Economist: Unstoppable economic collapse is imminent

It's the end of the world as we know it...and Glenn finally isn't the only one saying it! Raoul Paul, who previously co-managed the GLG Global Macro Fund and is a Goldman Sachs alum, has a pretty bleak prediction for what is coming to Europe and the rest of the world. What does he think is coming? The worst economic shock the world has ever seen and, even worse, there's nothing we can do to stop it!

See the Pal's presentation HERE

"The world has no engine of growth with most of the G-20 countries approaching stall speed at the same time. Now, what is that? G-20, that's the 20 biggest countries in the world. Approaching stall speed. We have no engine of growth. Ask yourself this question: What is the engine of growth in the United States? Currently it is being set up that the engine of growth is the stimulus package, is the United States government. Is that real growth? I contend - and you know the answer - no," Glenn explained.

"The western world is about to enter a second recession in an ongoing depression.For the first time since the 1930's, we're entering a recession. Before industrial production, durable goods orders, employment, and private sector GDP have made back their previous highs. Hear that again. For the first time since the 1930's before we've made if back up on our feet. Usually we have a recession, it starts to grow again, and then we come back down. This is -- this is a new trend."

"Fact: This will to be the lowest cyclical peak in GDP growth in G-7 history. These are the weakest ever foundations on which to enter a recession."

"The problem is down to one thing: Debt."

"This is significant. The 10 largest debtor nations on earth have total debts of over 300% of world GDP. History tells us that when sovereign defaults occur, what does that mean? Sovereign defaults? Sovereign default, if a sovereign default occurs, that means Greece goes out of business, Spain goes out of business, Portugal goes out of business. The Euro is a bubble. It will crash," Glenn said.

"History tells us when sovereign defaults occur, they come in a series of defaults. We need to understand history in order to grasp the present. The domino effect. In history when you have a default, one falls into the other and the other and the other. So, he says, what is coming? EU sovereign debt defaults. UK sovereign default. Japan sovereign default. South Korea, sovereign default. China, sovereign default."

"So, he says all of these will default and the biggest banking crisis in world history. Then he's got a few of the charts saying the end of finance, the end of Europe, the end of world trade. Then he has a picture of a hurricane and the eye of the hurricane. He says, We are here. We don't know exactly what is to come, but we can all join the very few dots from where we are now to the collapse of the first major bank, with very limited room for government bailouts.Why is that? Do you remember when we spoke two -- four years ago now, maybe almost close to five, we said that there would come a time that these bailouts wouldn't work, that they would throw money at the system, and then I said, When they do this and it doesn't change any of the factors, they have to immediately shut the faucets off and go the other way. Otherwise, they'll continue to print too much money, they'll digitize too much money. They'll flood the market with too much money and the engine will stall because you flooded it or you will have a rocket ship on your hands and you will have hyperinflation and you'll have out of control interest rates eventually. With very limited room for government bailouts, meaning we've got nothing less -- nothing left now. There's no bullets in the gun except meaningless printed. We can easily join the next dots from the first bank closure to the collapse of the whole European banking system and then to bankruptcy of the governments themselves. There are almost no breaks in the system to stop this and almost no one realizes the seriousness of this situation."

"The problem is not government debt, per se. Listen carefully. The real problem is The 70 trillion in G-10 debt, the top 10 governments around the world, The 70 trillion is the collateral for $700 trillion in derivatives. That number equates to 1200% of global GDP and rests on very, very weak foundations."

"Imagine the UK defaulting. What do you think would happen to Japan and China? Would they not be next? And do you think that the U.S. would survive unscathed? This is the end of the fractional reserve banking system and of fiat money. It is the big reset. This is what we've been talking about for quite some time. The big reset. This is what George Soros has wanted, the big reset."

"When the system has to be rebooted, who are the players that are designing that? This is why when people say to you, George Soros, why would anybody want this to happen? Because if you know the reset is coming, anyway, if you know it's unsustainable, then you want to be the one to design what the future looks like."

Glenn continued to read, "From a timing perspective, I think 2012 and 2013 will usher in the end. You have to understand that the global banking collapse and massive defaults would bring about the biggest economic shock the world has ever seen. There would be no trade finance, no shipping finance, no finance for farmers, no leasing, no bond market, no nothing. The markets are, frankly, at a terrifying point of realizing that there is nothing they can do including quantitative easing to prevent this collapse. The next phase, as Spain and Italy go, will be to see nationalization of banks -- the nationalization of banks and the assumption of bank debts on government balance sheets. This is what we talked to you about on Friday. We have Tim knee Geithner coming out and saying, The governments have to take this debt on. Then expect to be shut out of financial markets. Bonds will be stuck at 1% in the U.S., Germany, and UK, and Japan for this phase. The whole bond market will be dead. That means nobody wants to invest in companies. Short selling on bonds will be banned. Short selling stocks will be banned. CBS, banned. Short futures, banned. Put options, banned. All that will be left will be the dollar and gold. As defaults in governments and banks come to fruition, we risk a closure of the stock market entirely and a closure of the banking system as occurred in Argentina in 2001, Russia in 1998, and Brazil in 1999. We have around six months of trading in western markets to protect ourselves or make enough money to offset future losses. Spend your time looking at the risks of custody safekeeping, counterparty, et cetera. Assume that no one and nothing is safe. After that put your tin helmet on and hide until the new system emerges. I wish I could see another option with an equally high probability, but I can't find one. All we can do is hope that I'm wrong, but either way, a new system will emerge and it will open up a whole new set of opportunities, but we are going back 40 years in time and 1500 to 3000 years in trading."

"This, again, from not a schlub. This again coming on the heels of what George Soros said this weekend. George Soros said that he felt the EU had three months. They're saying the same thing."

"Now, the question is: What do you do about it? What does this all mean? That's what this whole week is about on the Glenn Beck Program and GBTV. Four steps. And I want you to seriously consider them with your family. I want you to seriously consider actually getting involved more than you already are," Glenn said. "I promise you by the end of the week that you will see that there is a way out and all you have to do is not panic. The first step is to commit, not to tune out because you can't handle it. You can, you will, and you'll lead the way out."

What do clay pots have to do with to preserving American history?

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Editor's note: This article was originally published on TheBlaze.com.

Why should we preserve our nation’s history? If you listen to my radio program and podcast, or read my columns and books, you know I’ve dedicated a large part of my life and finances to sourcing and preserving priceless artifacts that tell America’s story. I’ve tried to make these artifacts as available as possible through the American Journey Experience Museum, just across from the studios where I do my daily radio broadcast. Thousands of you have come through the museum and have been able to see and experience these artifacts that are a part of your legacy as an American.

The destruction of American texts has already begun.

But why should people like you and me be concerned about preserving these things from our nation's history? Isn’t that what the “big guys” like the National Archives are for?

I first felt a prompting to preserve our nation's history back in 2008, and it all started with clay pots and the Dead Sea Scrolls. In 1946, a Bedouin shepherd in what is now the West Bank threw a rock into a cave nestled into the side of a cliff near the Dead Sea. Instead of hearing an echo, he heard the curious sound of a clay pot shattering. He discovered more than 15,000 Masoretic texts from the third century B.C. to the first century A.D.

These texts weren’t just a priceless historical discovery. They were virtually perfect copies of the same Jewish texts that continue to be translated today. Consider the significance of that discovery. Since the third century B.C. when these texts were first written, the Jewish people have endured a continued onslaught of diasporas, persecutions, pressures to conform to their occupying power, the destruction of their temple, and so much more. They had to fight for their identity as a people for centuries, and finally, a year after the end of the Holocaust and a year before the founding of the nation of Israel, these texts were discovered, confirming the preservation and endurance of their heritage since ancient times — all due to someone putting these clay pots in a desert cave more than 2,000 years ago.

I first felt a prompting to preserve our nation's history back in 2008, and it all started with clay pots and the Dead Sea Scrolls.

So, what do these clay pots have to do with the calling to preserve American history? I didn’t understand that prompting myself until the horrible thought dawned on me that the people we are fighting against may very well take our sacred American scriptures, our Declaration of Independence, and our Bill of Rights. What if they are successful, and 1,000 years from now, we have no texts preserved to confirm our national identity? What kind of new history would be written over the truth?

The destruction of American texts has already begun. The National Archives has labeled some of our critical documents, like our Declaration of Independence, Constitution, and Bill of Rights, as “triggering” or “containing harmful language.” In a public statement, the National Archives said that the labels help prepare readers to view potentially distressing content:

The Catalog and web pages contain some content that may be harmful or difficult to view. NARA’s records span the history of the United States, and it is our charge to preserve and make available these historical records. As a result, some of the materials presented here may reflect outdated, biased, offensive, and possibly violent views and opinions. In addition, some of the materials may relate to violent or graphic events and are preserved for their historical significance.

According to this statement, our founding documents are either “outdated, biased, offensive,” “possibly violent,” or a combination of these scathing descriptions. I’m sorry, the Declaration of Independence is not “triggering.” Our Constitution is not “outdated and biased,” and our Bill of Rights certainly is not “offensive and possibly violent.” They are glorious documents. They should be celebrated, not qualified by such derogatory, absurd language. Shame on them.

These are only the beginning stages of rewriting our history. What if they start banning these “triggering” documents from public view because they might offend somebody? Haven’t we torn down “triggering” statues before? What if we are no longer able to see, read, and study the actual words of our nation's founding documents because they are “harmful” or “possibly violent”? A thousand years from now, will there be any remnant to piece together the true spirit behind the nation that our founders envisioned?

The Declaration of Independence is not “triggering.”

That is why in 2008, I was prompted to preserve what I could. Now, the American Journey Experience Museum includes more than 160,000 artifacts, from founding-era documents to the original Roe v. Wade court papers. We need to preserve the totality of our nation’s heritage, the good, the bad, and the ugly. We need to preserve our history in our own clay pots.

I ask you to join with me on this mission. Start buying books that are important to preserve. Buy some acid-free paper and start printing some of the founding documents, the reports that go against the mainstream narrative, the studies that prove what is true as we are continually being fed lies. Start preserving our daily history as well as our history because it is being rewritten and digitized.

Somebody must have a copy of what is happening now and what has happened in the past. I hope things don’t get really bad. But if they do, we need to preserve our heritage. Perhaps, someone 1,000 years from now will discover our clay pots and, Lord willing, be able to have a glimpse of America as it truly was.

Top 10 WORST items in the new $1.2 TRILLION spending bill

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Biden just signed the newest spending bill into law, and Glenn is furious.

Under Speaker Johnson's leadership, the whopping $1.2 TRILLION package will use your taxpayer dollars to fund the government through September. Of course, the bill is loaded with earmarks and pork that diverts money to fund all sorts of absurd side projects.

Here is the list of the ten WORST uses of taxpayer money in the recently passed spending bill:

Funding venues to host drag shows, including ones that target children

David McNew / Contributor | Getty Images

Money for transgender underwear for kids

Funding for proms for 12 to 18 year old kids

Bethany Clarke / Stringer | Getty Images

Border security funding... for Jordan and Egypt

Another $300 million for Ukraine

Anadolu / Contributor | Getty Images

$3.5 million for Detroit's annual Thanksgiving Day parade

Icon Sportswire / Contributor | Getty Images

$2.5 million for a new kayaking facility in Franklin, New Hampshire

Acey Harper / Contributor | Getty Images

$2.7 million for a bike park in White Sulfur Springs, West Virginia, a town with a population of less than 2,300 people

$5 million for a new trail at Coastal Carolina University

$4 million the "Alaska King Crab Enhancement Project" (whatever that means)

FRED TANNEAU / Stringer | Getty Images

There is no doubt about it—we are entering dark times.

The November presidential election is only a few months away, and following the chaos of the 2020 election, the American people are bracing for what is likely to be another tumultuous election year. The left's anti-Trump rhetoric is reaching an all-time high with the most recent "Bloodbath" debacle proving how far the media will go to smear the former president. That's not to mention the Democrats' nearly four-year-long authoritarian attempt to jail President Trump or stop his re-election by any means necessary, even if it flies in the face of the Constitution.

Meanwhile, Biden is doing worse than ever. He reportedly threw a tantrum recently after being informed that his polls have reached an all-time low. After Special Counsel Robert Hur's report expressed concerns over Biden's obviously failing mental agility, it's getting harder for the Democrats to defend him. Yet he is still the Democratic nominee for November, promising another 4 years of catastrophic policies, from the border to heavy-handed taxation, should he be reelected.

The rest of the world isn't doing much better. The war in Ukraine has no clear end in sight, drawing NATO and Russia closer and closer to conflict. The war in Gaza is showing no sign of slowing down, and as Glenn revealed recently, its continuation may be a sign that the end times are near.

One thing is clear: we are living in uncertain times. If you and your family haven't prepared for the worst, now is the time. You can start by downloading "Glenn's Ultimate Guide to Getting Prepared." Be sure to print off a copy or two. If the recent cell outage proved anything, it's that technology is unreliable in survival situations. You can check your list of supplies against our "Ultimate Prepper Checklist for Beginners," which you can find below:

Food

  • Canned food/non-perishable foods
  • Food preparation tools
  • Go to the next level: garden/livestock/food production

Water

  • Non-perishable water store
  • Water purification
  • Independent water source

Shelter

  • Fireplace with a wood supply
  • Tent
  • Generator with fuel supply
  • Go to the next level: fallout shelter

Money

  • Emergency cash savings
  • Precious metals

Medicine

  • Extra blankets
  • Basic first aid
  • Extra prescriptions
  • Extra glasses
  • Toiletries store
  • Trauma kit
  • Antibiotics
  • Basic surgery supplies
  • Potassium Iodate tablets

Transportation

  • Bicycle
  • Car
  • Extra fuel

Information

  • Birth certificates
  • Insurance cards
  • Marriage license
  • Immunization records
  • Mortgage paperwork
  • Car title and registration
  • House keys, car keys
  • Passports
  • Family emergency plan
  • Prepping/survival/repair manuals
  • Go to the next level: copy of the Bible, the U.S. Constitution, and other important books/sources

Skills

  • Cooking
  • Gardening
  • Sewing
  • First Aid
  • Basic maintenance skills
  • Go to the next level: farming/ranching
  • Self-defense training

Communication

  • Family contact information and addresses
  • HAM radio

Miscellaneous

  • Flashlights and batteries
  • Lamps and fuel
  • Hardware (tools, nails, lumber, etc)
  • Extra clothes
  • Extreme weather clothes and gear
  • Gas masks and filters
  • Spare parts for any machinery/equipment

Is Trump's prosecution NORMAL?  This COMPLETE list of ALL Western leaders who served jail time proves otherwise.

PhotoQuest / Contributor, The Washington Post / Contributor, Win McNamee / Staff | Getty Images

Mainstream media is on a crusade to normalize Donald Trump's indictments as if it's on par with the electoral course. Glenn asked his team to research every instance of a Western leader who was jailed during their political career over the past 200 years—except extreme political turmoil like the French Revolution, Napoleonic Wars, Irish Revolution, etc.—and what we discovered was quite the opposite.

Imprisoning a leader or major political opponent is not normal, neither in the U.S. nor in the Western world. Within the last 200 years, there are only a handful of examples of leaders in the West serving jail time, and these men were not imprisoned under normal conditions. All of these men were jailed under extreme circumstances during times of great peril such as the Civil War, World War II, and the Cold War.

What does this mean for America? Are Trump's indictments evidence that we are re-entering times of great peril? Below is a list of Western leaders who were imprisoned within the last 200 years. Take a look and decide for yourself:

Late 1800s

The Washington Post / Contributor | Getty Images

Jefferson Davis: The nearest occurrence to a U.S. President to serve jail time was in the case of Jefferson Davis, the first and only president of the Confederate States of America. Jefferson was captured in Georgia by Northern Soldiers in 1865 and locked up in Fort Monroe, Virginia for two years. He was offered a presidential pardon but refused out of his loyalty to the confederacy.

Early 1900s

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Eugene V. Debs: Debbs, a Midwestern socialist leader, became the first person to run for president in prison. He was locked up at a federal penitentiary in Atlanta having been convicted under the federal Sedition Act for giving an antiwar speech a few months before Armistice Day, the end of World War I. Many of his supporters believed his imprisonment to be unjust. Debs received 897,704 votes and was a distant third-part candidate behind Warren G. Harding, the Republican winner, and James M. Cox, the second-place Democrat. Harding ordered Debs’s release from prison toward the end of 1921.

Nazi sympathizers and collaborators: After the end of World War II in 1945, several European leaders who had "led" their countries during the Nazi occupation faced trial and imprisonment for treason. This list included Chief of the French State Philippe Pétain, French Prime Minister Pierre Laval, and Minister-President of Norway Vidkun Quisling. The latter two were also executed after their imprisonment. President of Finland Risto Ryti and Prime Minister of Finland Johan Wilhelm Rangell were also tried and jailed for collaborating with the Nazis against the Allied Powers.

Late 1900s

The Washington Post / Contributor | Getty Images

The end of the Cold War: The fall of the Berlin Wall in 1989 was one of the pivotal moments that brought the Cold War to a close and marked the end of Communist East Germany. With the fall of the wall and the collapse of the German Democratic Republic (East Germany), the former leaders were brought to trial to answer for the crimes committed by the GDR. General Secretary Erich Honecker and General Secretary Egon Krenz were both put on trial for abuse of power and the deaths of those who were shot trying to flee into West Germany. Honecker was charged with jail time but was released from custody due to severe illness and lived out the rest of his life as an exile in Chile. Krenz served 4 years in jail before his release in 2001. He is one of the last surviving leaders of the Eastern Bloc.

Lyndon LaRouche: Larouche was a Trotsky evangelist, public antisemite, and founder of a nationwide Marxist political movement, became the second person in U.S. history to run for President in a prison cell. Granted, he ran in every election from 1976 to 2004 as a long-shot third-party candidate. When he tried to gain the Democratic presidential nomination, he received 5 percent of the total nationwide vote. Even though in 2000 he received enough primary votes to qualify for delegates in a few states, the Democratic National Committee refused to seat his delegates and barred LaRouche from attending the Democratic National Convention.