Introducing the latest bubble about to burst: The Money Bubble

Glenn has been warning for some time that our current system is unsustainable and simply cannot last. Today Glenn saw a chart that should strike fear into every American citizen. It shows the latest bubble that appears to be approaching the moment where it will burst -- the money bubble.

On Sunday, USA Today published a article by John Maxfield from The Motley Fool, featuring a terrifying chart showing the internet bubble, the housing bubble, and an unnamed bubble that Maxfield said was being called a stock market bubble.

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Now, Maxfield's article doesn't say there is a stock market bubble happening in the United States. He explains, "the fact that the Fed's monetary policies have caused stock prices to soar, doesn't mean there's a bubble."  He does say, however, that they will most likely deflate as part of an overall correction.

Now, why does Glenn think the above chart is so important?

"I'm not sure if the stock market bubble and the money bubble will be exactly the same, but I think they are. It's being propped up by bogus money. You are borrowing money from the Fed at zero interest rates, and that money is worthless. It's not backed up by anything. And when we really do hit the money bubble, we're out. We're out."

"I wanted to show this to you, because for those of you listening to me for a long period of time, you know I'm wrong on timing. I'm always wrong on timing, but I'm not wrong usually in direction," Glenn said.

Later in the show, Glenn pulled out the transcript from March 2008 when he was on Headline News where he described how "the money bubble" would come about and collapse.

"If you see what was in USA Today, you will see that they are now talking about the money bubble. We built a bigger bubble than that housing bubble in 2008. Remember when we said if we don't fix this, this will get much, much worse? And when it gets much worse, when it finally pops, what do we do as a people?" Glenn asked.

Way back in 2008, Glenn warned that the policy of the Federal Reserve could result in a "money bubble". The transcript from that segment is below via CNN.com:

BECK: Welcome to the real story. I want you to look at your newspaper today and you will see all kinds of headlines in there trumpeting the great news that home sales were unexpectedly higher in February. Hey, that`s great, until you start looking under the hood of those headlines, you`ll find a very different story. Yes, sales were up slightly in February, but they were down nearly 24% from last year. And prices, which are now just a little more important are now down 11% from last year, biggest drop in the history of the S & P index. I know, details, details, shut up guy on TV.

The Dow now was up another 180 points yesterday, nearly 8% in the last nine trading days alone. I mean, that`s great. Everybody`s happy, what recession? If I may introduce you, one more time, I`m sorry to do this to Mr. Gloomy Pants. The real story is that we are now witnessing the birth of our next bubble. Just like communists, financial bubbles don`t ever go away, they just change their look.

The internet bubble shaped, shifted into the housing bubble and then the housing bubble has now shifted into something, I`m officially declaring, the nanny state money bubble. For the last few years, America has been, if I may, on a Las Vegas binge. Wall Street would be, were like out with hookers every night, Main Street doing blow and eating caviar off of somebody`s belly and then the bill claim and we just handed over our credit card. You take American Express? Then the party ended and the bills started to come in. And you know, we didn`t go home because the bill collectors were waiting for us at the front door. We just stood there in the bar and now we`re holding our hands out.

You know, looking, hey, Paris Hilton, she by the way in this analogy is playing the federal government, Paris Hilton, you`ll cover us right? Well, for now, Paris Hilton is happy to do that. She is cutting rates. She is bailing out company. She is printing out money in the basement, anything to make us all forget that the open bar is now over. But sooner or later, we`re all going to realize, wait a minute, Paris Hilton is not only unemployed, but her credit is actually worse than ours is. She doesn`t have any cash and more importantly, she has no ability to earn any cash. She`s been paying our tab by borrowing money, in fact, Paris Hilton, I believe, is the perfect analogy for this economy, neither have any real substance and both look far better in night vision, I`m just saying.

Bruce Bartlett this is former U.S. treasury official. Bruce, you`re kind of regretting coming on this program after I just equated the economy to Paris Hilton.

BRUCE BARTLETT, FORMER U.S. TREASURY OFFICIAL: Wow.

BECK: The federal government, aren`t you? You can be honest. That`s OK.

Bruce, tell me, the Fed is printing money, dumping money, the government is. Everybody is doing this. The stimulus package. They`re now looking for more, they`re bailing out companies and now they want to bail out borrowers. How do you -- this is bogus. What`s happening here is bogus money. There`s no real creation of anything here except debt.

BARTLETT: Look, the Federal Reserve, basically, is responsible for all of these bubbles and credit cycles, whatever you want to call them because it always overdoes things. You know, when the economy is hurting, it shovels money out any way it possibly can, and then they just keep shoveling more and more because they`re never sure that they`ve done enough because there`s always enormous political pressure to do something. And then eventually, you get inflation, they start to tighten. They always tighten a little too much. And so you`ve always got this boom and bust cycle that basically, I think, comes back to the Federal Reserves` money creation policy.

BECK: Here`s the problem. It seems to me that we are always popping a bubble. And in retrospect, you always go back and go, yes, $900 a share for pets.com. That wasn`t such a smart idea. It all makes sense after you get past it. How is it that nobody is seeing that the Fed right now is dumping money or shoveling money, as you say, but they`re not paying attention to inflation at all. What they`re doing is going to cause more inflation and then they got a really Sinbad belt tight, you know, tighten the belt on us to the point to where it`s going to hurt the other direction.

BARTLETT: Well, the problem is what the Fed does to the economy always takes -- there`s always a lagged effect. What the Fed is doing today will ultimately impact on the economy two years from now. But by then, people will have forgotten that that was the root cause. By then, they`ll talk themselves into believing it`s something else all together. Remember, Alan Greenspan gave his famous irrational exuberance speech about the tech bubble in 1996, but it wasn`t until 2000 that the bubble finally burst.

And in the meantime, people talked themselves into believing it wasn`t really a bubble that it was all real.

BECK: I get it.

BARTLETT: And the same thing in the housing sector.

BECK: I have to tell you, it`s like we`re taking political rufies all the time but we just what? I don`t remember that at all. Bruce, thanks a lot.

 

Time after time, Americans have taken to the streets to defend our constitutional rights, whether it was our livelihood at stake -- or our lives. But, what was the point of all the civil rights movements that came before, if we're about to let the government take our rights away now?

On his Wednesday night special, Glenn Beck argued that Americans are tired of having our rights trampled by "tyrannical" leaders from state and local governments who are ignoring our unalienable rights during this pandemic.

"Our nanny state has gone too far. The men and women in office -- the ones closest to our communities, our towns, our cities -- are now taking advantage of our fear," Glenn said. "Like our brothers and sisters of the past, we need to start making the decisions that will put our destiny, and our children's destiny, back into our hands."

It took less than two months of the coronavirus tyranny to make America unrecognizable, but some Americans are fighting back, risking losing their jobs and businesses or even jail time, as they battle to take back our civil rights.

Here are just a few of their stories:

After New Jersey's Atilis Gym reopened in defiance of the governor's executive order, the Department of Health shut them down for "posing a threat to the public health." Co-owner Ian Smith says somebody sabotaged the gym's toilets with enire rolls of paper to create the public health "threat."

Oregon Salon owner, Lindsey Graham, was fined $14 thousand for reopening. She said she was visited by numerous government organizations, including Child Protective Services, in what she believes are bullying tactics straight from the governor's office.

77-year-old Michigan barber, Karl Manke, refused to close his shop even when facing arrest. "I couldn't go another 30 days without an income," he said. But when local police refused to arrest him, Gov. Gretchen Whitmer's (D) office suspending his business license instead.

Port of Seattle police officer Greg Anderson was suspended after he spoke out against enforcing what he called "tyrannical orders" imposed amid coronavirus lockdowns.

Kentucky mother-of-seven, Mary Sabbatino, found herself under investigation for alleged child abuse after breaking social distancing rules at a bank. After a social worker from child protective services determined there was no sign of abuse, he still sought to investigate why the Sabbatino's are homeschooling, and how they can give "adequate attention to that many children."

Dallas salon owner Shelley Luther was sentenced to seven days in jail after she defied the state-mandated stay-at-home orders to reopen her business.

Watch the video clip from Glenn's special below:


Watch the full special on BlazeTV YouTube 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 multiplatform network of voices who love America, defend the Constitution and live the American dream.

It took less than two months of the coronavirus tyranny to make America unrecognizable. Leaders from state and local governments across the U.S. have flattened the curve of some of our most basic constitutional rights, but some Americans are fighting back — and risking jail time or losing their businesses.

On Wednesday night's GBTV special, Glenn Beck argued that we're witnessing the birth of a new civil rights movement — and it's time to build a coalition of common sense to keep America as we know it free.

Watch the full special below:

Use code GLENN to save $10 on one year of BlazeTV.

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 multiplatform network of voices who love America, defend the Constitution and live the American dream.

On the radio program Thursday, Glenn Beck sat down with chief researcher Jason Buttrill to go over two bombshell developments that have recently come to light regarding former Vice President Joe Biden's role in the 2016 dismissal of Ukrainian Prosecutor General Viktor Shokin.

"Wow! Two huge stories dropped within about 24 hours of each other," Jason began. He went on to explain that a court ruling in Ukraine has just prompted an "actual criminal investigation against Joe Biden in Ukraine."

This stunning development coincided with the release of leaked phone conversations, which took place in late 2015 and early 2016, allegedly among then-Vice President Biden, Secretary of State John Kerry, and Ukraine's former President Petro Poroshenko.

One of the audiotapes seems to confirm allegations of a quid pro quo between Biden and Poroshenko, with the later admitting that he asked Shokin to resign despite having no evidence of him "doing anything wrong" in exchange for a $1 billion loan guarantee.

"Poroshenko said, 'despite the fact that we didn't have any corruption charges on [Shokin], and we don't have any information about him doing something wrong, I asked him to resign,'" Jason explained. "But none of the Western media is pointing this out."

Watch the video below for more details:


Listen to the released audiotapes in full here.

Use code GLENN to save $10 on one year of BlazeTV.

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 multiplatform network of voices who love America, defend the Constitution and live the American dream.

A recently declassified email, written by former National Security Adviser Susan Rice and sent herself on the day of President Donald Trump's inauguration, reveals the players involved in the origins of the Trump-Russia probe and "unmasking" of then-incoming National Security Adviser, Gen. Michael Flynn.

Rice's email details a meeting in the Oval Office on Jan 5, 2017, which included herself, former FBI Director James Comey, former Deputy Attorney General Sally Yates, former Vice President Joe Biden, and former President Barack Obama. Acting Director of National Intelligence, Richard Grenell, fully declassified the email recently amid President Trump's repeated references to "Obamagate" and claims that Obama "used his last weeks in office to target incoming officials and sabotage the new administration."

On Glenn Beck's Wednesday night special, Glenn broke down the details of Rice's email and discussed what they reveal about the Obama administration officials involved in the Russia investigation's origins.

Watch the video clip below: