Santorum calls in ... to yell at Glenn?

Ok perhaps it wasn’t yelling, but Santorum did call in after hearing Glenn comment on the latest in the Santorm campaign saga which Drudge referred to as ‘Santorum snaps’. Was it an angry rant? Was it a controversial remark? Or one he’s made many times over? Check out the impromptu call in in the clip above.

Rush Transcript of interview below:

GLENN: The headline on Drudge is Santorum Snaps. I thought he sounded sleepy

PAT: Yeah. He didn't sound ‑‑ yeah

GLENN: Santorum snaps. Obama preferable to Romney. Rick Santorum is with us now. Hello, Rick.

SANTORUM: Good morning.

GLENN: How are you, sir?

SANTORUM: I'm doing great. I'm ready for Louisiana.

GLENN: Have you come down off of your tantrum apparently that ‑‑

SANTORUM: There was no tantrum there. All I was saying was what I've been saying a hundred times. If we have a choice between Twiddle Dumb and Twiddle Dee that the American public is not going to support out nominee. We need a stark contrast. That's all I was saying. I've said repeatedly, as you've heard me said on this program, I would vote for Rick for Republican, I would vote for Ron Paul, I would whoever the Republican nominee is. The point is whether voters will vote for someone who doesn't have a clear contrasting vision for this country.

PAT: Yes.

SANTORUM: And that's the point I was making in that speech. I've made it in every speech I've been given and I'll continue to make that point and governor ‑‑ you know, it's funny. I didn't get one question on that afterward.

GLENN: But hang on. It's not just ‑‑ it's not just the Republican thing. It is ‑‑ there is a difference between ‑‑ I mean, Mitt Romney has ‑‑ is not now and never has been a member of the communist party. (Laughter.)

SANTORUM: Okay. You're right.

PAT: Okay.

SANTORUM: All right. Sorry. Look. What I'm talking about are the big issues of the day which is, you now, Obamacare, cap and trade, the bailouts, government control of people's lives and this is a guy who, you know, who, in my opinion, and if you saw this ‑‑ it was his Etch‑A‑Sketch comment. He'll say whatever he needs to say in front of whatever group he needs to say it in front of to win the election and that's not going to win this election. I mean, you know, pandering to voters and saying what people want to hear is not going to win. What people want is someone they can trust, someone who knows that, you know, that they want to, as I said the other night, tear Washington bureaucracy out by its roots and do some big changes in Washington and that's the kind of contrasting vision we need and that's not what we're getting in the Romney campaign. We get this parsing position that we see on all these positions.

GLENN: Now, let me take this a piece at a time. First of all, on the Etch‑A‑Sketch thing, we're split here in the studio. I think that Romney strikes me as an Etch‑A‑Sketch guy. I mean, I have ‑‑ let me just give you the quote here from Romney. You know, he came out Monday and said, you know, this gas hike trio, the three that are on a mission to drive up the price of gas, lean on energy so they can finally get their solar and their wind and more price competitive, that's what they want to do and then he claimed that people are trying to drive up the price of energy which is absolutely accurate. However ‑‑

SANTORUM: Yeah

GLENN: He said in 2006, I don't think now is the time and I'm not sure there's going to be a right time for us to encourage the use of more gasoline. I'm very much in favor of people recognizing that high gas prices just probably here to stay. So, if that's not Etch‑A‑Sketch, how do I know what he really believes?

SANTORUM: That's the point I was trying to make and I probably didn't say it as articulately as I needed to say it, but I've been saying it repeated ed, that we need someone who you can trust, someone who provides a contrast, not someone who is just ‑‑ I would make the argument he is better on some issues about Barack Obama. There's no question about it but on the big issues of the day, you know, of government, you know, control and crushing our economy and our energy, he has just been wrong so much that it makes ‑‑ it makes it ‑‑ it makes it a hard ‑‑ much harder election than it needs to be.

GLENN: Okay. Let me ask you this: Jim DeMint came out yesterday and said he's excited, excited about the idea of Romney being the candidate

PAT: He's the first person ‑‑ he's the first American known who have said excited and Mitt Romney in the same sentence. That's the first time that's happened in a country of over 300 million people and now we're putting him in the Guinness Book of World Records and ‑‑

GLENN: And that's a pretty big piece. He's ‑‑ I mean, here's a guy who the Tea Party ‑‑ I mean, what happened there?

SANTORUM: Yeah. Was he excited when Mitt Romney went down to Puerto Rico after I said that Puerto Ricans have to learn English in order to be a member of the ‑‑ be admitted to statehood, since only 15% of Puerto Ricans speak English and Mitt Romney who believes that English should be the official language of our country and is against bilingual education went to Puerto Rico and in order to get 20 delegates said he would admit Puerto Rico into the union even if nobody spoke English?

PAT: Wow.

SANTORUM: This is the problem. That's what he said. He said, no, there's no English language for the people of Puerto Rico in order for him to support statehood. Now, how can you ‑‑

PAT: That got very little coverage. That got very little coverage.

GLENN: It will get coverage.

SANTORUM: It got huge coverage in Puerto Rico and the reason he got 80% of the vote is I stood up and said what was the truth which is there's no way that any state is going to be admitted to the union if people don't speak the language of the country and that's not that they don't ‑‑ they can't speak another language but they've got to be able to speak English.

GLENN: Yeah, but you had your shirt off by a pool.

SANTORUM: Wait a minute. (Laughter.)

GLENN: Okay.

SANTORUM: 15 minutes I laid on that. 15 minutes.

PAT: You can't do that.

GLENN: Can I tell you something? I saw that photo ‑‑ I saw that photo because, honestly, I went to ‑‑ for Christmas I went to Hawaii with my family. I did not go ‑‑ we stayed right at a hotel right there at the beach and I did not go to the beach without my shirt on ever because I knew ‑‑

STU: The people there thank you for that, by the way.

GLENN: No, no, no. I know what I look like without a shirt on and I saw that picture of you ‑‑ I saw that picture of you and I thought, oh, that's unfortunate. That's just ‑‑

SANTORUM: Yeah, it was.

PAT: It wasn't that bad.

SANTORUM: I'm worried about the gastric distress I might have caused people with that photo.

GLENN: All right. So, let me share something with you that I haven't even shared with the guys here. In the last three weeks, a very, very prominent person approached me, mainly because he certainly doesn't know me if he approached me with this and he said, Glenn, you could be the guy that could be the turning point in this election and you could really help, you know, pick the next President if you could just convince Rick Santorum to drop out because you and I know it's time for him to drop out and just convince him to drop out and I said, A, I think you're ‑‑ I think you're overestimating my Jedi mind trick and, also, I believe in divine providence. Right. I believe in divine providence. I believe that if it's supposed to happen and we're living our lives the way we're supposed to, it will happen, but convince the average person that, you know ‑‑ and don't bring in Newt Gingrich because I love the way nobody's saying this about Newt Gingrich. Just you. Convince the people that this is the right thing to do, for you to stay in and not start to unify the country behind one candidate.

SANTORUM: The best thing we can do right now is to nominate a conservative against Barack Obama. That's what we need to do. That's the best chance for us to win the election, No. 1. No. 2, the ‑‑

GLENN: Wait, wait. Explain that for anybody ‑‑ hang on just a second. Explain that again why you say that for anybody who just doesn't understand that.

SANTORUM: Well, one time in the last 100 years a Republican has defeated a Democratic incumbent, once, and most of the time when we've run against Democratic incumbents, we tried to run moderates because we had to win and, of course, we've only one won once, Ronald Reagan, when we provided that clear contrast and that's what we need in this election. You can't win this election unless you get your base and the people of our party, like in 2010, excited about who the nominee is and that the people who are in the middle, if you will, are ‑‑ can share that excitement and like the person they're voting for and relative to the person they're voting for. That's what happened with Reagan. He had a clear vision. He had someone who was out there who was ‑‑ they had trust in, that they could relate to and that's, you know ‑‑ unfortunately, you know, you look at Governor Romney and he's having troubles on all those fronts and Governor Romney ‑‑

GLENN: Excuse me. I have a lot of ‑‑

SANTORUM: Because he's overwhelmingly spending whoever he's running against. That's not going to happen in the general election

GLENN: You know, you can't say you can't relate to him. I'll have you know I have many friends who have $50 million houses who enjoy him he very much. (Laughter.) I have friends who own cars and car dealership and car companies and race teams that relate to him a great deal.

STU: It's one of those things where I feel like these cries of unify feel to me ‑‑ and let me know if you agree with this, Rick. Does it feel to you the same way as right now we're saying unify but it's unify around one. In 2008 the country said change but change to what? You can't just rally around the verb. You've got to ‑‑

PAT: And forget that the election in 2008 between Hillary Clinton and Barack Obama went down to, what, June?

GLENN: June.

PAT: It was June and nasty and they were tearing each other up and they won

GLENN: And they were saying the same thing.

PAT: And they won and they were saying the exact same thing. So, tell people to shut up.

GLENN: The Drudge will report that as him snapping.

SANTORUM: We have to realize the shorter the race is, the better it is for the Republican party. Why? Because Obama's going to have the media and a huge money advantage and he will not be able to unleash that money advantage or the media on the nominee unless ‑‑ until we have a nominee and once we ‑‑ once a nominee is, quote, decided and if it's decided early, then Barack Obama has literally hundreds of millions of dollars he can start just pounding away at the Republican candidate and that Republican candidate is going to be shooting back with a pea shooter. We wait until the fall to have a nominee and we'll have all of our forces and all of their forces. Yeah, they'll be able to outspend us, but will be diminishing returns after awhile. There will be so much money concentrated in such a short period of time, in a sense, their money advantage is negated, their media advantage is negated. We want this election. We want this election to be short. We want it to be two months. We want it to be focused instead of a drawn out process where they can just destroy the Republican nominee over the course of the next five months.

STU: But, really, do you think you can do better than Joe Biden as a VP if you were to win?

SANTORUM: You know, I seem to do worse.

GLENN: (Laughter.)

PAT: No. I don't think he can.

GLENN: I wanted to really put some thought into that, but, no, I don't think you can. Thank you very much, Rick. Best of luck to you this weekend.

SANTORUM: Yes.

PAT: Going to win Louisiana tomorrow.

STU: Yeah.

PAT: Yeah. You could help him do that by going to RickSantorum.com.

STU: Do you have to end every interview by giving his website?

GLENN: This is the worst. This is the worst.

PAT: Somebody has to. He didn't do it. So ‑‑

STU: It's true. He's not shilling for himself enough apparently

GLENN: It really bothered me when this individual came to me and said, you know, you do that. Isn't that the kind of stuff that we hate? Isn't that the kind of stuff that is bad, the back room deals?

STU: It does happen. Everybody knows that, but I feel like, A, it's someone who doesn't know you well enough to know that you would never do that and it also is someone who doesn't know Rick Santorum well enough because he's not going to listen to you or anybody else

GLENN: No.

STU: He's going to stay in the race as long as he feels like it's the right thing to do

GLENN: That's one reason I like him, because he did go down to court Puerto Rico and he did say that because it's consistent, that's what he believes, and so he said it. Even though it cost him the race, that's what he did.

STU: Yeah. You know, this is what sucks about primaries, because I like Mitt Romney. He seems like a nice guy. I think he's really smart. I think he does a lot of good thing. I like Rick Santorum. It's like everyone just gets in these fights where it's just constant everyone going back and forth.

GLENN: We're really not enemies.

STU: Not at all

GLENN: Although I think we've created some which is not necessarily ‑‑ but you know what? Rick can't be the President because we like him and there's just no way that we could have a President that actually likes us.

PAT: Now we're setting a new precedent here. This is a brand new precedent we're sitting

GLENN: We were at the airport yesterday and we were talking about the race and I just looked and Pat said, Romney will hate us by the time he would get into office. So, you know he's got to be the guy. He's just going to hate us with by that time.

Glenn created "The Senate Fails to Condemn INFANTICIDE" in response to the Senate not passing Nebraska Senator Ben Sasses' bill banning infanticide early this year. In an effort to help support pro-life charities, Glenn first posted this for sale on eBay before being banned multiple times before we finally had enough and put it up for sale on bidpal.net.

At the time of this post, the bid was up to $4,700 — but we can do better than that. Please help us raise money for a good cause, you don't even have to display it anywhere in your home, you can just keep it in storage or something! If you want this priceless piece created by one of the most influential people in the world of art, place your bids here.

Can you remember the economic crisis of 2008 and how you felt when the news broke that Lehman Brothers had collapsed? I have found an economic threat that everyone needs to be aware of, so you can prepare yourself in case we see another 2008 type collapse. I am going to present the evidence to you and I urge you to verify everything and to form your own opinion.

What is that threat?

It is a bank called Deutsche Bank. They are by far the most dominant bank in Germany which is the world's fourth-largest economy. In 2018 they had €2.08 Trillion worth of assets and the second-placed bank (DZ Bank) had €506 Billion worth of assets. To show you how dominant this bank is, they have more assets than the 2nd, 3rd, 4th, 5th and 6th sized banks combined.
When we review a business there are three key parts to analysis:

  • Market sentiment
  • Business numbers
  • Technical Analysis

Market Sentiment

Deutsche Bank has a long history of potential scandals including going all the way back to World War 2 and dealing in Nazi gold. Below are five recent stories which have increased the negative sentiment around Deutsche Bank.

  1. In 2007, they purchased a portfolio of loans worth $7.8 billion and purchased insurance from Warren Buffets Company. It was discovered they did not set aside enough capital to cover any potential losses. Over the course of the ten years, they lost $1.6 billion, and when they sold the loan they did not update their financial statements to include the big loss
  2. The Panama Papers are an ongoing investigation looking for many things including offshore tax havens. These investigations have resulted in several heads of state resigning including in Iceland and Pakistan. Last November, 170 police raided 6 different offices in Frankfurt looking for evidence of money laundering.
  3. Estonia is a small country in Eastern Europe. It has a population of 1.3 million people and a GDP of €26 billion. In January, it was discovered Deutsche Bank got involved with a Danish bank called Danke Bank and processed over $230 billion worth of cross country payments (including from Soviet Russia) through one bank in Estonia.
  4. There have been rumors of issues with Deutsche for a while now and one of the solutions put forth was a merger with a bank called CommerzBank. The leaders of both companies met and they even got support from politicians. In April, news broke that the merger talks had failed because over worries the risks and costs would be too great.
  5. Last week in France, Investment banking boss Garth Ritchie and others were arrested in France over illicit tax transactions.

Business Numbers

Deutsche Bank is already struggling as they are losing staff, losing market share, and bonuses are expected to be down at least 10% and further rounds of cost-cutting to come. Now imagine the impact if business costs start going up.

The banking industry works in a very simple way. They raise funds through large bonds at low-interest rates and then sell those funds to business and individuals thru products like loans and credit cards at a higher interest rate which results in a potential profit.

Earlier this year, Deutsche Bank tried raising money through several bonds. They paid 180bp (basis points) on a two-year bond and 230bp on a seven-year bond. Let me put this in context for you. There is a small bank in Spain called Caixabank which paid 225bp on a five-year bond and one of the larger banks in Spain, BBVA paid 130bp on a five-year bond.

  • How and why is a small bank in Spain getting a better deal on bonds than a huge bank in Germany?
  • Why is a large bank in Spain getting a bond 100bp cheaper than a German bank?
  • What does the market know that we do not?

Stock Price

Deutsche is also missing revenue projections which further hurt the business ability to survive and prosper. As you can imagine all of this news has a deep and lasting impact on its stock price which is in deep trouble. Before I share the stock price, I need to put this into the context of the market and the industry compared to the big economic crash of 2008. Below you will see a chart of some banking stocks from around the world with their peak price prior to the 2008 crash, the low of the 2008 recession and the price today:

As you can see from the above chart the banks in America have recovered from the 2008 recession by anywhere up 375% and JP Morgan has not only recovered its price in full but is constantly setting new high's. Ireland went bankrupt and had to be bailed out by the EU/IMF following the 2008 crash and even our national bank has more than doubled its price since 2008. The worst performing bank I could find was Societe Generale which has issues but is still hovering around its 2008 low price levels.

Now let's put that into the context of Deutsche Bank. Not only has the stock not rebounded but it is over 65% below its 2008 low at $6.75.

Technical Analysis

When you are dealing with the stock market, you also have people who study pricing through technical analysis. Experts look at things like FIB sequences, trend lines, and support levels. Support levels are a key metric for a stock failing because are looking to find where it will find support and potentially bounce higher.

We are very close to a key support level ($6.40) and if the price goes below this level, there is no saying exactly how low the price could go. At least one company expects Deutsche to fall below this support level, as several weeks ago UBS downgraded the stock to a sell order. This news was compounded last Friday when rating agency Fitch, downgraded their credit rating to BBB or two levels above JUNK status.

Other Information

I know you are likely reading this and thinking "this bank must have smart people in charge and surely they have a plan, right?" I am sure there is a plan and while they have kept their cards close to their chest, they have spoken in the past about the areas they foresee having growth for the company – they include business in Saudi Arabia, UAE, and Egypt. Do they strike you as countries which are stable and will offer steady and reliable growth? Do you have to think really hard to imagine how this could go potentially very wrong?

Questions

I believe there is at least a solid case Deutsche is in a LOT of trouble. So what are possible scenarios for the future? I will lay out the key questions below but I must stress that it's impossible to say for sure what exactly will happen. One of the key numbers to remember here is they have roughly €50 billion worth of derivatives.

  • How likely is it that the bank can turn things around and survive?
  • How likely is it the bank continues to run into trouble, its stock price fails and eventually fails?
  • If you think it is likely it will fail, the question becomes what will the fallout be? Who will be affected?
  • Will they be bailed out?
  • If so, by whom? The German government, ECB, IMF, the Federal Reserve?
  • What will the German government think? Some members recently spoke out saying they would block public money for the proposed merger? Will they block funds if it failed?
  • Will other banks be exposed and affected? Will they have to take losses?
  • Will those losses be spread around or will one or more bank be mainly affect?
  • Will this affect the sentiment of the banking sector and cause a panic?
  • If there are issues and it starts affecting the stock prices, what will be the impact on other industries?

Last Question

The last question revolves solely around the banks and the regulators? How secure are the other banks? We all hear about how banks are now put through "stress tests" but how much trust do you put in those results? How much trust do you have in the regulators?

I know this may make me sound like a conspiracy theorist to some but it's an honest question. The Fed is on public record saying they want to keep this economy strong as long as possible. If a bank did not perform strongly in a stress test or even barely failed one, do you think they would report it?

Can you imagine the pressure that body would come under to stay silent? Can you imagine the rhetoric they would face with questions like, "Are you really going to fail one bank? Do you know how many people will lose their jobs if you do that?" Am I saying this is happening? No, but can you really rule it out 100% as a possibility?

I urge you to ponder on these questions, do your own research and find YOUR answers.

Update: The most freaquently asked question I have received from this column / show is how much time do we have to prepare. This is an impossible question to answer, as it could fail tomorrow, next week or might be next year. However I want to provide you a potential date for your diary – July 24th. That is when Deutsche will release their next earnings report and if it comes in below expectations, it could cause a further drop in price casting more doubt over the future viability of the bank.

Please support Jonathon's weekly podcast which is exclusive to the Blaze Media and available for FREE. He offers a unique perspective by promoting America's Founding Principles and brings every issue back to a set of core principles which are always based around the laws of nature. You can find links to his show by clicking here or by searching for Freedoms Disciple on your favorite audio platform.

Survey: Where do you stand on these conspiracy theories?

Thought Catalog / Unsplash

Have you seen this survey on the most-believed conspiracy theories in America?

It's no surprise the survey has been getting so much attention. The results are actually a pretty disturbing.

Infographic: Belief in Conspiracy Theories in the United States | Statista

I decided to put together a quick survey of my own, with slightly different wording.

Up-vote the ones you agree with and down-vote the ones you disagree with.

I believe Lee Harvey Oswald killed JFK alone. However, I would not be surprised to find out the government sealed evidence that others were involved.

If by "deep state" you mean long-time Washington power brokers who are used to calling the shots and now feel threatened by Donald Trump not listening to their advice or council — yes, I do believe that many people like that are working against him and his administration.

Whether alien bodies are in Area 51 or not, I do believe the government knows more about UFOs than they have told us.

I do not believe the U.S. government was involved in 9/11, but as we know, NSA advisor Sandy Berger was caught destroying documents from the national archives related to both Bush and Clinton. All U.S. administrations have been to close to the Saudis, and the Saudis were involved in 9/11 at some level.

I believe the climate is always changing — it's natural. I would be willing to accept that man MAY play a role in this. But I do not believe in the solutions currently being discussed, nor do I believe the intention of most political activists are pure.

Any talk of the Illuminati provides the true dangers to man's freedom — like very powerful NGOS and men like George Soros — a perfect cover.

The U.S. government has done some horrible experiments on people and land — I also suspect they will do more things in the future. But I do not believe in the systematic spraying of chemicals using chemtrails.

The moon landing was real, but I see a time coming when people will not be able to trust their eyes due to deep fakes.

What do you think?

Let me know in the comments section below.