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.

As the left tries to erase America's history and disparage nearly everything about our nation's founding, Glenn Beck set the record straight about the Declaration of Independence, what it really says, and why he believes it is the "greatest mission statement of all time."

On the radio program Monday, Glenn read something you've probably never heard before: a section of the earliest known draft of the Declaration of Independence, written by Thomas Jefferson in July 1776 and lost for more than a century and a half.

"This wasn't found until 1947; the original draft of the Declaration was found in a bunch of Thomas Jefferson's writings, in a box in the Library of Congress," Glenn said. "This takes everything that you have learned about Thomas Jefferson and turns it upside down. It also explains why we didn't eliminate slavery. It also explains that our Founders felt passionately about slavery, that they tried to end slavery. I want to read just this paragraph to you. This changes absolutely everything."

Watch the video below for more details:



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On the radio program Monday, Glenn Beck, Pat Gray, and Stu Burguiere reacted to a recent Washington Post op-ed in which the author, Ron Charles, suggests that "as Confederate statues finally tumble across America, [and] television networks are marching through their catalogues looking to take down racially offensive content," perhaps the next items that should be up on the cancel-culture chopping block are "problematic books."

"Monuments celebrating racist traitors, which were erected to fabricate history and terrify black Americans, are not works of art that deserve our respect or preservation. Similarly, scenes of modern-day white comedians reenacting minstrel-show caricatures are not ironical interrogations of racism that we have to stomach any longer. But complex works of literature are large, they contain multitudes," Charles wrote.

He goes on to argue that "calibrating our Racism Detector to spot only a few obvious sins" is but an insidious source of self-satisfaction when compared to the process of critical debate on the values and intentions of history's literary legends.

"If cancel culture has a weakness, it's that it risks short-circuiting the process of critical engagement that leads to our enlightenment," Charles wrote. "Scanning videos for blackface or searching text files for the n-word is so much easier than contending with, say, the systemic tokenism of TV rom-coms or the unbearable whiteness of Jane Austen."

Could cancel culture really spiral all the way down to book burning? In the clip below, Glenn, Pat, and Stu agreed that this radical progressive movement is really about erasing America's history and overturning the foundation of our country. The fundamental transformation of America is happening now.

Watch the video below to catch more of the conversation:


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It's been a tough year, America. Our news media is inundating us with images of destruction, violence, and division in attempts not only to desecrate our nation, but to make us turn our backs on it. That's why now, more than ever, we need to take an up-close look at America's history to remember what it is we're fighting for and how to fight for it with practical action.

Join Glenn Beck, broadcasting from Standing Rock Ranch, as he takes us to Plymouth, Gettysburg, and Federal Hall on an important journey through America's remarkable history to inspire a brighter future. Glenn asks the hard questions of every American. Is this system worth saving? Is there a better way? Where do we go from here, and how do we answer those questions?

Featuring performances from the Millennial Choirs and Orchestras, David Osmond, a very special children's choir, and guests Bob Woodson, Tim Ballard, David Barton, Burgess Owens, Kathy Barnette, Anna Paulina Luna, and Tim Barton.

Watch the full special presentation 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.

"Restoring Hope" has been a labor of love for Glenn and his team and tonight is the night! "Restoring the Covenant" was supposed to take place in Boston, New York, Philadelphia, Gettysburg and Washington D.C. but thanks to COVID-19, that plan had to be scrapped. "Restoring Hope" is what was left after having to scrap nearly two years of planning. The Herald Journal in Idaho detailed what the event was supposed to be and what it turned into. Check out the article below to get all the details.

Glenn Beck discusses patriotic, religious program filmed at Idaho ranch

On July 2, commentator Glenn Beck and his partners will issue a challenge from Beck's corner of Franklin County to anyone who will listen: "Learn the truth, commit to the truth, then act on the truth."

Over the last few weeks, he has brought about 1,000 people to his ranch to record different portions of the program that accompanies the challenge. On June 19, about 400 members of the Millennial Choir and Orchestra met at West Side High School before boarding WSSD buses to travel to a still spring-green section of Beck's ranch to record their portion of the program.

Read the whole article HERE