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.

Woke ideology trumps medicine in America's top 5 medical schools

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Progressive ideology has infected our most prestigious medical schools and is seeping into our medical system.

As Glenn covered in his latest TV special, "diversity, equity and inclusion" (DEI), and leftist rhetoric have overtaken science and medicine as the focus of medical schools across the nation. The next generation of doctors and nurses is being force-fed DEI and "anti-racist" nonsense at the expense of slipping standards. This has led to a decline in people's trust in the medical industry and for good reason. Woke ideology has already been the driving force behind at least one medical malpractice case, and more are undoubtedly on the way.

All of this is being spearheaded by universities, which have integrated DEI practices into the fabric of their programs. Our top medical schools now require students and staff to participate in mandatory DEI and "anti-racist" classes and training and are adjusting the standards to reflect this new shift in focus. Here are 5 statements from the top American medical schools that show that medicine is no longer their primary focus:

Harvard Medical School

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Taken from the Harvard University "Unconscious bias" resource page:

“As members of HMS, we each have a responsibility to create an inclusive community that values all individuals. Barriers to inclusion may include assumptions we make about others that guide our interactions. Recognizing our Unconscious Bias is a critical step in developing a culture of equity and inclusion within HMS and in our partnerships with other communities.”

The Johns Hopkins University School of Medicine

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Pulled from the JHM Office of Diversity, Inclusion and Health Equity blog:

“One-hour live, virtual unconscious bias training ... [w]ill be required at all Johns Hopkins Health System (JHHS) entities for managers and above; hospital nurse leaders; credentialed providers (such as physician assistants and nurse practitioners); and for school of medicine faculty and trainees (including residents, fellows, medical and graduate students, and research postdocs), as well as those at a manager level or above.”

Stanford University School of Medicine

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Found on the Stanford Medicine Commission on Justice and Equity page:

“The Commission on Justice and Equity—composed of external and internal leaders, experts, and advocates—represents an institution-wide, collaborative effort to dismantle systemic racism and discrimination within our own community and beyond.”

Perelman School of Medicine at the University of Pennsylvania

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Taken from the Penn Medicine Commitment to Inclusion, Equity, and Antiracism site:

“We openly acknowledge the role of structural forces of oppression as primary drivers of the disparate health outcomes. We believe that working to reverse the underrepresentation of historically excluded groups is critical in achieving equitable health outcomes. While this is an ongoing journey for our program, here are some of the tangible steps we have taken to achieve an inclusive culture”

Columbia University Vagelos College of Physicians and Surgeons

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Pulled from the Vagelos College of Physicians and Surgeons Diversity, Equity, Inclusivity, Justice, and Anti-Racism page:

"Courses are being revised to be more inclusive and informed by the key principle of race as a social construct and a social determinant of health. We are training faculty that Anti-Racism is not an add-on to a course. Anti-Racism is a pedagogy - a manner of teaching, designing courses, and measuring learning outcomes. We make sure that the classroom environment is inclusive by holding space for respectful conversation and ensuring that we address any “classroom ruptures”– a disorienting dilemma or situation when a bias or microaggression that may occur, providing real time opportunities for professional development, learning, and growth. Racist actions and remarks are never tolerated at Columbia University and will be dealt with following established protocols."

Editor's note: This article was originally published on TheBlaze.com.

Critical theory once stood out as the absurd progressive notion that it is. Now, its maxims are becoming an integral part of ordinary political discourse. The more you repeat a lie, the more you will believe it, and this is the very dangerous place in which we find ourselves today.

Take this critical theory maxim as an example: If we desire justice, we must sometimes champion what may appear superficially as injustice. It's a necessary evil, if you will, the necessity of “controlled injustice.”

By using truth through fabrication and controlled injustice for justice, we’ll save the republic. We’ll be acting in a noble way.

This definition of justice is defined by the “oppressed,” not the “oppressor.” It is the greatest happiness for the greatest number. To achieve this justice, however, we need to endorse acts on occasion that, while seemingly unjust, serve a higher purpose. It will ensure the stability and the unity of our republic, and this may manifest in ways that seem contradictory to our values. But these are the necessary shadows to cast light on “true justice.”

And isn’t that what we are all after, anyway?

Here’s another critical theory maxim: Sometimes we find the truth through fabrication. Our pursuit of truth sometimes requires a strategic use of falsehoods. The truth is a construct that has been shaped and tailored to promote the well-being of the collective.

We sometimes need to accept and propagate lies designed by "the system” — not the old system, but the system that we’re now using to replace the old to get more justice through injustice and more truth through fabrication.

We’re engaging in a higher form of honesty. When we fabricate, it’s for the right reason. We are reaching up to the heavens fighting for a higher sort of honesty. To fortify the truth, we occasionally must weave a tapestry of lies. Each thread, essential for the greater picture, will ultimately define our understanding and ensure our unity under this infallible wisdom.

The election is coming up. Does this maxim sound familiar? Many think it is imperative that we secure our republic through election control to maintain our republic. Sometimes, we might need to take actions that by traditional standards might be questionable.

The act of securing elections requires cheating. It's not mere deception. It is a noble act of safeguarding our way of life. We're on the verge of losing this democracy, and without deception, we will lose it.

To ensure it doesn't fall into the hands of those we know will destroy it, we may have to make a few fabrications. We're fabricating stories to be able to control or secure the republic through our elections. By using truth through fabrication and controlled injustice for justice, we'll save the republic. Therefore, we'll be acting in a noble way. Stealing an election from those who wish to harm our society is truly an act of valor and an essential measure to protect our values and ensure the continuation of our just society.

If we desire justice, we must sometimes champion what may appear superficially as injustice.

I know it's a paradox of honor through dishonor. But in this context, by embracing the dishonor, we achieve the highest form of honor, ensuring the stability and the continuation of our great republic.

Let this be heard, far and wide, as a great call to patriotic action. As we advance, let each of us, citizens of this great and honorable republic, consider these principles. Not as abstract or paradoxical but as practical guides to daily life. Embrace the necessity of controlled injustice, the utility of lies, the duty to secure our electoral process, and the honor and apparent dishonor. These are not merely strategies for survival. They are prerequisites for our prosperity.

We all have to remember that justice is what our leaders define, that truth is what our party tells us. Our republic stands strong on the values of injustice for justice, honor through dishonor, and the fabrication of truths. To deviate from this path is to jeopardize the very fabric of our society. Strength through unity; unity through strength.

We've heard this nonsense for so long. But now, this nonsense is becoming an instituted reality, and we are entering perilous times. Don't be fooled by the narratives you will hear during the march to November. Never let someone convince you that the ends justify the means, that a little bit of injustice is needed to achieve a broader, collective vision of justice, that truth sometimes requires fabricated lies and narratives. If we do, justice will cease to be justice, truth will cease to be truth, and our republic will be lost.

Top 5 MOST EVIL taxes the government extorts from you

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"In this world nothing is certain but death and taxes." -Ben Franklin

The injustice of taxation has been a core issue for Americans since the very beginning of our country, and it's a problem we have yet to resolve. This belief was recently reignited in many Americans earlier this month on tax day when the numbers were crunched and it was discovered that the government was somehow owed even more hard-earned money. As Glenn recently discussed on his show, it's getting to be impossible for most Americans to afford to live comfortably, inflation is rising, and our politicians keep getting richer.

The taxpayer's burden is heavier than ever.

The government is not above some real low blows either. While taxes are a necessary evil, some taxes stretch the definition of "necessary" and emphasize the "evil." Here are the top five most despicable taxes that are designed to line the IRS coffers at your expense:

Income Tax

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"It would be a hard government that should tax its people one-tenth part of their income." -Ben Franklin

On February 24th, 2024 we hit a very unfortunate milestone, the 101st anniversary of the 16th Amendment, which authorized federal income tax. Where does the government get the right to steal directly out of your paycheck?

Death Taxes

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"Now my advice for those who die, Declare the pennies on your eyes" -George Harrison

Not even in death can you escape the cold pursuit of the tax collector. It's not good enough that you have to pay taxes on everything you buy and every penny you make your entire life. Now the feds want a nice slice, based on the entire value of your estate, that can be as much as 40 percent. Then the state government gets to stick their slimy fingers all over whatever remains before your family is left with the crumbs. It's practically grave-robbery.

Payroll

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"The power to tax is the power to destroy." -John Marshall

What's that? The nice chunk of your paycheck the government nabs before you can even get it to the bank wasn't enough? What if the government taxed your employer just for paying you? In essence, you make less than what your agreed pay rate is and it costs your employer more! Absolutely abominable.

Social Security

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"We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much." -Ronald Reagan

Everyone knows the collapse of Social Security is imminent. It has limped along for years, only sustained by a torrent of tax dollars and the desperate actions of politicians. For decades, people have unwillingly forked over money into the system they will never see again.

FICA

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"What at first was plunder assumed the softer name of revenue." -Thomas Paine

FICA is the payroll equivalent of Social Security. Your employer has to match however much you pay. It means it costs your employer even more to pay you—again, you'll NEVER see that money. At this point, are you even working for yourself, or are you just here to generate money for the government to frivolously throw away?

5 DISTURBING ways World War III will be different from previous wars

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Has World War III begun?

Over the weekend, Iran launched an unprecedented attack against Israel involving over 300 missiles and drones. This marked the first direct attack on Israel originating from Iranian territory. Fortunately, according to an Israel Defense Forces spokesperson Rear Admiral Daniel Hagari, 99 percent of missiles and drones were successfully neutralized by Israeli defense systems. Iran claimed that the operation against Israel had concluded and that no further offensive was planned, although the possibility of another attack is still present.

This has left many people, including Glenn, wondering the same thing: did we just witness the start of World War III?

Glenn recently had a World War II Air Force Veteran as a guest on his TV special, who told stories of the horrors he and his brothers-in-arms faced in the skies over war-torn Europe. This was a timely reminder of the terrors of war and a warning that our future, if it leads to another world war, is a dark one.

But, if Glenn's coverage of the Iranian attack revealed one thing, it's that World War III will look nothing like the world wars of the twentieth century. Long gone are the days of John "Lucky" Luckadoo and his "Bloody Hundredth" bravely flying their B-17s into battle. Over the weekend, we saw hundreds of autonomous drones and missiles clashing with extreme speed and precision over several different fronts (including space) simultaneously. This ain't your grandfather's war.

From EMP strikes to cyber attacks, here are FIVE ways the face of war has changed:

EMP attacks

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The entire modern world, on every level, is completely dependent on electricity. From your home refrigerator to international trade, the world would come to a grinding halt without power. And as Glenn has pointed out, it wouldn't even be that hard to pull off. All it would take is 3 strategically placed, high-altitude nuclear detonations and the entire continental U.S. would be without power for months if not years. This would cause mass panic across the country, which would be devastating enough on its own, but the chaos could be a perfect opportunity for a U.S. land invasion.

Nuclear strikes

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Nuclear war is nothing new. Many of us grew up during the Cold War, built fallout shelters, and learned to duck and cover. But times have changed. The Berlin Wall fell and so did the preparedness of the average American to weather a nuclear attack. As technology has advanced, more of our adversaries than ever have U.S. cities within their crosshairs, and as Glenn has pointed out, these adversaries are not exactly shy about that fact. Unfortunately, the possibility of an atomic apocalypse is as real as ever.

Immigration warfare

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The strategy of strangling an opposing nation's economy to gain the upper hand is a wartime tactic as old as time. That's why the Border Crisis is so alarming. What better way to damage an opponent's economy than by overburdening it with millions of undocumented immigrants? As Glenn has covered, these immigrants are not making the trek unaided. There is a wide selection of organizations that facilitate this growing disaster. These organizations are receiving backing from around the globe, such as the WEF, the UN, and U.S. Democrats! Americans are already feeling the effects of the border crisis. Imagine how this tactic could be exploited in war.

Cyber shutdowns

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Cyber attacks will be a major tactic in future wars. We've already experienced relatively minor cyber strikes from Russia, China, and North Korea, and it is a very real possibility that one of our adversaries inflicts a larger attack with devastating consequences on the United States. In fact, the WEF has already predicted a "catastrophic" cyber attack is imminent, and Glenn suggests that it is time to start preparing ourselves. A cyber attack could be every bit as devastating as an EMP, and in a world run by computers, nothing is safe.

Biological assault

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Don't trust the "experts." That was the takeaway many of us had from the pandemic, but something less talked about is the revelation that China has manufactured viruses that are capable of spreading across the globe. We now know that the lab leak hypothesis is true and that the Wuhan lab manufactured the virus that infected the entire world. That was only ONE virus from ONE lab. Imagine what else the enemies of America might be cooking up.