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Former Treasury Secretary confirms TheBlaze’s Sept. 2013 report that Russia played a role in the 2008 financial crisis

March 18, 2014
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The Glenn Beck Program

Back in September of 2013, For The Record looked at the possibility that countries hostile to the U.S., like China and Russia, may have artificially driven up the price of oil and intentionally crashed the stocks of some financial institutions, escalating chaos prior to the 2008 economic crisis. Yesterday, a BBC report seemingly confirmed this investigation.

In a September article for TheBlaze.com, TheBlaze’s senior Washington correspondent Sara Carter explained the threat of economic terrorism to the United States.

Carter writes:

China, Russia and even Al Qaeda, among others, all have one thing in common: They believe that unconventional warfare against America’s economy is the best way to destroy our nation without actually ever having to fire a shot.

And our enemies almost made it happen in 2008.

[…]

[F]ormer senior U.S. officials disclose what the Pentagon and Washington establishment had been hoping to bury — that the near economic collapse of the United States in 2008 was not due to widespread failures in government regulations, but a planned attack to destroy our nation perpetrated by both China and Russia.

Read Carter’s entire report HERE.

Watch the initial coverage from September’s For The Record: Unrestricted Warfare below:

Six months after For The Record’s report, it appears others in the media are starting to pick up the story. In a BBC article published yesterday entitled “Russia ‘planned Wall Street bear raid’”, business editor Robert Peston describes the cynical relationship between the United States and Russia as “deep, rooted in history.” Furthermore, the relationship shows that the “triumph of capitalism over communism wasn’t the end of the power game between these two nations.”

The BBC article relies on excerpts from interviews with former U.S. Treasury Secretary Hank Paulson that were conducted for the BBC Two documentary “How China Fooled the World.” These comments didn’t make the film.

In relation to the 2008 financial crisis, particularly Fannie Mae and Freddie Mac, Paulson explained that the Chinese were the “biggest external investor holding Fannie and Freddie Securities.” As a result, China was “very, very concerned” when Fannie and Freddie began to melt down. At that moment, the Russians allegedly tried to draw up a pact with the Chinese.

“Here I’m not going to name the senior person, but I was meeting with someone… This person told me that the Chinese had received a message from the Russians which was, ‘Hey let’s join together and sell Fannie and Freddie securities on the market,’” Paulson explained. “The Chinese weren’t going to do that but again, it just, it just drove home to me how vulnerable I felt until we had put Fannie and Freddie into conservatorship [the rescue plan for them, that was eventually put in place].”

While Paulson clarified that “this guerrilla skirmish in markets by the Russians and Chinese didn't happen,” Peston believes Paulson’s comments are “pretty jaw-dropping stuff.”

“The Chinese told Hank Paulson that the Russians were suggesting a joint pact with China to drive down the price of the debt of Fannie and Freddie, and maximize the turmoil on Wall Street - presumably with a view to maximizing the cost of the rescue for Washington and further damaging its financial health,” Peston writes.

Read the entire BBC report HERE.

As we watch the Obama Administration flounder on the world stage – especially in relation to crisis in Ukraine – Glenn warned of the consequences on radio this morning.

“Hank Paulson came out and… verified… Russia tried to collapse the United States in 2008… We had [the story], and it was one of those things we were mocked for. For the Record had it in absolute iron-clad spades,” Glenn said. “So we know that Putin has designs on collapsing the United States of America. That's not Glenn Beck. That's Hank Paulson, our [former] treasury secretary.”

As Glenn explained, this report should come as no surprise to anyone familiar with history. The tactics used by the United States collapse the Soviet Union are the same tactics now being by Russia to collapse the U.S.

“We know [Putin] wants to actively engage in collapsing the United States of America, so what do you do? Well, you spend us into oblivion. Stretch us really thin. This is not a new theory. We know this works because we did it to them. We are so stupid. We don't even recognize our own pattern. This is how we collapsed [the Soviet Union],” Glenn explained. “We worked with anyone who would take them apart anywhere in the world. That's how we did it. And then Ronald Reagan went and just schooled their premiers and just made them look like bumbling idiots on the world stage. And that thing closed down.”

Unfortunately, our current President is more concerned about fighting back against the personal attacks he is facing than looking at how dire the situation actually is.

“So what are they doing to us? What's happening to us right now,” Glenn asked exasperatedly. “And our President is making this into a personal attack. Our President, instead of being a statesman, decided to make it about seven people who don't even have any assets. John Kerry comes on the world stage, ‘You had better do this. Otherwise, there will be real consequences!’ Real consequences against seven people who don't even have assets outside of their general country?”

“That's right, Glenn,” Pat responded with his best John Kerry impersonation. “Who's laughing now?”

“The world,” Glenn concluded.

Learn more about the economic warfare threats the United States faces by watching For The Record: Unrestricted Warfare. TheBlaze TV subscribers can watch the episode on-demand HERE. Not a subscriber? Start your 14-day free trial HERE.

Americans expose Supreme Court’s flag ruling as a failed relic

Anna Moneymaker / Staff | Getty Images

In a nation where the Stars and Stripes symbolize the blood-soaked sacrifices of our heroes, President Trump's executive order to crack down on flag desecration amid violent protests has ignited fierce debate. But in a recent poll, Glenn asked the tough question: Can Trump protect the Flag without TRAMPLING free speech? Glenn asked, and you answered—thousands weighed in on this pressing clash between free speech and sacred symbols.

The results paint a picture of resounding distrust toward institutional leniency. A staggering 85% of respondents support banning the burning of American flags when it incites violence or disturbs the peace, a bold rejection of the chaos we've seen from George Floyd riots to pro-Palestinian torchings. Meanwhile, 90% insist that protections for burning other flags—like Pride or foreign banners—should not be treated the same as Old Glory under the First Amendment, exposing the hypocrisy in equating our nation's emblem with fleeting symbols. And 82% believe the Supreme Court's Texas v. Johnson ruling, shielding flag burning as "symbolic speech," should not stand without revision—can the official story survive such resounding doubt from everyday Americans weary of government inaction?

Your verdict sends a thunderous message: In this divided era, the flag demands defense against those who exploit freedoms to sow disorder, without trampling the liberties it represents. It's a catastrophic failure of the establishment to ignore this groundswell.

Want to make your voice heard? Check out more polls HERE.

Labor Day EXPOSED: The Marxist roots you weren’t told about

JOSEPH PREZIOSO / Contributor | Getty Images

During your time off this holiday, remember the man who started it: Peter J. McGuire, a racist Marxist who co-founded America’s first socialist party.

Labor Day didn’t begin as a noble tribute to American workers. It began as a negotiation with ideological terrorists.

In the late 1800s, factory and mine conditions were brutal. Workers endured 12-to-15-hour days, often seven days a week, in filthy, dangerous environments. Wages were low, injuries went uncompensated, and benefits didn’t exist. Out of desperation, Americans turned to labor unions. Basic protections had to be fought for because none were guaranteed.

Labor Day wasn’t born out of gratitude. It was a political payoff to Marxist radicals who set trains ablaze and threatened national stability.

That era marked a seismic shift — much like today. The Industrial Revolution, like our current digital and political upheaval, left millions behind. And wherever people get left behind, Marxists see an opening.

A revolutionary wedge

This was Marxism’s moment.

Economic suffering created fertile ground for revolutionary agitation. Marxists, socialists, and anarchists stepped in to stoke class resentment. Their goal was to turn the downtrodden into a revolutionary class, tear down the existing system, and redistribute wealth by force.

Among the most influential agitators was Peter J. McGuire, a devout Irish Marxist from New York. In 1874, he co-founded the Social Democratic Workingmens Party of North America, the first Marxist political party in the United States. He was also a vice president of the American Federation of Labor, which would become the most powerful union in America.

McGuire’s mission wasn’t hidden. He wanted to transform the U.S. into a socialist nation through labor unions.

That mission soon found a useful symbol.

In the 1880s, labor leaders in Toronto invited McGuire to attend their annual labor festival. Inspired, he returned to New York and launched a similar parade on Sept. 5 — chosen because it fell halfway between Independence Day and Thanksgiving.

The first parade drew over 30,000 marchers who skipped work to hear speeches about eight-hour workdays and the alleged promise of Marxism. The parade caught on across the country.

Negotiating with radicals

By 1894, Labor Day had been adopted by 30 states. But the federal government had yet to make it a national holiday. A major strike changed everything.

In Pullman, Illinois, home of the Pullman railroad car company, tensions exploded. The economy tanked. George Pullman laid off hundreds of workers and slashed wages for those who remained — yet refused to lower the rent on company-owned homes.

That injustice opened the door for Marxist agitators to mobilize.

Sympathetic railroad workers joined the strike. Riots broke out. Hundreds of railcars were torched. Mail service was disrupted. The nation’s rail system ground to a halt.

President Grover Cleveland — under pressure in a midterm election year — panicked. He sent 12,000 federal troops to Chicago. Two strikers were killed in the resulting clashes.

With the crisis spiraling and Democrats desperate to avoid political fallout, Cleveland struck a deal. Within six days of breaking the strike, Congress rushed through legislation making Labor Day a federal holiday.

It was the first of many concessions Democrats would make to organized labor in exchange for political power.

What we really celebrated

Labor Day wasn’t born out of gratitude. It was a political payoff to Marxist radicals who set trains ablaze and threatened national stability.

Kean Collection / Staff | Getty Images

What we celebrated was a Canadian idea, brought to America by the founder of the American Socialist Party, endorsed by racially exclusionary unions, and made law by a president and Congress eager to save face.

It was the first of many bones thrown by the Democratic Party to union power brokers. And it marked the beginning of a long, costly compromise with ideologues who wanted to dismantle the American way of life — from the inside out.

This article originally appeared on TheBlaze.com.

Durham annex EXPOSES Soros, Pentagon ties to Deep State machine

ullstein bild Dtl. / Contributor | Getty Images

The Durham annex and ODNI report documents expose a vast network of funders and fixers — from Soros’ Open Society Foundations to the Pentagon.

In a column earlier this month, I argued the deep state is no longer deniable, thanks to Director of National Intelligence Tulsi Gabbard. I outlined the structural design of the deep state as revealed by two recent declassifications: Gabbard’s ODNI report and the Durham annex released by Sen. Chuck Grassley (R-Iowa).

These documents expose a transnational apparatus of intelligence agencies, media platforms, think tanks, and NGOs operating as a parallel government.

The deep state is funded by elite donors, shielded by bureaucracies, and perpetuated by operatives who drift between public office and private influence without accountability.

But institutions are only part of the story. This web of influence is made possible by people — and by money. This follow-up to the first piece traces the key operatives and financial networks fueling the deep state’s most consequential manipulations, including the Trump-Russia collusion hoax.

Architects and operatives

At the top of the intelligence pyramid sits John Brennan, President Obama’s CIA director and one of the principal architects of the manipulated 2017 Intelligence Community Assessment. James Clapper, who served as director of national intelligence, signed off on that same ICA and later joined 50 other former officials in concluding the Hunter Biden laptop had “all the classic earmarks of a Russian information operation” ahead of the 2020 election. The timing, once again, served a political objective.

James Comey, then FBI director, presided over Crossfire Hurricane. According to the Durham annex, he also allowed the investigation into Hillary Clinton’s private email server to collapse after it became entangled with “sensitive intelligence” revealing her plan to tie President Donald Trump to Russia.

That plan, as documented in the annex, originated with Hillary Clinton herself and was personally pushed by President Obama. Her campaign, through law firm Perkins Coie, hired Fusion GPS, which commissioned the now-debunked Steele dossier — a document used to justify surveillance warrants on Trump associates.

Several individuals orbiting the Clinton operation have remained influential. Jake Sullivan, who served as President Biden’s national security adviser, was a foreign policy aide to Clinton during her 2016 campaign. He was named in 2021 as a figure involved in circulating the collusion narrative, and his presence in successive Democratic administrations suggests institutional continuity.

Andrew McCabe, then the FBI’s deputy director, approved the use of FISA warrants derived from unverified sources. His connection to the internal “insurance policy” discussion — described in a 2016 text by FBI official Peter Strzok to colleague Lisa Page — underscores the Bureau’s political posture during that election cycle.

The list of political enablers is long but revealing:

Sen. Adam Schiff (D-Calif.), who, as a former representative from California, chaired the House Intelligence Committee at the time and publicly promoted the collusion narrative while having access to intelligence that contradicted it.

Rep. Nancy Pelosi (D-Calif) and Sen. Chuck Schumer (D-N.Y.), both members of the “Gang of Eight” with oversight of intelligence operations, advanced the same narrative despite receiving classified briefings.

Sen. Mark Warner (D-Va.), ranking member of the Senate Intelligence Committee, exchanged encrypted text messages with a Russian lobbyist in efforts to speak with Christopher Steele.

These were not passive recipients of flawed intelligence. They were participants in its amplification.

The funding networks behind the machine

The deep state’s operations are not possible without financing — much of it indirect, routed through a nexus of private foundations, quasi-governmental entities, and federal agencies.

George Soros’ Open Society Foundations appear throughout the Durham annex. In one instance, Open Society Foundations documents were intercepted by foreign intelligence and used to track coordination between NGOs and the Clinton campaign’s anti-Trump strategy.

This system was not designed for transparency but for control.

Soros has also been a principal funder of the Center for American Progress Action Fund, which ran a project during the Trump administration called the Moscow Project, dedicated to promoting the Russia collusion narrative.

The Tides Foundation and Arabella Advisors both specialize in “dark money” donor-advised funds that obscure the source and destination of political funding. The Bill and Melinda Gates Foundation was the biggest donor to the Arabella Advisors by far, which routed $127 million through Arabella’s network in 2020 alone and nearly $500 million in total.

The MacArthur Foundation and Rockefeller Foundation also financed many of the think tanks named in the Durham annex, including the Council on Foreign Relations.

Federal funding pipelines

Parallel to the private networks are government-funded influence operations, often justified under the guise of “democracy promotion” or counter-disinformation initiatives.

USAID directed $270 million to Soros-affiliated organizations for overseas “democracy” programs, a significant portion of which has reverberated back into domestic influence campaigns.

The State Department funds the National Endowment for Democracy, a quasi-governmental organization with a $315 million annual budget and ties to narrative engineering projects.

The Department of Homeland Security underwrote entities involved in online censorship programs targeting American citizens.

Bloomberg / Contributor | Getty Images

The Pentagon, from 2020 to 2024, awarded over $2.4 trillion to private contractors — many with domestic intelligence capabilities. It also directed $1.4 billion to select think tanks since 2019.

According to public records compiled by DataRepublican, these tax-funded flows often support the very actors shaping U.S. political discourse and global perception campaigns.

Not just domestic — but global

What these disclosures confirm is that the deep state is not a theory. It is a documented structure — funded by elite donors, shielded by bureaucracies, and perpetuated by operatives who drift between public office and private influence without accountability.

This system was not designed for transparency but for control. It launders narratives, neutralizes opposition, and overrides democratic will by leveraging the very institutions meant to protect it.

With the Durham annex and the ODNI report, we now see the network's architecture and its actors — names, agencies, funding trails — all laid bare. What remains is the task of dismantling it before its next iteration takes shape.

This article originally appeared on TheBlaze.com.

The truth behind ‘defense’: How America was rebranded for war

PAUL J. RICHARDS / Staff | Getty Images

Donald Trump emphasizes peace through strength, reminding the world that the United States is willing to fight to win. That’s beyond ‘defense.’

President Donald Trump made headlines this week by signaling a rebrand of the Defense Department — restoring its original name, the Department of War.

At first, I was skeptical. “Defense” suggests restraint, a principle I consider vital to U.S. foreign policy. “War” suggests aggression. But for the first 158 years of the republic, that was the honest name: the Department of War.

A Department of War recognizes the truth: The military exists to fight and, if necessary, to win decisively.

The founders never intended a permanent standing army. When conflict came — the Revolution, the War of 1812, the trenches of France, the beaches of Normandy — the nation called men to arms, fought, and then sent them home. Each campaign was temporary, targeted, and necessary.

From ‘war’ to ‘military-industrial complex’

Everything changed in 1947. President Harry Truman — facing the new reality of nuclear weapons, global tension, and two world wars within 20 years — established a full-time military and rebranded the Department of War as the Department of Defense. Americans resisted; we had never wanted a permanent army. But Truman convinced the country it was necessary.

Was the name change an early form of political correctness? A way to soften America’s image as a global aggressor? Or was it simply practical? Regardless, the move created a permanent, professional military. But it also set the stage for something Truman’s successor, President Dwight “Ike” Eisenhower, famously warned about: the military-industrial complex.

Ike, the five-star general who commanded Allied forces in World War II and stormed Normandy, delivered a harrowing warning during his farewell address: The military-industrial complex would grow powerful. Left unchecked, it could influence policy and push the nation toward unnecessary wars.

And that’s exactly what happened. The Department of Defense, with its full-time and permanent army, began spending like there was no tomorrow. Weapons were developed, deployed, and sometimes used simply to justify their existence.

Peace through strength

When Donald Trump said this week, “I don’t want to be defense only. We want defense, but we want offense too,” some people freaked out. They called him a warmonger. He isn’t. Trump is channeling a principle older than him: peace through strength. Ronald Reagan preached it; Trump is taking it a step further.

Just this week, Trump also suggested limiting nuclear missiles — hardly the considerations of a warmonger — echoing Reagan, who wanted to remove missiles from silos while keeping them deployable on planes.

The seemingly contradictory move of Trump calling for a Department of War sends a clear message: He wants Americans to recognize that our military exists not just for defense, but to project power when necessary.

Trump has pointed to something critically important: The best way to prevent war is to have a leader who knows exactly who he is and what he will do. Trump signals strength, deterrence, and resolve. You want to negotiate? Great. You don’t? Then we’ll finish the fight decisively.

That’s why the world listens to us. That’s why nations come to the table — not because Trump is reckless, but because he means what he says and says what he means. Peace under weakness invites aggression. Peace under strength commands respect.

Trump is the most anti-war president we’ve had since Jimmy Carter. But unlike Carter, Trump isn’t weak. Carter’s indecision emboldened enemies and made the world less safe. Trump’s strength makes the country stronger. He believes in peace as much as any president. But he knows peace requires readiness for war.

Names matter

When we think of “defense,” we imagine cybersecurity, spy programs, and missile shields. But when we think of “war,” we recall its harsh reality: death, destruction, and national survival. Trump is reminding us what the Department of Defense is really for: war. Not nation-building, not diplomacy disguised as military action, not endless training missions. War — full stop.

Chip Somodevilla / Staff | Getty Images

Names matter. Words matter. They shape identity and character. A Department of Defense implies passivity, a posture of reaction. A Department of War recognizes the truth: The military exists to fight and, if necessary, to win decisively.

So yes, I’ve changed my mind. I’m for the rebranding to the Department of War. It shows strength to the world. It reminds Americans, internally and externally, of the reality we face. The Department of Defense can no longer be a euphemism. Our military exists for war — not without deterrence, but not without strength either. And we need to stop deluding ourselves.

This article originally appeared on TheBlaze.com.