Eurozone Chief: We will raid private bank accounts to pay for future bailouts

Well, it's pretty much what everyone expected to happen in Europe once the government made plans to use depositor's own bank accounts over $100,000 to pay for the bailout in Cyprus. In the wake of the bailout being made on Monday, a top eurozone official has now said that the Cyprus model will be used as a template for future bailout in the European Union.

Jeroen Dijsselbloem, the Dutch chairman of the eurozone, said "If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?"

He then added, "If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders."

The policy is a shift from the past three years where large bank accounts with over $100,000 and senior bondholders had been protected. Dijsselbloem said that the Cyprus bailout showed that private investors could be forced to pay a "haircut" for bad investment and deals by the banks.

"What they've done in Cyprus is they have closed and frozen the bank accounts. They have taken the bank accounts, frozen them.  Anybody who had $130,000 or 100,000 Euros in the bank, they have now frozen those assets and they are only going to take 30 to 40%, they believe, 30 to 40% of those assets to pay down the debt," Glenn said.

"As we told you last week or ten days ago, this was the beginning. This was the Petri dish. And as soon as they got it through Cyprus, they would do it in other countries," he explained.

"Well, they announced today...they were thinking about doing this now in Spain, in Greece, in France, and where was the other one, Stu? Italy."

Glenn explained that when the European Union started, people concerned with national sovereignty were concerned because they were giving up their self-rule. But critics shouted them down.

"Remember the guy who started the Euro, the guy who dreamt this up. He said, 'Look, we're going to start the Euro and everybody will, you know, they will still retain some of their sovereignty until there's a national emergency, until there is a banking crisis. And then we will cobble everybody together and we'll collapse it and then restart as one nation.' So I mean, this was the plan from the very beginning. That's the plan as stated by them," Glenn said.

"This is one of those things where conservatives and people who actually care about their nation's sovereignty looked like maniacs when this thing was started and complained and complained and complained that they were giving up their sovereignty and then years later when it happens, no one remembers," Stu added.

Glenn asked the audience to consider what they would do if these practices spread beyond Europe.

"So what are you going to do? When they come and they just take 50% of your 401(k), your life savings, what are you going to do?" he asked.

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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Former South Bend, Indiana, Mayor Pete Buttigieg has surged in the polls in the past month.

With former Vice President Joe Biden dropping below far-left presidential candidates such as the unapologetically socialist Sen. Bernie Sanders (Vt.), and the almost equally extremist Sen. Elizabeth Warren (Mass), Democratic voters seeking a more moderate alternative are setting their sights on Mayor Pete.

But are Buttigieg's policies actually moderate? Not even close, Glenn Beck said Thursday on the radio program.

"[Pete Buttigieg] wants people to see him as a moderate. The mayor of a Midwest city in a red state ... and he's going for the middle, even though he is not a moderate candidate in any way," said Glenn.

Here are just a few example of where Buttigieg stands on the issues:

  • Supports late-term, partial-birth abortion
  • Eliminate the Electoral College
  • Buyback program for assault weapons
  • Raise the federal minimum wage to $15/hour
  • Expand Medicare
  • Decriminalize illegal immigration
  • Pay for infrastructure through changing taxes on corporations, the wealthy
  • Study reparations
  • Legalize marijuana
  • Increase existing taxes on upper-income Americans
  • Cancel some student debt
  • Don't use tariffs to pressure countries
Watch the video clip below for more information:

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An official at the World Health Organization (WHO), the United Nations' health agency, has issued a warning, calling the coronavirus "the worst enemy you can imagine" and more of a threat than "any terrorist attack," during a media briefing on Tuesday.

Dr. Tedros Adhanom Ghebreyesus, WHO's director general, said that a vaccine for the coronavirus will likely take 18 months to develop. The virus has reportedly killed hundreds and infected tens of thousands of people, primarily in China.

"To be honest, a virus is more powerful in creating political, social and economic upheaval than any terrorist attack. It's the worst enemy you can imagine," added Ghebreyesus.

On the radio program Wednesday, Glenn Beck noted that the same agency in charge of developing this life-saving vaccine, has taken the time to officially change the disease's name to COVID-19, citing the concern of "stigmatizing" any specific geographical location, individual, or group of people.

Watch the video below to catch more of the conversation:

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