Should you prepare for a run on the banks?

As the world continues to become more and more unstable, people continue to live life as if everything is going along just fine. Banks, however, are aware of just how unstable the globe is financially. The IMF has warned policy makers to prepare for massive ‘runs’ on the banks. Can that really happen?

The IMF has come out and said, "The extended period of monetary accommodation and the accompanying search for yield are leading to credit mispricing and asset price pressures, increasing the chance that financial stability risks could derail the recovery."

So what does that mean? Glenn explained on radio that it means prepare for a run on the banks.

Below is a transcript of this segment

Glenn: Here's what's happening. We have a shadow banking system. And we've told you about this, that the way we do banking credit, the way we are not shoring up the assets that our banks claim they have, it's all bogus. It's all bogus. You know, we thought we were in trouble and we thought we would clear this up. We didn't clear this up after 2008. We made it much, much worse. We're going to be doing a show on this later this week. But how we have made this much worse than it was in 2008. And so now there's a growing share of liquid credit in mutual fund portfolios. What does that mean? That means your mutual fund says it has all of this stuff, but it's a illiquid.

In other words, if they had to liquidate it-- you don't have money -- for instance, how much are you worth? Well, what you're supposed to do is say, how much money do you owe and then separate that from how much money do you actually have and then you'll see if you're upside down or not. If you actually have anything. And then how much of that is liquid?

So in other words, let's say you have your house paid for. You're really fortunate. You have your house paid for and your car paid for. Okay. Those are assets but they're not liquid assets. Those aren't things that you can actually go and say, hey, I need some money. Okay. Well, here you go. Here's the money. No, I have to sell my house or sell my car and so it's only worth what I can get for it at that time. And there's no fast way to get out of that. Let's say the credit -- the banking system starts to fail. And everybody says, who has a mutual fund, your 401(k), you start to fail and you say, okay, well, I got to get my money.

Here's the problem. The mutual funds are illiquid, meaning they can't get that money. They don't have access to that money. There's not enough money. It's growing illiquid. And so you can't go in and get your money at the bank. You can't turn it in. And so what's going to happen is they'll have to close these mutual funds and say, wait, wait, wait, do your Jimmy Stewart. But you don't understand how this works.

So that's what -- that's what they're saying. So now they're saying, you better prepare for runs on the bank, because when it starts to happen, and people start to say, well, I need my money, the banks are going to say, well, it's not here. It's not here. And that will make them run to their other bank, not their mutual fund, not their 401(k), but they'll start pulling money out from anything that they have, which will drive the price of housing town, drive the price of assets down, because everyone will be selling.

PAT: And in a savings and loan like with the Jimmy Stewart movie, it's -- it's suppose to be that way. Because you sign an agreement with them at the beginning that, okay, if you ever want to get your money back, you sign this agreement and then there's a certain period of time the bank has to return your money --

GLENN: That's why he said in the movie --

PAT: That's why he says, you sign right here and you'll is have your money in 20 days.

GLENN: That's what you -- that's --

(overlapping speakers).

PAT: And they didn't care because it was a panic and they want their money now. With a bank, though, you're suppose to be able to go get your money because it's suppose to be cash.

GLENN: Here's the problem. Here's how bad the banking system is. In our business if I were only 30% liquid in my business, if -- if I had crushing debt that everything was 70 or 80% a liability, and I didn't have -- I didn't have any real cash or any real assets, if it was all leveraged assets, I wouldn't be able to do business. I just wouldn't be able to do business. And I don't know -- I don't remember the ratio, but I think it's like 70/30 for average businesses. 70/30 you have to have the hard assets. And that's a healthy business. The banks are like at 10 and 20%. And that's raising it up from where it was. So the banks are not even doing business like regular businesses would do business. Any business would go out of business if we did business like the banks do business.

So now what they're doing is they're doing a run. Now, this is the first real international war game that they have ever done that we know of like this. And they're doing it this week. And what they're doing is if the banks fail in Spain, what happens to the banks in Germany? And if the banks fail in Germany, how do we shut things down so it doesn't spread to England? And if it goes to England, how do we shut it down so it doesn't come to America?

And they're going to do these things and they're trying to try to make everybody feel better but it won't work because it's all a shell game.

Now the International Monetary Fund is now warning a run on the bank -- this is the quote. Expect runs -- prepare for runs. Now, that's what you're reading if you're reading a website like Zero Hedge, which if you -- it will make your head hurt, because anybody who reads Zero Hedge, the way I've just tried, and everything else, I'm making their head explode. But I don't claim to have an expert on any of this stuff. I barely can keep my head above water on this stuff. And I read Zero Hedge and I only get about 30% and only understand about 30% of it. But that 30% is enough to give you the indication of the truth of what's coming.

Soros is trying to elect MORE TEXAS RINOs. Here's how YOU can stop him.

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Texas is under threat of a George Soros-backed takeover.

Soros-funded RINO judges have been elected in some of the highest courts in Texas. These judges implemented restrictions that have blocked nearly a thousand cases of voter fraud from being investigated or prosecuted from across the state. These new restrictions are similar to ones in place in states like George, Arizona, and Wisconsin, leaving Texas more susceptible to election corruption than ever. If Texas falls to corruption, America will lose its largest bastion of conservative electoral power in the nation. Without Texas, Republicans WILL NOT be able to win national elections and liberal corruption will go unchecked across the country.

Fortunately, there is a way to stop this: YOU.

If you live in Texas you have a chance to stand up against corruption and to fight back! Starting Tuesday, February 20th, early voting for the primaries begins, where three of these judges are up for election. Go out and vote. If the right people are voted in, there's a good chance the restrictions will be lifted and election fraud can once again be prosecuted.

But remember, you can't just go in and vote for anyone who has an "R" next to their name. Sorors knows that a registered Democrat would never stand a chance in Texas, so his lackeys register as Republicans and ride the little "R" right into office. So who do you vote for?

Fortunately, Glenn had Texas Attorney General Ken Paxton on his show today and Ken gave us his list of judges that he vouches for. His list is as follows:

  • Gina Parker
  • Lee Finley
  • David Schenck
The Primary Election runs from February 20th to March 5th. This is your chance to get out there and make a difference. It might be the most important election you ever participate in. If you need to know where your nearest polling location is, or any other information regarding the election, you can go to votetexas.gov to find out more.
It's time to stand up.

Hypocrisy EXPOSED: The 'Amazon Files' and what WE are doing about it

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Who is really banning books?

For years now, Conservatives have been taking flak from the left for supposed "book bans." The left likes to compare these "bans" to Nazi book burnings, accusing the right of sweeping authoritarian decrees designed to suppress information. In reality, this is a movement largely motivated by parents, who want to remove inappropriate books from children's libraries.

But if you want to discuss authoritarian book bans, look no further than the White House. As Glenn recently covered, the Biden administration has been pressuring the world's largest bookseller, Amazon, into suppressing books they disagree with.

On February 5th, 2024, Ohio Representative Jim Jordan released a slew of subpoenaed documents that exposed pressure placed on Amazon by the Biden Administration. The documents, which Jordan dubbed "The Amazon Files" after Elon Musk's "The Twitter Files," revealed an email conversation between Andrew Slavitt, a former White House senior adviser, and Amazon employees. In these emails, Slavitt complained that the top search results for books on "vaccines" were "concerning" and then requested that Amazon intervene. Amazon initially refused, not out of some altruistic concern for the free exchange of information. They thought any action taken would be "too visible" and would further exasperate the “Harry/Sally narrative,” referring to the outrage that followed Amazon's removal of Ryan T. Anderson’s book When Harry Became Sally.

Despite this initial refusal, Amazon agreed to meet with the White House a few days later. The number one item on their agenda was removing books from the website. An Amazon employee even admitted that the reason they even took this meeting was due to the pressure being placed on them by the Biden Administration.

What was the result of this meeting? Amazon caved. They began to implement ways of limiting the outreach of books that challenged the mainstream vaccine narrative and other books the White House might not like.

The White House was caught red-handed pressuring the world's largest bookseller to restrict the sale of books they consider in opposition to their narrative, and they have the gall to accuse conservatives of information suppression. This is just ONE of many actions committed by the Biden Administration that are more characteristic of a dictator than a president.

What can you do about it? Fortunately, you are not dependent on Amazon and its corrupted algorithm to help you find books. Every week right here on GlennBeck.com, we highlight books that Glenn is reading or talking about in our "Glenn's Bookshelf" series. Here you can find a wide selection of books free from Amazon's filters. Be sure to sign up for Glenn's newsletter to find out about new additions to "Glenn's Bookshelf" every week.

10 times Biden has acted like a DICTATOR

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The left-wing media's most recent tirade is accusing Trump of being a dictator. But, as Glenn said, "Everything they're accusing us of, they're doing."

Since day one, the Biden administration has overstepped the bounds placed on the executive branch set by the Constitution. In Glenn's most recent TV Special, he examined ten times Biden acted like a dictator, NOT a president. Here are 10 of Biden's Dictator Moves, and click HERE to get ALL of the research that went into this week's Glenn TV special:

5 ways to protect your First Amendment rights. Number 4 will surprise you.

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Every day it seems Glenn covers another story revealing how people across the world at all levels of power DESPISE the fact that YOU have rights, and they are actively trying to curtail them. Recently, there has been a string of attacks against the rights outlined in the First Amendment: the freedom of religion, the freedom of speech, the freedom of press, the freedom of assembly, and the freedom to petition.

As a refresher, the First Amendment reads as follows:

"Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances."

This is powerful stuff, there is a good reason the Founding Fathers made it the FIRST Amendment. It's also the reason why power-hungry elites are attacking it. These attacks are designed to control the way you think, speak, and believe, vote, what you read, and who holds your representatives responsible. The First Amendment is our strongest weapon against tyrants, and they know it.

So what can you do about it? Hope that some wig in Washinton will eventually do something? We know how well that works. The best thing to do is to stay active, engage in the issues you care about, and exercise your rights.

So where to start? Here are a few things YOU can do to protect your First Amendment rights:

Religion

The best way to flex your Freedom of Religion is to—you guessed it—practice your faith. Become an active member in your place of worship, go to scripture studies, invite your friends to that late afternoon event, and walk the life. This can impact the way you spend money as well. Shop the businesses and brands that share your values, and don't shop at the ones that scorn them. Keeping the community alive and healthy is the best way to ensure that generations to come will be able to experience the freedom you enjoy.

Speech

Much like religion, the best way to protect your freedom of speech is... to speak. Engage your friends and family in polite, civil conversation. Stand up for what you believe in, and make your case to your peers. Just remember to keep it friendly. No one ever won an argument by shouting down their opponent. The civil exchange of ideas is the cornerstone of our republic, and a dialogue where the participants are well-informed, considerate, compassionate, and open-minded can have permanent impacts on all involved.

Press

Freedom of the Press seems a little tricky at first. Unless you work for the media, what are you supposed to do? Quit your job and go work for the local newspaper? The good news is that exercising this right is not nearly that difficult. In fact, you are currently doing it. The best thing you can do is to read from outlets that produce informative content. Want to know what Glenn consumes to stay informed every day? Sign up for Glenn's Morning Brief newsletter to get all the stories Glenn gets sent to his desk every day sent straight to your inbox.

Assembly

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Freedom of assembly is one of the more impactful yet underutilized freedoms in the First Amendment. Peaceably assembling and protesting with like-minded individuals can hugely influence politicians and policies while simultaneously creating community and fellowship between attendees. It's understandable why more people don't turn out. We're all busy people with busy schedules, and flying out to D.C. for the weekend seems like a daunting task to many. Thankfully, you don't have to go out all the way to D.C. to make a difference. Gather some like-minded people in your town and bring awareness to issues that impact your community. Big change starts locally, and exercising your freedom to assemble can be the catalyst to lasting impact.

Petition

If you've been a long-time listener of Glenn, then you will have heard a few of his calls to action where he asks his audience to contact their representatives about a particular piece of policy. There is a good reason Glenn keeps on doing those: they work. Whether it's your local mayor or your senator, a call and an email go a long way. If you really want to make a change, convince your friends and family to reach out as well.