Scary: Fed announced “open-ended” QE3

Barack Obama has promised the country that he’s pulling the economy out of the ditch - but if that’s the case, why does the Fed need to keep bailing America out? The latest bailout came today when the Fed announced they would do QE3. The really scary part is there was no set amount. Instead it was left ‘open ended’ to spend in perpetuity.

In a statement, The Federal Reserve revealed it will spend $40 billion a month to buy mortgage-backed securities for as long as it deems necessary to stimulate the economy and reduce high unemployment.

The Fed added, "If the outlook for the labor market does not improve substantially, the committee will continue its purchases of agency mortgage-backed securities, undertake additional asset purchases and employ its other policy tools as appropriate until such improvement is achieved in a context of price stability."

TheBlaze explained:

The statement was approved on an 11-1 vote. The lone dissenter was Richmond Fed President Jeffrey Lacker, who worries about igniting inflation.

The Dow Jones industrial average was up 15 points for the day just before the announcement at 12:30 p.m. Eastern time. It had surged 105 points within minutes of the announcement, then gave up some gains to be just 35 points higher.

The dollar dropped against major currencies, and the price of gold shot up about $16 an ounce, roughly 1 percent, to $1,750.

Because Glenn was on radio before the announcement of QE3 was made, he has not yet had a chance to respond. However, he did warn that people need to have cash on hand and pay close attention to what is happening with the Fed and the economy.

"May I make one more recommendation.  Have cash on hand, please.  Please have cash on hand.  We have recommended this for a while.  Please have cash on hand.  I just saw an amazing stat.  Right now 8.2 or 8.7% of the American population has pulled their money out of banks.  They say I'll cash my check at check cashing places, I will keep my own cash, I'm closing my checking and savings.  Almost 10% of the U.S. population is now bankless because they don't trust the banks.  That's significant.  Especially when you see what's going to happen with Bernanke today.  Hopefully Bernanke says he's not going to print more, but the dollar is already losing value this morning.  Warning," Glenn said.

Presidential candidate Sen. Bernie Sanders (I-Vt.) may say he's all about advocating for the common good, but during his more than 30 years in "public service," the socialist senator has been more adept at promoting his own bottom line.

Investigative journalist and best-selling author, Peter Schweizer, joined Glenn Beck in the studio Friday to discuss his new book, "Profiles in Corruption: Abuse of Power by America's Political Elite," and to break downs how Sanders has become the very model of the corrupt socialist leader who becomes wealthy at the expense of the citizens they are elected to serve.

"It's a major problem for Bernie Sanders," Schweizer said. "He's turned socialism into a profession that has generated a lot of money to his family."

"Isn't that what always happens?" Glenn asked. "I mean, everybody in charge of a socialist country, they walk away with billions, in some cases, and the people are left starving."

"Yes, that's exactly right," agreed Schweizer. "It is a racket for Bernie Sanders. And the sort of austere image that he presents —kind of the John the Baptist of the progressive movement — it's simply not true."

Watch the video below for more details:


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By now you've probably heard all about former Vice President Joe Biden's alleged corruption in Ukraine with his son, Hunter, and the Ukrainian energy company, Burisma. But as it turns out, the Biden family's dubious dealings weren't limited to Ukraine, but extended to China as well.

In this clip, Glenn Beck explains Hunter Biden's four primary "problems" in China, including partnering with criminals, working with Chinese companies accused of stealing and spying on the U.S. military, as well as some very sketchy investments.

Watch the video below for more details:

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Bill O'Reilly joined the "Glenn Beck Radio Program" on Friday for his weekly take on the 2020 presidential race.

O'Reilly emphasized what a dangerous candidate socialist Sen. Bernie Sanders (I-Vt.) really is, and how the media is working to mislead voters by depicting other Democratic candidates, such as former South Bend, Indiana, Mayor Pete Buttigieg, as "moderate."

"The Democratic Party has been hijacked -- and this is no breaking news -- by the progressive left. Which is now being enabled by the national media," said O'Reilly.

"Bernie Sanders is a dangerous man. In any sane time, media time, that would be clear to everybody. But it's not," he added. "It's like, 'Oh, there's uncle Bernie and he just wants to give stuff away. What a great guy.' [He's] not a great guy, all right? He's a totalitarian. He'll take your freedom, in every area, away. Every area. There isn't one area, that Bernie Sanders wouldn't intrude upon, in your personal freedom. Yet, that's not reported. You don't know it unless you pay attention. It's all a bunch of dishonest blather that has obliterated the so-called moderate Democrat. And there are millions of those people. They don't know what to do because they have no voice in the media."

Glenn pointed out that the media has been "trying to make Pete Buttigieg into a moderate" ever since his strong showing in the Iowa caucuses last week.

"So, Pete Buttigieg: Harvard grad. Rhodes Scholar. Brilliant man, he is brilliant. Great speaker. Almost as good as Beck and I. Not quite, but almost," O'Reilly said. "He's only 38, all right? So, the guy goes out and runs for president after being the mayor of South Bend, Indiana, for eight years, and almost destroying that city. The city is in chaos, yet he's re-elected with 80% of the vote the second time. That's what a good BS'er Pete Buttigieg is.

The two went on to break down Buttegieg's radical policy plans on immigration, abortion, gun control, and more.

Watch the video below to catch more of the conversation:

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On the radio program Thursday, Glenn Beck and his chief researcher, Jason Buttrill, have uncovered new evidence that suggests the coronavirus death toll numbers coming from China are grossly inaccurate.

After vetting several deep-fake videos circulating on social media, Jason unearthed shocking whistleblower-videos released by citizens of the communist state that show entire warehouses filled with body bags, along with other atrocities.

Jason and Glenn break down the real numbers and discuss the possibilities of the outbreak coming to America. Watch the video below for more details:

Don't miss next Wednesday's TV special on the coronavirus in its new time slot at 9PM ET.

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To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream. Use code GLENN to save $10 on one year of BlazeTV.