Cyprus reaches ‘deal’, set to confiscate money from private bank accounts

Well, after over a week of trying to figure out how much money to take of of the bank accounts of private citizens in Cyprus, a deal has finally been reached. Depositors with over $100,000 are seeing their accounts frozen as Cyprus plans to use a percentage of their funds to help pay for a bailout. Glenn reacted to the news on radio this morning. 

Reuters explained the latest on the Cyprus bailout:

Backed by euro zone finance ministers, the bailout plan will spare the Mediterranean island a financial catastrophe by winding down the largely state-owned Popular Bank of Cyprus, also known as Laiki, and shifting deposits under 100,000 euros to the Bank of Cyprus to create a "good bank", leaving problems behind in, effectively, a "bad bank".

Deposits above 100,000 euros in both banks, which are not guaranteed by the state under EU law, will be frozen and used to resolve Laiki's debts and recapitalize the Bank of Cyprus, the island's biggest, through a deposit/equity conversion.

Many analysts fear that Cyprus was not a unique case and that depositors with uninsured bank accounts in other indebted countries could see a "haircut" applied to in future bailouts.

Bill Gross, who runs the Pacific Investment Management Co. in ,California, tweeted “Cyprus haircuts prove just 1 thing: without growth, highly indebted EU countries will eventually suffer a similar fate.”

"Here's what's kills me - nobody sees the gulf that they are making.  Anybody under $100,000 they're leaving alone. Well I got news for you,  In the grand scheme of things, those who have $25,000 in the bank, at the end of their life they have $25,000 in the bank, those are the ones that need the government at the end of their life.  They're going to need the government because they didn't save or whatever.  So they have that much money in the bank.  And then there's this giant gulf between them and they're destroying all the wealth between those guys and everybody else up to like the Soroses and Bloombergs."

"You are re-creating Europe. Overnight we are re-creating it. We are making serfs and lords. That's it. There's nobody on the road in between," Glenn said

Glenn encouraged listeners to find small, local banks that won't be engaged in the practices that led to the "haircut" penalty in Cyprus.

POLL: Should Universities allow pro-Hamas protests?

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Just one day after Hamas’s surprise attack on Israel, which left over 1,400 people Israelis dead, 34 different student groups from Harvard University wrote a joint statement pinning the blame of Hamas' terrorist attack on Israel. In the following days after publishing this callous statement, these students staged a walkout and rallied in support of the Palestinians. As Glenn has discussed, this is not an isolated event, and campuses across the country have hosted similar rallies where antisemitic jargon like "we don't want no Jew state" and "globalize the intifada" is freely spewed.

Should Universities allow pro-Hamas protests?

While the Universities have not officially backed any of these rallies or student groups that organized them, they haven't stopped them either, which raises the question: should they? On one hand, these are American students in American Universities, who are protected by the First Amendment. On the other hand, history tells us how dangerous antisemitism is if left unchecked; and what of the rights of Jewish students to be safe on the campuses they pay to attend? Let us know what you think in the poll below:

Should Universities allow pro-Hamas protests? 

Would you feel safe if your child attended a University that allowed pro-Hamas protests?

 Should Universities allow pro-Israel protests?

Is pro-Hamas rhetoric protected by the First Amendment?

POLL: What do YOU think Israel should do about Gaza?

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Should Israel take over Gaza after defeating Hamas? This contentious historical question has resurfaced amid Israel's retaliatory airstrikes in Gaza following Hamas' terror attacks, which resulted in the greatest death of Jews since the Holocaust. Biden and the global elites have warned Israel against occupation of the Palestinian territory. When asked on 60 Minutes if he would support the Israeli occupation of Gaza, Biden said, “I think it would be a big mistake.” Today Glenn responded to Biden’s answer: “I don't think it's a mistake to occupy."

This has been a long-standing, polarizing issue that is now more relevant than ever, and we want to hear YOUR thoughts. Let us know in the poll below:

Would you support an Israeli occupation of Gaza?

Do you think the Israeli airstrikes in Gaza are justified?

Do you think a two-state solution is still possible?

Funding IRAN?! Here are the TOP 5 reasons Joe Biden should be IMPEACHED

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On September 12th, the House announced an official impeachment inquiry into Joe Biden with allegations of abuse of power, obstruction, and corruption. Naturally, the media quickly jumped to the President’s aid claiming that “there is no evidence to support these claims” and that the whole affair is a witch hunt.

If you’ve been listening to Glenn, you know that this is simply not the case. Biden has been committing impeachment-worthy deeds before he even stepped foot into the Oval Office—there’s no shortage of evidence to justify this inquiry. Here are 5 scathing reasons why Biden should be impeached:

He was responsible for the Afghanistan withdrawal disaster.

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The Biden administration began with the US's disastrous withdrawal from Afghanistan. Under his watch, Biden left thousands of US citizens and allies stranded in the Taliban's hostile regime. Countless Afghan allies have been murdered by the Taliban due to the Biden administration's negligence.

He was involved with Hunter Biden's illicit foreign business dealings.

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There is clear evidence that Joe Biden was more than aware of his son Hunter's foreign business dealings. From suspicious money laundering through the Biden family's accounts to Joe's involvement with important business meetings within Hunter's company, there is mounting evidence to warrant an impeachment inquiry.

He lied about his involvement with Hunter's business dealings.

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Not only did Biden involve himself with his son's less-than-legal foreign business ventures, but he lied to the American people about it too, claiming he had NO KNOWLEDGE of what was going on.

He failed to protect the Southern border, and actively made it worse.

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Biden singlehandedly turned the Southern border into the worst illegal immigration crisis in US history. He reversed many policies set in place by the Trump administration, resulting in 2.3 million illegal immigrants flooding into the US under his watch, a historic high.

He sent IRAN AND HAMAS BILLIONS OF DOLLARS.

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Biden reversed the Trump-era policy that halted all funds going into Iran. The Wall Street Journal revealed the smoking-gun evidence proving that Iran trained AND funded Hamas before its gruesome terror attacks against Israel. Moreover, shortly before the attacks, the Biden administration unfroze $6 BILLION dollars of Iran's assets as a part of a prisoner swap. On top of this, Biden resumed $200 million worth of "humanitarian aid" to Gaza that Trump had ended—because the money was being used to buy weapons for Hamas.

Top 5 economic milestones that show HOW BAD Bidenomics has made the economy

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From groceries to house prices, everything seems to get more expensive, and you can thank Biden for that. Glenn recently exposed the truth about 'Bidenomics' and the havoc it has wrought on the American economy. Here are five economic milestones during the Biden administration that expose the glaring track record of "Bidenomics:"

In July 2022, the inflation rate hit 9.1 percent, a 40-year record high.

In June 2022, gas hit an all time record high of $5 a gallon for the national average.

61 percent of Americans are living paycheck to paycheck as of this September.

Interest rates reached a 15-year high at 5.25 percent and are still increasing.

Americans have $1 trillion in collective credit card debt, in part due to food/staple pieces being very high.