC. Because they think it's irrelevant.

It's just a carry along program now.

It's just a carry along group, that is just almost an administrative pocket, for the Pelosi contingent.

And so I -- saw it falling apart from the inside. With a great deal of concern.

And, you know, at some point, as a donor, they kind of just push you into a corner. And they say, well, if you don't want Donald Trump, you have to support us.

And that's their bottom line. That's all they have left, as a policy.

Is not Donald Trump.

And my last response, in the weeks before I left the party, was that is not a policy. That is not leadership.

GLENN: Yes.

NICOLE: You can't run on a platform of not Donald Trump.

GLENN: Nicole.

NICOLE: And, you know. Oh, go on.

GLENN: It amazes me, that so many people, are willing to say, to the person who was the lowest ranked vice president, really despised by the -- she couldn't hold anybody in her office.

Her policies were all upside down. For -- for America in 2020 when she was running for president.

And now, people are saying, oh, she's the greatest. Oh, she's great.

They don't care about the policies. They're voting for an oligarchy.

They're voting for a machine. They don't care!

NICOLE: Yeah. And, you know, I think that the thing that makes me really sad is that they're using, these wonderful American sensibilities.

And they're abusing them, to manipulate their voter base. And, you know, she's a woman of color. She -- you know, it's selling that. For everything it's worth right now. And that to me, is the kind of thing that goes against the very liberal principles, that I was raised with.

I was raised with, you know, yes. We should have a social net. We should not be racist.

We should fight for the underrepresented.

But that is not what this is. This has morphed into, something else, entirely.

That tells people, that it doesn't matter, how -- incompetent you are.

If you can check a box of a minority, on a sheet, that is enough.

And you should be celebrated for that fact.

And the -- and that to me, is really sad. And that's why when people say, oh, the Democratic Party is all of these liberal progressives. That's not what this is.

That's actually a form of racism, in my opinion. Because it creates a hierarchy based on race.

GLENN: Yes! It goes against everything Martin Luther King taught. Everything that Martin Luther King taught.

NICOLE: Everything.

And all of the things I was raised on in Oakland as a little girl coming up, and I'm a brownish woman.

Like, I -- like, I have -- I grew up in Oakland. And Oakland public school systems. And you was in a very multi-cultural place. And these are not the principles I was raised with.

So this is coming from someplace else.

And it -- it does ring more closely to what my mother grew up in. With -- in communist China. Which is this single narrative, totalitarianism.

Which uses phrases and slogans.

And really kind of a form of cultural brainwashing.

To really solidify power.

GLENN: So talk to me about -- look, I really don't mind, there's opposition in all things.

And we should be having debates. I don't want my way or the how.

And I'm perfectly willing to accept that America might disagree with me, and go another way. And vote for another candidate.

If we're actually talking about the issues.

You know, if we're actually talking about real policies.

We're not lying to each other, you know. We're not, you know, just operating with chaos. And confusion.

Or, you know, rigging the system.

But that's I think what's happening.

And I don't know how, Nicole, we can reach out to our -- you know, our neighbors. I believe Democrats are good people. I think some of them are bad. Just like some Republicans are bad.

But the average person that lives on my street. That votes differently.

I don't think they want totalitarianism. I don't think they want another war. How do we talk to them, to get them to wake up and go, wait a minute.

This is not what they say they are?

This is -- this is not the democratic party, anymore.

NICOLE: Yeah. I'll just be honest with you, Glenn. My lived experience now, running for office, with RFK Jr., as a third party, and seeing how low the Democrats went and how they qualified their behavior with these beliefs. That, you know, some of them know, are just not true.

Like, let's talk about what Rachel Maddow said about, if Trump wins, he will be a dictator, and he will send people like me to camp.

That is a big statement, for someone on the mainstream media to say.

This is not a joke. And so, people who respect the mainstream media, are watching this. And taking it as truth. And it really -- so, you know, I feel like my job has been trying to take statements like that. And unpackage them for the -- for the Democrats, who are listening to that.

And only receiving their news through those channels. And telling them. I'm really sorry you believe this. It's a scary thing to believe.

I know you believe it fully in your being right now.

But she's lying to you. And let me tell you why.

So I just --

GLENN: Okay. Wait. Wait. Wait. Wait. Can you unpack that for us here? Let me take a break for one minute. Then we'll come back. Then you unpack it. Tell us -- do what you do.

And convince people, who are dead asleep, why that's a lie.

Back in just a second with Nicole Shanahan, in just a second. First, let me talk to you about Lear Capital. You know, everything that is happening right now with the global economy.

You know, we are lucky enough to be in the situation, where we are the world's reserve currency.
But that can destroyed.

And I think it's being destroyed by using Cloward and Piven's strategy of collapsing the system. Just -- just get everybody on to the dole, as much as you can. That's why, you know, we're I guess in California, now. They're just, if you're an illegal. Or you're -- you know, an undocumented, you can now get a loan, through the government.

That's insanity! Insanity!

So what is going to happen?

Well, eventually, we will lose our world reserve currency status.

And that will mean, we will be Venezuela, overnight.

Please, somebody has to have something, when -- when this happens.

And when it's really not a question of if, anymore. I don't believe.

That's why I would like to recommend that you consider putting maybe five or 10 percent of what you have, into gold or silver.

Gold or silver is where the world traditionally always has returned.

It's, you know, the gold standard.

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Ten-second station ID.

And then....

GLENN: So how do you convince people, Nicole?

Go through that, and unpack that.

NICOLE: Yeah. So I've been toying with different ways of doing this with my team.

I don't know if you saw the ad we released last week.

GLENN: I love it. Love it.

NICOLE: You know, I had never even heard of that term, until I went on Tomi Lahren, and she used that phrase.

GLENN: Wow.

NICOLE: And after my interview with Tomi, I had to look it up.

GLENN: Wow.

NICOLE: And I thought it was really interesting. Because when I -- when I paired, this idea of like, you know, people are so afraid. Of Donald Trump. For these reasons.

For the reasons, that, you know, Rachel Maddow is propagating.

It really creates a -- an environment of psychosis.

So I try to approach it, in the same way, I approach somebody, who is having a really hard time.

And maybe it's because they don't have full information.

Or they've been shaken by something. Or someone.

Or there's peer pressure around them. And I -- you know, humor always breaks through, that first layer. If you can get people to laugh, they -- they loosen up.

It sends these either happy chemicals through the body.

And it actually opens up the brain for receptivity.

So we -- I was just -- like, we produced that video, for I think under $10,000.

And it's gotten 65 million views.

We didn't have to buy influence or anything.

GLENN: It's fantastic.

NICOLE: We just had to be good. We had to be funny. And we also had to kind of show truth in it. If you go through that TDS commercial, there's a lot of truth in it. We don't mince words.

GLENN: Right.

NICOLE: We're really gentle. We don't even endorse Trump at the end of it. We're just calling for people's independence, to return to them.

Their critical thinking.

And they laugh. Even the Dems, truly showed it to -- laugh. You know, some people were resentful.

There was a -- my father-in-law is actually a never Trumper. And he was a little resentful. But he still chuckled.

So that opened up a conversation. That then allows us to dig a little deeper.

And that next layer is really going, point by point through.

All of the top ten things that Never Trumpers believe. They believe that January 6 was an insurrection, and innocent service members on Capitol Hill died, as a result.

And so you have to unpack that. Megyn Kelly did a really, really good job with that one.

But there are certain facts that are just being kept from Democrats, about January 6th, and the insurrection.

You know, for one, that Trump called for peace.

He said, go forward peacefully.

GLENN: Right.

NICOLE: And then issues around the National Guard not being deployed.

There were so many inconsistencies. And unpacked there at that. You have to do it patiently. There are really smart Democrats. They take time to get through.

But once you get through that first layer of TDS, you can start to be -- the second one is that -- go on.

GLENN: No. Go ahead. No, no, go.

NICOLE: I'll just go through the top three.

GLENN: Okay. All right.

NICOLE: The second one, I keep hearing, about Donald Trump.

Is he's bad for women.

And gays.

And I've had many of my gay community, come to me, and say, how can you be supporting someone who could hurt me.

And I -- my response is, you know, he was actually one of the first presidents on day one, to -- to say gay marriage was okay.

He never attacks gay marriage. And they don't know that. People don't know that. And then reproductive freedoms I hear a lot as well. And this is one in which I think that the Democrats really screwed themselves. Because it -- it was the Supreme Court. The highest court in our nation, handed down effectively constitutional reframing of reproductive freedoms, from being a federal issue, to a state issue.

That's all that happened.

GLENN: Thank you.

NICOLE: That's all that happened.

So when people say, he took away my reproductive freedoms.

And I'm like, what state are you in?

New York. Well, my sister works at Planned Parenthood. I'm like, how many -- how many abortions did she do last year? And they're like, oh, she's done a lot actually.

GLENN: Right.

NICOLE: So I'm kind of just, you know, trying to level it in the most compassionate way I can. Any time you're dealing with somebody, out of fear, the best thing to do is to have compassion.

GLENN: Nicole, I would love to have you for a podcast. I find you fascinating.

And I hope, that more ask more people catch on to what you're doing.

And wake up. Our republic depends on it.

Nicole Shanahan. Thank you. God bless.