RADIOMarch 18, 2022

Why are woke CEOs using ESG to DESTROY our free market?

Americans already have trust issues. But now, woke CEOs are making it worse. Business leaders of major corporations often are in support of far-left measures publicly but say the opposite behind closed doors. And because so many leaders in society are too afraid to take a stand, ESG — the ‘largest social credit scoring system in human history’ — is destroying our free market. Vivek Ramaswamy, author of ‘Woke, Inc.,’ joins Glenn to discuss how the Great Reset, ESG, and the ‘ideological cartels’ pushing such measures are seeping into societies around the world faster than you may think. Plus. Ramaswamy explains what he believes will be the defining political struggle of our time — something he calls the ‘Great Uprising’ — and it’s NOT about political parties…

Transcript

Below is a rush transcript that may contain errors

GLENN: Hello, America. And welcome to the Glenn Beck Program. There is a massive lie that you're being told. And that is that ESG and the great reset is not what you think it is. It's not what these crazy people say it is.

Well, those crazy people that say what it really is, are the people that are at the top of the food chain. The elites that have put it together, and put it into action.

And, you know, when we were working on this ESG legislation, up in -- up in Idaho. We were working with 20 different states.

Idaho folded like the a cheap suit. And it's because the lobbyists are coming out. And they're spending a fortune, to lobby against anyone who is trying to pass any kind of legislation against ESG.

It's a lie, when they say, oh, no. This is just the free market. No, it's not. No, it's not.

It's the opposite of the free market. It is 21st century fascism. Vivek Ramaswamy is with us. He's the author of Woke, Inc.

And, Vivek, I wanted to get you on, because you had a couple of really good articles and tweets lately. And I just kind of wanted to mine this and have you explain what you mean by this. I wish CEOs would say in public, what they say in private, about their views on ESG, and DEI. It would go a long way towards restoring our trust in leaders.

ESG represents the greatest social credit scoring system, in human history. Wow.

Welcome to the program. You want to go into that?

VIVEK: Yeah. Absolutely, Glenn. Thanks for having me. And I'm really glad that a voice like yours is on top of what I feel is a defining issue of our time.

GLENN: Amen.

VIVEK: Which is the use of the private sector to do through the back door, what governments cannot do through the front door.

That is what -- I call this the three-letter acronomized version of capitalism. Some call it ESG. Some will say TEI. Some will say CCR. Behind it all, is the CCP.

But whatever three-letter acronym you prefer, it's actually the definition of modern crony capitalism, which works in reverse.

It's not the companies bribing the government to do their work. It's also the government bribing companies in return, to do their work back for them.

And so, you know, look, I'm an author. I've written these books. But I've also been a CEO. Right? I'm a founder and CEO, fortunately of a multi-billion-dollar company.

I was a hedge fund partner for years before that. I wasn't born (inaudible) in America, but I've lived it for the last 15 years. I know how the game is played.

I will tell you, I had lunch with the CEO of one of the largest companies in his industry. And it was actually the day that I put out that first tweet.

I was so frustrated coming out of it. I felt like his therapist the whole time. Where he had read my book. And wanted to complain to me, about all the things that he had to go through. He's the CEO of the company, mind you.

Yet, at the end of the day, actually I look at some of the statements he had been making. It's a carbon footprint of diversity and inclusion must be part of our agenda. ESG is a part of our future.

It's clear to me, he doesn't mean the things he's saying. But the actual loss of public trust in many ways, comes from the fact, that even when the words are coming out of the CEO's mouth, whether you're on the right or the left, you know you can't believe them. That's what I meant by that. That particular remark.

GLENN: It is truly terrifying. When I was working against these lobbyists. Small banks. Local banks. Were coming to the -- the representatives in the state. And saying, please. I cannot say this out loud.

But please, pass anti-ESG legislation. Or we're all toast.

Please, pass this. People are not willing to say it out loud. And that's killing us. It's killing us.

VIVEK: That's the culture of feature. And to me, the best measure of any democracy, especially the American democracy, are the percentage of people, are willing to say what they actually think in public.

When there's no doubt, that we're doing worse than any time that I can remember in my lifetime on that metric.

Because we have combined the use of economic force, with the normative questions that we settle through a democracy. And so you look at democracy. You're supposed to settle questions through persuasion and free speech and open debate in the public square.

Maybe you and I would have one view on climate change and appropriate policy towards it, and maybe somebody else would have a different view. Or how do we correct for racial injustice? Somebody else has a different view, great.

In democracy, we talk in the open, in the civic sphere and persuade each other with ESG and the related stakeholder capitalist movement do.

They substitute economic force, fire in you, excluding you from the economy. Et cetera. They use that force, as a substitute for free speech and open debate.

And the ESG movement, in particular, uses the force of capital ownership in companies to do it. Where you have an ideological cartel of $20 trillion in the hands of the top three asset managers in the country.

BlackRock, State Street, and Vanguard. That go to the top companies in this country. Show up as the shareholder, and say that, we are the shareholders. We want you to implement diversity, equity, inclusion.

Cut your carbon emissions. If you're an oil company, stop producing oil.

But guess what, the people whose money they're using to wield that power, are your listeners. Are me. Are you. Are everyday Americans, whose money is being weaponized back against them, in ways that would make their blood boil. If they actually knew what was going on.

We're teaching them what's going on.

GLENN: That's why -- well, that's why it is so frustrating.

We just had a secretary of -- or, the State Treasurer of Idaho, fold. And take a tough ESG bill. And just put one in it, without any teeth. And the whole idea was, don't invest in places like BlackRock. That are working against the people of our state.

By --

VIVEK: Is this Julie Ellsworth you're talking about?

GLENN: Why do you ask?

VIVEK: Oh, it was the State Treasurer of Idaho you're mentioning.

GLENN: Yeah. Do you know her?

VIVEK: I mean, I spoke to a conference of the State Treasurers a couple months ago, and most of them were in the audience. And I was explaining to them, look. It's not BlackRock's money. It's not your money either. It is the money of your citizens.

GLENN: Thank you.

VIVEK: That ultimately, actually finds their way into the public's fist, which in turn, finds its way into the fist of BlackRock. Which then uses that money to vote those shares and to whisper campaign into the ears of the top 500 CEOs of the country to say, this is what we, as the investors, want, betraying the idea that it's not the State Treasurer's money. Actually, it's not the BlackRock manager's money. It is the money of those everyday citizens. Here's what I will say about State Treasurers. Is many of their hearts are in the right place. Actually, many of them are starting to wake up to the phenomenon, because they're hearing from their constituents.

GLENN: Many are.

VIVEK: Unlike BlackRock's CEO, unlike Larry Fink, they are politically accountable, and that is a good thing. That is how a democracy works. So that mechanism of political accountability, has caused them to wake up.

But they're also accountable to the force of dollars through lobbying and political contributions that pull them at the other direction.
But I think at the end of the day, they're accountable to the people.

And what we need to educate people on, is the fact that it is their own money, that they get to vote as well.

Not just vote every November at the ballot box. But their second vote and their third vote comes from the capital they spend, the way their shares are voted in the marketplace of corporate America. And I think that that tide is getting ready to shift.

So I'm optimistic, that even though many of these people -- it will take a lot of courage for the first few state treasurers to sort of jump into the deep end of the pool, and go the other way. But I think that that's what the people are demanding.

And the more we shine a sunlight on a problem, the more we make progress towards the solution. I'm personally working on creating alternatives in the marketplace, to provide consumers with actually bringing a voice to the table. I think that's the most important problem of our time.

GLENN: Thank you. Thank you. Thank you. I agree.

This is it. If this is implemented, we become China.

And it's over. The freedom that we have. The Constitution means nothing. And I think the best example of this. And people aren't tying this together.

We're not the ones that -- that have decided to go to war against Russia.

These sanctions, these are not governmental sanctions. This is ESG.

McDonald's pulling out, after they said they didn't want to, and then they -- they -- they announced, I thought this was amazing, that they had real reputational risk, that they had to consider. So they closed McDonald's.

These decisions are --

VIVEK: I'm glad, yes.

GLENN: These decisions are not being made through public pressure. They're not being made through our elected officials. They're not being made by voters, regular people. They are being made by the boardrooms, after they get the calls from the banks and the financial industry.

VIVEK: Exactly. And, you know what, this is how both sides are duped into submission. Liberals and conservatives.

Liberals used to be skeptical of corporate power. But they've accepted it as corporate powers, used to advance their own objectives.

We, conservatives, for our part, are duped into submission within because they say, that the free market can do no wrong.

Without recognizing, that free market does not exist today. And both sides are due to the rise of this woke industrial -- ESG industrial complex.

That's actually far more powerful than big government alone, because it can work with the private sector to do what big government cannot do.

I think you're -- I feel a little shy preaching to you. But I think the -- I think the defining political force of our time and struggle, is not left versus right, actually.

It is the everyday citizen, versus the managerial class. It's The Great Reset, which calls for dissolving the boundaries between institutions globally, and see those institutional leaders work together towards their vision of the common good, versus what I call the great uprising. Which is also a transnational movement of everyday citizens, who are beginning to say, no. We make those decisions in a democracy together.

It's our voice that matters, equally. To Larry Fink, or anyone else sitting in a corner office. And those two forces, Glenn, I believe are on a collision force.

You know, we won't see it in 2022. Because it's the let's go Brandon agenda or whatever. Partisan politics in the United States, that is boring to me.

But in the couple of years after, this is coming to a head. It's an existential question for democracies in the West.

And look, I'm on the side of the great uprising. I want to channel that energy in a productive direction.

GLENN: Me too.

VIVEK: And I think we can do that. And I think it's the most important question of our time.

GLENN: I just said, a couple minutes ago. Republicans, you better wake up to this right now.

Because the people will go -- if they don't find somebody, that is reasonable to lead them, and to tell them the truth, I'm telling you, both sides. Both sides. Of reasonable people, that work for a living.

I don't care how you voted. They're going to find out what this is all about. And they're going to be hurting financially.

And God help us. About to do help us.

We're headed for real trouble.

VIVEK: Amen.

GLENN: And, you know what, Vivek, you're the only person that I've heard that really talks about the whole world is in it.

We're so focused on ourselves, that we don't understand that Brexit is about the same kind of thing.

VIVEK: That's right. And the truckers in Canada.

GLENN: Yes.

VIVEK: Know the same thing in their bones, this is a trans partisan, transnational issue. And, you know what, I don't have much faith in the Republicans actually. I think, at the end of the day, most of them are institutionalists. Most of them are bought and sold, just like the other side.

GLENN: I don't either. Yeah.

VIVEK: That's why the partisan politics of this is boring. It misses the issue. It almost deflects the issue by retrofitting a model -- a historical model on to a phenomenon right now that is totally different.

It is the everyday citizen, versus the managerial class, and there are members of both parties in each task. You and I both spoke at CPAC. Tulsi Gabbard, she spoke at CPAC. She ran for president of the United States on the Democratic party ticket. She still was the best I could tell, from her comments, on the side of the everyday citizen. So there's people -- and God knows, there's a lot of Republicans on the side of the managerial class.

So I think we will need to rethink the boundaries, and I think it's everyday citizens versus managerial class. It is Great Reset versus great uprising.

That's the way we need to be recognizing, this beyond partisan, beyond national boundary issue.
And last point, I will make. Glenn, you're one of the few people, who I've heard, who put his finger on the international dimension of this. You just did it a little bit ago. But in China, it's really, really important to watch for. Because they understand, that capitalism, all right? Is the Trojan horse, through which they win the great power struggle.

If Greece would have never defeated Troy militarily, China will never defeat the United States militarily. But they have recognized that the ESG link movement, creates an opportunity to turn our multi-national companies based here, into Trojan horses, to undermine our own agenda from within.

I'll give you a very specific example. I can give you countless examples. But a recent one. For my book. Not from my book.

Is BlackRock.

Okay? They take three seats. Three changed seats on the board of Exxon.

Okay?

And they tell Exxon that you need to cut oil production. They call that ESG-friendly. Let's see what that's done for gas prices here. Let's see what it's done for our reliance on foreign producers of oil, one year later. But put that to one side.

You think those projects are still going to happen? Or will they not happen? Whatever you think about climate change and carbon emission. Those projects are still going to happen, and better positioned to take on those projects. Are going to be none other than the likes of PetroChina. Which can take on the projects, that -- and if we say who is an almost equally large shareholder of PetroChina. I'm sure you can guess. It's the same guys, who wanted us to cut oil production in the United States. BlackRock.

GLENN: Unbelievable. Unbelievable believable.

DAVID: So this is unbelievable. At the end of the day, China is able to use capital force from the terror market access, to the golden goose of the Chinese market, as a weapon, to get those same companies to weaken the United States within, by applying so-called ESG standards, without applying those same standards to China broad. So that's how they've been playing this game. And they're playing us like a Chinese mandolin, and it's working. But it will only work as long as we're not seeing it.

GLENN: Vivek, I would love to have you on again soon. You 100 percent get it, and your voice needs to be heard. Vivek Ramaswamy. He's the author of Woke, Inc.

If you haven't read it yet, you should get it. Great to talk to you, Vivek. We'll talk again hopefully soon.

EXCLUSIVE: Chip Roy Explains His FIERY Rejection of Spending Bill

According to the media, there’s a big fight going on between Republicans over the House’s new slimmed-down continuing resolution spending bill. Some, including President-elect Donald Trump, wanted the bill to pass. But others, like Texas Representative Chip Roy, argued that it still wasn’t ready. However, is the Republican “unity coalition” really crumbling, like the media claims? Rep. Chip Roy joins Glenn to explain what’s really going on. He argues that he IS trying to give Trump and DOGE a 100-day “runway” to fix the country. But he makes the case that, by increasing the debt ceiling by $5 trillion without agreeing on other cuts, this bill gives bad actors the ability to be an “obstacle” to Trump’s agenda further down the line. Plus, he reveals to Glenn that he believes some of these bad actors LEAKED false information about his stance to Mar-a-Lago.

Transcript

Below is a rush transcript that may contain errors

GLENN:

I think we have a great opportunity today. To show you how to have a -- tough conversation, with friends, friends. Where you deeply disagree on something.

But you know that their intent is good. They know my intent is good. Or our intent is good.

And we actually have the same end goal, but we disagree on the path. And we're going to walk away friends.

Chip Roy is joining us today. And, Chip, I love you. And I always will. And I agree with your, we've got to cut spending. We have to. But Liz Wheeler is with me. And we've been talking about it all morning. It's the -- the -- the -- the system of DOGE and Trump, the call-out to the world, in saying, you've got to surrender the Capitol. You know, the bad guys are in and about to take all the money.

Surround, and tell them, come out with your hands up. And that happened. And we scored a massive win, in an entirely new way.

Ask then you stood on principle, one we both agree with.

And it failed!

And so here's -- here's what Liz and I were talking about. Here's what we want to say to you.

And then get your response.

LIZ: Hi, Congressman Roy, this is the way I see it. I want your take on it. I love you. I think you're one of the best members of Congress. I disagree with you on the process that's happening. And I think that is the difference. The process. We elected Donald Trump to be a disruptor. Because Republican members of Congress for decades have been telling they're fiscal conservatives. They want to decrease the debt SEAL. It hasn't happened.

It hasn't -- it hasn't been done. And so Donald Trump comes in with Elon Musk, and uses this DOGE process to first identify these pieces of garbage in the first 1500-page bill. And take those things to the people. We took them to members of Congress. Congress said, okay. We'll listen to you.

So that new process was very effective.

And my question to you is: Once that process was proved to be effective. Which I think is exciting and wonderful.

How do we bridge this divide, with you, to say, okay.

Let's put some faith in this new process. And trust Elon Musk and Donald Trump and the Dow Jones process, to eventually address the debt ceiling, but get this done right now?

GLENN: And not blind trust. Chip.

CHIP: So appreciate you guys. Appreciate being on the show. Particular order. I have to go through a couple of things.

GLENN: Yep.

CHIP: Number one, it's important to remember that my job and my duty is to the Constitution, to God, and the people I represent. I told them, when I came to Washington, I would not -- I would not let the credit card and the debt ceiling and the borrowing of the United States without the spending restraints necessary to offset it.

GLENN: Okay.

CHIP: Right now, all we have are promises and ideas and notions. What I know, that neither of you respectfully no, and that none of your listeners respectfully no are the people that are in the room, that I was in with yesterday. And the day before, who are recalcitrant.

And do not want to do the spending cuts that we need to do.

That I believe the president and the DOGE guys. And everybody want to do.

My job, is to force that through the meat grinder. To demand that we do our damn job. Okay?

GLENN: Okay. So hang on. Okay. So wait. Wait. You're right. You're right. You're right. Go ahead.

CHIP: Number thee, when we were going through the bill, I'm glad the bill dropped from 1,550 pages to 116 pages. Three-quarters of Twitter or X or whatever you want to call it, have been out there spreading false facts that we supported a bad bill and didn't like the better bill.

That's not true. But let's be Lear. The 1400 pages that were cut out. It's a panacea.

There were some good stuff in there. There were some bad stuff in there. There was a lot of disinformation.

There wasn't a $70,000 pay raise. There was a 3,000-dollar pay raise.

I didn't support any pay raise. I didn't support a lot of the stuff in there.

But there's a lot of misinformation. And here's the thing: The 116 pages that were left, and I opposed violently the first bill. I was leading the charge on fighting and killing the first bill.

GLENN: And I love you.

LIZ: The second bill for 116 pages. Turned off -- turned off the pay go requirement. That we slash 1.7 trillion automatically.

And added a 5 trillion that are increase.

My view was, I could not support that, without a clear understanding of what cuts we would get, in mandatory spending next year. And undo any of the Inflation Reduction Act.

The undoing of the student loans. The undoing of the crap with the food stamps.

And everything else. I yield back.

GLENN: Okay. I yield back.

Chip, you're not in a hostile room. We love you. And we agree with your end goals. It's our end goal too. We didn't make that promise that you made to the people that voted for you. So we have more wiggle room here.

But you say -- I think our big difference is, you say, I know the guys in the room.

You're right. You do. And we -- we ceded that earlier today on the show.

You are -- one of us is wrong on trust.

I don't trust any of the weasels in Washington.

But I think Donald Trump and Elon Musk and Vivek Ramaswamy have earned enough trust, to get a grace period, here for the first -- maybe the first year.

Or at least six months.

To turn the economy around, and also reduce the size of the government.

And totally flip this thing.

And I know, as somebody who is -- you know, run a company, mainly into a ground. But run a company, and have to switch it, in the middle, and totally reshuffle. That -- that actually costs money, while you're doing it, to bridge the gap.

Because you have to fill up holes while you're filling in the gap.

You don't trust the people in the room. Neither do we.

But we do trust the system that worked on Wednesday with DOGE and Donald Trump.

Where do we disagree?

Can you give them --

CHIP: We don't disagree. And yesterday morning, I was making that precise argument in a room full of conservatives and then a follow-up room with people who will call it, less conservatives.

GLENN: Republican. Yes.

CHIP: And so we were making this argument. And then someone infamously. Something leaked out of the room, somehow out to Mar-a-Lago. That I was being resistant. Because I was negotiating trying to get the agreement to achieve the objective that you just said. I was trying to get, okay. In fact, yesterday morning, I made the argument to a group of conservatives. We need to give the president runway. We need to give him his first 100 days. We need to appreciate JD, and Vivek, and all the people -- and everybody involved. For the president to achieve the objective.

But to get there. We have to make sure that the guys in the room, that are an obstacle to that, don't have the ability to block it.

Because information flow matters. And when those guys tell the president, they can't achieve X.

Then the president will not achieve X. Our job was to force and demand, guys, we need actual understanding of what the cuts will be.

And because otherwise, we're asking us to accept a 5 trillion-dollar limit in our credit card increase. In exchange for nothing!

Literally, in exchange for nothing, but -- but hope.

So our job was to force that change.

Unfortunately, while I was trying to make the argument that we needed something in order to get the votes, someone leaked that down to Mar-a-Lago, and the president reacted.

But now I have to now manage that.

GLENN: Right. I know. I know.

CHIP: They're trying to enforce change in town.

GLENN: So hang on.

We have to leave this. Because I'm going to run against the clock.

I could talk to you all day about this. You were in a meeting this morning about J.D. Vance. Can you tell us anything about that meeting?

CHIP: That meeting happened, because despite what happened yesterday, I'm trying to get this done. Last night, talking to JD, we worked to get this meeting done. We had some good progress this morning.

But there still remains people concerned about spending. That we can work out, what agreement we can reach. On what spending cuts. We can actually get next year, in exchange for giving the vote on a debt ceiling increase.

So it remains fluid. Progress was made. But we have to keep working on it.

And I left that meeting to talk to you. Soil get an update in a minute.

GLENN: Thank you for that, by the way.

I hear there is a new bill that may be coming today.

Is that the one you're talking about?

Or is this another bill that could be another nightmare?

CHIP: Despite other people leaking crap, I refused. I can't say, because it's not been decided by the speaker.

And it's not right to talk about things they're talking about in private meetings.

GLENN: Yeah, but it's -- it's this speaker. I mean, is he really the speaker anymore, Chip, really?

CHIP: We need to hear what bill we need to get forward. And I can't talk about the private meetings. But, look, I'm going to keep fighting for what I promised people that I represent.

I'm going to fight to cut spending. I am going to represent article one.

I'm going to support the president's agenda, but we've got to do that together.

GLENN: Okay.

Chip, thank you.

I think we can -- I think we agree, but I await to see what that means to you. Because we may just have to agree to disagree on this.

But I love you. And I still want you to replace Cornyn.

CHIP: The short version is, for inflation's sake, we cannot increase the debt ceiling $5 trillion without knowing what we're getting for it.

And I don't think anybody should disagree with that.

GLENN: But you don't disagree that Elon Musk and Trump and Vivek are serious about gutting the system.

CHIP: I believe that is their objective. I believe there are obstacles to that objective. And I need to know the sincerity of how we deal with those obstacles, both structural, and human. And we have to figure that out. And that's my job.

America's Favorite Villain Is Ready for Nuclear Fallout. Are You? | Glenn TV | Ep 401

In this episode of Glenn TV — a theatrical how-to guide to survive the breakdown of society after a nuclear attack, according to the new movie “Homestead” from Angel Studios. Glenn Beck interviews the movie’s star and executive producer, Neal McDonough, who plays the head of a family trying to survive as society is breaking down in a postapocalyptic world. You’ve probably seen Neal in everything from the hit TV shows “Yellowstone,” “Suits,” and “Justified” to movies like “Captain America,” “Minority Report,” and the groundbreaking mini-series “Band of Brothers.” Glenn asks Neal what it’s like to play a villain so often, how TV and movies are changing, and how he survived Hollywood as a devoted Christian and husband who refuses to do onscreen kissing scenes with any of his female co-stars. They also discuss his battle with alcoholism, what it’s like working the legends like Sylvester Stallone and Kevin Costner, and the cultural craving for Western cinema. Note: Angel Studios is a sponsor of “The Glenn Beck Program.” Get your tickets for “Homestead” at https://Angel.com/Beck.