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.

This MUST be why Trump (allegedly) had NUCLEAR documents at Mar-a-Lago

Photo by (Left) Win McNamee/ (Right) Bettmann /Contributor/Getty Images

According to the Washington Post's "anonymous sources," the FBI was looking for documents related to nuclear weapons during its raid of Mar-a-Lago.

Who could have guessed what Donald Trump did with those documents (never mind that he allegedly had them for over a year before the FBI actually did anything)? And who knows why they were searching through Melania's drawers for such top-secret information? Also, isn't it interesting that even after both Attorney General Merrick Garland and Donald Trump asked for the search warrant to be unsealed, only this very unspecific and very damning bit of information was "leaked" to the Washington Post? And just a few months before the midterm elections?

Since the DOJ still hasn't told us much (what was leaked to the media), Glenn did his best to present a few "theories" of his own on "The Glenn Beck Program" Friday. Watch the video clip below to hear more from "The Glenn Beck Program." Can't watch? Download the podcast here.

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New details emerge about Trump raid — and 'it doesn't look good for the FBI'

Photo by Eva Marie Uzcategui/Getty Images

New, alleged details about the raid of former President Donald Trump's home at Mar-a-Lago hint that it's "not looking good for the FBI," said BlazeTV host Glenn Beck on the radio program Thursday.

Trump has faced attacks from every direction, but despite all of it, he has "not been found guilty or had any kind of real, solid evidence against him," Glenn pointed out.

Glenn detailed a long list of investigations, accusations, and lawsuits against Trump, and the latest puzzling revelations about the FBI's raid of Mar-a-Lago, which only seem to raise even more questions. For example, did agents truly refuse to give Trump's lawyer a copy of the warrant upon arriving at the home? Because sources have alleged that his attorney was kept "10 feet away from the warrant" and was not allowed to actually read it. If that's true, then it was absolutely against the law.

Then there was the inordinate amount of time spent going through Melania Trump's closet. And did they have the proper authority to break into Trump's safe?

"That warrant had better damn well say that they can break into that safe because the law is, you can't go into somebody's house and ... just tear it all apart," Glenn said. "You have to have a pretty good idea of where things might be located, and you ask for permission for those areas. And you have to know exactly what you're looking for, and if it's in a safe, you need to specifically say, 'it's in a safe and we're having a safe cracker come in.' If they didn't say in the warrant that they could crack his safe, it's the fruit of the poisoned tree. By the way, there was nothing in the safe."

Glenn also explained that the FBI broke into a specific "safe room" that contained national archives, which Trump was allegedly told by investigators to keep in a locked room.

"[Trump] made a safe room, and put two locks on it, at their request. And that's what they broke into," Glenn said. "This doesn't look good for the FBI," he added.

Watch the video clip below to hear more from "The Glenn Beck Program." Can't watch? Download the podcast here.


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There’s an economic axis of evil taking shape right now, and the people in charge of our government are too stupid to acknowledge and deal with what’s happening. The U.S. dollar and the entire financial system are at stake, and, as Glenn Beck reveals on "Glenn TV" Wednesday, our enemies’ PUBLISHED plans to take the entire thing down.

While all of this is happening, our own leaders are making everything worse. We’ve got Nancy Pelosi risking an international incident, accelerating China’s plans to collapse us. And when Biden SHOULD be focusing on the security of our country, he’s instead preoccupied with controlling the weather with his Inflation "Reduction" Act.

Glenn exposes the TRUE numbers on what that bill will do to your family’s budget. Add to that, they’re more than doubling the IRS to make sure you feel the pain. And if you think they won’t come for you, look at what they just did to the former president of the United States. The DOJ and FBI just went after the political opponent of their boss, Joe Biden.

This is what they are focused on, and the threat to the dollar — and the entire financial system — isn’t even on their radar. Pain is coming for us, and they don’t care one bit.

Watch the full episode below:

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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.

Speaking before signing the “PACT Act of 2022” on Wednesday morning, President Joe Biden claimed that his wonderful economic plan "is working" and that somehow July’s annual inflation rate of 8.5% was actually “zero.”

“I just want to say a number: zero. Today we received news that our economy had 0% inflation in the month of July,” Biden said during a ceremony in the East Room of the White House.

White House press secretary Karine Jean-Pierre dutifully echoed the president's not-at-all misleading claim:

The truth of the matter is that last month's inflation rate of 8.5% was a (small) step in the right direction, but only because it was lower than June's 41-year high of 9.1% — and the thing is, anyone who's graduated kindergarten knows it.

So, who do White House personnel think they're fooling? On the radio program Wednesday, Glenn Beck and producer Stu Burguiere broke down how the Biden administration came to this latest disingenuous conclusion about the economy, what the latest consumer price index actually shows, and why the inevitable Biden brag-fest will be unbearable.

Watch the video clip below. Can't watch? Download the podcast here.

Want more from Glenn Beck?

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.