RADIOMarch 21, 2023

War & civil unrest: What could happen if the BANKS COLLAPSE

Glenn doesn’t believe America’s recent banking crisis is the big one he’s been warning about…but that one still may be just around the corner. And the numbers he shares in this clip at least show that the big banks aren’t looking good. So, what’s next? In this clip, Glenn details several scenarios — like war and massive, civil unrest — that could occur if and when the banks collapse. He explains why bank failures could lead to a central bank digital coin and also why you MUST not panic: ‘Panic makes this whole thing happen…

Transcript

Below is a rush transcript that may contain errors

GLENN: If you're a long-time listener of this program, you know I'm always concerned with the financial crisis. It stems back to 2008, which I thought at the time, back in 2006 and '7, I was telling you, this is a big one. Could cause depression. What I didn't foresee, was that the federal government, what was it that George Bush said? Violate the free market system to save the free market system. Instead, we did not save the free market system. What we did was make the problem bigger. At the time, in 2008, our banks were too big. Too big to fail. We have to break these big banks up.

Well, nobody did that in 2008. In fact, the opposite happened. They got bigger. And now well, what's happening?

They're bailing the bigger banks out. Making the big banks bigger. Credit Suisse just rolled into a big bank. This is what will happen. We will end up with four banks. And then we will end up with the fed.

And by violating the free market, everything went off the rails. Last week, banks borrowed a combined $164.8 billion, from two Federal Reserve backstop facilities.

And so you know, data published by the fed showed 152.85 billion in borrowing from the discount window.

Then, they did a record high from 4.85 billion, the previous week. So they went from 5 billion to 152 billion, in a week.

The prior all-time high was in 2008. And that's when the banks got together, and they borrowed $111 million. That was at the height of the financial crisis.

Remember, we're not in a financial crisis. We had a little bump in the road. Everything is fine. They borrowed 152 million.

So what? 41 billion more, than they did in 2008.

STU: To be fair, with inflation, that number is 94 trillion today.

GLENN: The data also showed, 11.9 billion in borrowing from the new emergency backstop known as the bank term funding program, which was launched last week.

Other credit extensions totaled 142.8 billion dollars.

So you got all that. You got all that happening, in the background of everybody telling you, that it is fine.

I want you to know, if you're a long-time listener, you know that I freak out about these things.

I said last week, I don't think this is it. But it will look a lot like this, when it does come.

And I want to spend just a couple of minutes here, talking to you about what is coming eventually.

I -- I could be wrong, this could be it.

I don't think it is. But I am growing more cautious by seeing what's happening behind the scenes.

Lots of planes. Lots of planes flew in to see Warren Buffett over the weekend, after Warren Buffett had a phone call with Joe Biden about the banking system, all these people, we don't know who they are, we think they went and met with Warren Buffett. We don't know. But what I do know, is in 2008, we were trying to stop a depression. Remember? They said, the entire banking system was about to collapse. And it would have put us in a depression. There's $23 trillion in the US banking system today. And everything is interconnected.

The contagion, meaning one bank falls, and then it's dominoes. It goes across the water. And it will collapse everything, unless you're disconnected.

Hello, Russia. Unless you're disconnected from that banking system. The banks were saved in 2008.

But just that crisis, with them being saved, we had unemployment at nearly 11 percent.

We are now looking at a bigger problem, if it fails.

We're looking first at our big local and regional banks.

The government will have to bail them out. By the way, do not take your money out of those banks.

You will be FDIC-insured. If you're a business, check with the bank. But don't take your money out because that will collapse the system.

They provide 60 percent of all of our commercial loans.

If the small banks collapse, 60 percent of all of our loans, and our businesses collapse.

Be very, very bad.

We are not looking at a depression situation. We are looking at a complete collapse of the West if this happens. You'll have social unrest. But I think you're already. I mean, the government is assuming this up already.

It will happen not only here. But all over the western world.

That will cause a further breakdown of supply chains. If you lose 60 percent of your business funding, for your businesses and your country, what does that mean?

It means, you will have lots of people, without jobs, they're not making things.

Which then what happens?

You have the supply chain, you first need to worry about medicine and food.

Because that will be of a real concern. But if businesses lose their Capitol. They lose their ability to produce products and services. They lose their ability to employ. People lose their jobs.

That would make for worse inflation. Maybe hyperinflation. Because the federal government will bail everybody out. And all of that money. Will be circulating. And fewer goods, if the global economy were to collapse. Fewer goods would be coming in. So the price of those goods would go to hyperinflation. The issue is that the middle class. The working class. The poorer class. They're the ones who will bear the brunt of most of this.

Last time, around from 2007 to 2011, 5.7 million people, had their houses foreclosed, or short sale.

We are looking at a possible and it -- I really, truly believe this will happen before 2025, so you need to mentally prepare. This is a completely different world, if this happens.

And if it happens, it will happen quickly. We are headed towards a currency reset.

If it's a -- if it is a cryptocurrency, if it is a central bank digital coin. CBDC, we're going to get bargaining.

And here's what's going to happen. The government will step in, this is too big for anybody else to handle. We'll handle it with the fed. We're resetting the currency.

It's going to be a digital dollar. You will be in the fed.

Every American has an account now with the fed.

We will give you more than what your dollar is worth right now. For the first, I don't know, eight weeks.

Your dollar will be worth a dollar 25. So get your digital currency now.

And in six weeks, it will be worth a buck. And six weeks after that, it will worth 75 cents. Eventually, it will be worth nothing. And it will force everybody into a digital currency. Which will ultimately control absolutely everything you do, and a lower standard of life.

But a lot of people will be happy. Because there's some enormous. It also would mean that most likely, a war. All of these things are -- are beyond possible right now.

The financial and the reset to a digital currency is not just possible. It is probable.

The war. I don't know. What would you say, Stu? Probable? Or just still possible?

STU: Probable?

GLENN: Yeah, I think so too.

Probable. So you have to get yourself in a different mindset. Please.

I told my wife. And I'll tell you, because I want to tell you, what I would tell my own family.

We have to go shopping tonight. You know, we have our emergency food. But if this happens, you'll have a breakdown worse than COVID.

You won't be getting the money. The money will start to inflate quickly. Prices will spiral out of control.

And when you have -- especially in some areas, when you have a breakdown of trucking. Or supply chains. You will have a hard time getting things.

So I would just recommend, do not hoard, but grab some extra things, and have them ready.

This may not be the time. But I like to sleep at night.

Take care of your family, and do the right things. Do not panic.

Panic makes this whole thing happen. So do not panic.

Could passengers have SAVED Iryna Zarutska?

Surveillance footage of the murder of Ukrainian refugee Iryna Zarutska in Charlotte, NC, reveals that the other passengers on the train took a long time to help her. Glenn, Stu, and Jason debate whether they were right or wrong to do so.

Transcript

Below is a rush transcript that may contain errors

GLENN: You know, I'm -- I'm torn on how I feel about the people on the train.

Because my first instinct is, they did nothing! They did nothing! Then my -- well, sit down and, you know -- you know, you're going to be judged. So be careful on judging others.

What would I have done? What would I want my wife to do in that situation?

STU: Yeah. Are those two different questions, by the way.

GLENN: Yeah, they are.

STU: I think they go far apart from each other. What would I want myself to do. I mean, it's tough to put yourself in a situation. It's very easy to watch a video on the internet and talk about your heroism. Everybody can do that very easily on Twitter. And everybody is.

You know, when you're in a vehicle that doesn't have an exit with a guy who just murdered somebody in front of you, and has a dripping blood off of a knife that's standing 10 feet away from you, 15 feet away from you.

There's probably a different standard there, that we should all kind of consider. And maybe give a little grace to what I saw at least was a woman, sitting across the -- the -- the aisle.

I think there is a difference there. But when you talk about that question. Those two questions are definitive.

You know, I know what I would want myself to do. I would hope I would act in a way that didn't completely embarrass myself afterward.

But I also think, when I'm thinking of my wife. My advice to my wife would not be to jump into the middle of that situation at all costs. She might do that anyway. She actually is a heck of a lot stronger than I am.

But she might do it anyway.

GLENN: How pathetic, but how true.

STU: Yes. But that would not be my advice to her.

GLENN: Uh-huh.

STU: Now, maybe once the guy has certainly -- is out of the area. And you don't think the moment you step into that situation. He will turn around and kill you too. Then, of course, obviously. Anything you can do to step in.

Not that there was much anyone on the train could do.

I mean, I don't think there was an outcome change, no matter what anyone on that train did.

Unfortunately.

But would I want her to step in?

Of course. If she felt she was safe, yes.

Think about, you said, your wife. Think about your daughter. Your daughter is on that train, just watching someone else getting murdered like that. Would you advise your daughter to jump into a situation like that?

That girl sitting across the aisle was somebody's daughter. I don't know, man.

JASON: I would. You know, as a dad, would I advise.

Hmm. No.

As a human being, would I hope that my daughter or my wife or that I would get up and at least comfort that woman while she's dying on the floor of a train?

Yeah.

I would hope that my daughter, my son, that I would -- and, you know, I have more confidence in my son or daughter or my wife doing something courageous more than I would.

But, you know, I think I have a more realistic picture of myself than anybody else.

And I'm not sure that -- I'm not sure what I would do in that situation. I know what I would hope I would do. But I also know what I fear I would do. But I would have hoped that I would have gotten up and at least tried to help her. You know, help her up off the floor. At least be there with her, as she's seeing her life, you know, spill out in under a minute.

And that's it other thing we have to keep in mind. This all happened so rapidly.

A minute is -- will seem like a very long period of time in that situation. But it's a very short period of time in real life.

STU: Yeah. You watch the video, Glenn. You know, I don't need the video to -- to change my -- my position on this.

But at his seem like there was a -- someone who did get there, eventually, to help, right? I saw someone seemingly trying to put pressure on her neck.

GLENN: Yeah. And tried to give her CPR.

STU: You know, no hope at that point. How long of a time period would you say that was?

Do you know off the top of your head?

GLENN: I don't know. I don't know. I know that we watched the video that I saw. I haven't seen past 30 seconds after she --

STU: Yeah.

GLENN: -- is down. And, you know, for 30 seconds nothing is happening. You know, that is -- that is not a very long period of time.

STU: Right.

GLENN: In reality.

STU: And especially, I saw the pace he was walking. He certainly can't be -- you know, he may have left the actual train car by 30 seconds to a minute. But he wasn't that far away. Like he was still in visual.

He could still turn around and look and see what's going on at that point. So certainly still a threat is my point. He has not, like, left the area. This is not that type of situation.

You know, I -- look, as you point out, I think if I could be super duper sexist for a moment here, sort of my dividing line might just be men and women.

You know, I don't know if it's that a -- you're not supposed to say that, I suppose these days. But, like, there is a difference there. If I'm a man, you know, I would be -- I would want my son to jump in on that, I suppose. I don't know if he could do anything about it. But you would expect at least a grown man to be able to go in there and do something about it. A woman, you know, I don't know.

Maybe I'm -- I hope --

GLENN: Here's the thing I -- here's the thing that I -- that causes me to say, no. You should have jumped in.

And that is, you know, you've already killed one person on the train. So you've proven that you're a killer. And anybody who would have screamed and got up and was with her, she's dying. She's dying. Get him. Get him.

Then the whole train is responsible for stopping that guy. You know. And if you don't stop him, after he's killed one person, if you're not all as members of that train, if you're not stopping him, you know, the person at the side of that girl would be the least likely to be killed. It would be the ones that are standing you up and trying to stop him from getting back to your daughter or your wife or you.

JASON: There was a -- speaking of men and women and their roles in this. There was a video circling social media yesterday. In Sweden. There was a group of officials up on a stage. And one of the main. I think it was health official woman collapses on stage. Completely passes out.

All the men kind of look away. Or I don't know if they're looking away. Or pretending that they didn't know what was going on. There was another woman standing directly behind the woman passed out.

Immediately springs into action. Jumps on top. Grabs her pant leg. Grabs her shoulder. Spins her over and starts providing care.

What did she have that the other guys did not? Or women?

She was a sheepdog. There is a -- this is my issue. And I completely agree with Stu. I completely agree with you. There's some people that do not respond this way. My issue is the proportion of sheepdogs versus people that don't really know how to act. That is diminishing in western society. And American society.

We see it all the time in these critical actions. I mean, circumstances.

There are men and women, and it's actually a meme. That fantasize about hoards of people coming to attack their home and family. And they sit there and say, I've got it. You guys go. I'm staying behind, while I smoke my cigarette and wait for the hoards to come, because I will sacrifice myself. There are men and women that fantasize of block my highway. Go ahead. Block my highway. I'm going to do something about it. They fantasize about someone holding up -- not a liquor store. A convenience store or something. Because they will step in and do something. My issue now is that proportion of sheepdogs in society is disappearing. Just on statistical fact, there should be one within that train car, and there were none.

STU: Yeah. I mean --

JASON: They did not respond.

STU: We see what happens when they do, with Daniel Penny. Our society tries to vilify them and crush their existence. Now, there weren't that many people on that train. Right?

At least on that car. At least it's limited. I only saw three or four people there, there may have been more. I agree with you, though. Like, you see what happens when we actually do have a really recent example of someone doing exactly what Jason wants and what I would want a guy to do. Especially a marine to step up and stop this from happening. And the man was dragged by our legal system to a position where he nearly had to spend the rest of his life in prison.

I mean, I -- it's insanity. Thankfully, they came to their senses on that one.

GLENN: Well, the difference between that one and this one though is that the guy was threatening. This one, he killed somebody.

STU: Yeah. Right. Well, but -- I think -- but it's the opposite way. The debate with Penny, was should he have recognize that had this person might have just been crazy and not done anything?

Maybe. He hadn't actually acted yet. He was just saying things.

GLENN: Yeah. Well --

STU: He didn't wind up stabbing someone. This is a situation where these people have already seen what this man will do to you, even when you don't do anything to try to stop him. So if this woman, who is, again, looks to be an average American woman.

Across the aisle. Steps in and tries to do something. This guy could easily turn around and just make another pile of dead bodies next to the one that already exists.

And, you know, whether that is an optimal solution for our society, I don't know that that's helpful.

In that situation.

THE GLENN BECK PODCAST

Max Lucado on Overcoming Grief in Dark Times | The Glenn Beck Podcast | Ep 266

Disclaimer: This episode was filmed prior to the assassination of Charlie Kirk. But Glenn believes Max's message is needed now more than ever.
The political world is divided, constantly at war with itself. In many ways, our own lives are not much different. Why do we constantly focus on the negative? Why are we in pain? Where is God amid our anxiety and fear? Why can’t we ever seem to change? Pastor Max Lucado has found the solution: Stop thinking like that! It may seem easier said than done, but Max joins Glenn Beck to unpack the three tools he describes in his new book, “Tame Your Thoughts,” that make it easy for us to reset the way we think back to God’s factory settings. In this much-needed conversation, Max and Glenn tackle everything from feeling doubt as a parent to facing unfair hardships to ... UFOs?! Plus, Max shares what he recently got tattooed on his arm.

THE GLENN BECK PODCAST

Are Demonic Forces to Blame for Charlie Kirk, Minnesota & Charlotte Killings?

This week has seen some of the most heinous actions in recent memory. Glenn has been discussing the growth of evil in our society, and with the assassination of civil rights leader Charlie Kirk, the recent transgender shooter who took the lives of two children at a Catholic school, and the murder of Ukrainian refugee Iryna Zarutska, how can we make sense of all this evil? On today's Friday Exclusive, Glenn speaks with BlazeTV host of "Strange Encounters" Rick Burgess to discuss the demon-possessed transgender shooter and the horrific assassination of Charlie Kirk. Rick breaks down the reality of demon possession and how individuals wind up possessed. Rick and Glenn also discuss the dangers of the grotesque things we see online and in movies, TV shows, and video games on a daily basis. Rick warns that when we allow our minds to be altered by substances like drugs or alcohol, it opens a door for the enemy to take control. A supernatural war is waging in our society, and it’s a Christian’s job to fight this war. Glenn and Rick remind Christians of what their first citizenship is.