Is financial catastrophe coming for the economy?

There's a lot of reasons for you to be concerned about the global economy this week. Greece owes a huge payment on their debt and everyone knows they won't be able to pay. A default could trigger a larger financial collapse worldwide, but no one seems to be worried. But will people start paying attention if every single bank account over a certain dollar amount gets a 50% haircut? Glenn spoke with an informant with inside information of what's going on behind-the-scenes, and what he told Glenn should scare everyone.

Glenn said he had a conversation with Tania a few weeks ago, and during their talk he suggested taking all of their money out of the bank because a Cyprus-esque haircut could be coming.

"I said, there's going to come a time where they'll just give everybody a haircut. You have money in the bank, they'll just give you a haircut. And not let you take money out of the bank," Glenn said. " Everybody gets 10 percent to 50 percent. Everybody just loses ten to 50 percent of whatever you have in savings. Whatever you have in the bank. Then they say on top of that, and, by the way, you can no longer withdraw anything more than $5,000, you know, per account. Per month."

Glenn said that he called his "Deep Throat", the insider who told him about TARP the Sunday before it was announced. While in the past he has been able to provide intel on what might be coming, recent events have him completely lost.

"This is the guy who called me the day before TARP was made public. He called me on a Sunday night crying. And he said, I was just in the treasury meeting, and he said, I just got out. They're going to announce something tomorrow. And he said, it's bad. But he convinced me that it had to be done. He said, because we're lights out. If this doesn't happen, we're lights out, he said. And I just walked home in Manhattan. From lower Manhattan to mid-Manhattan. And he said, I was crying all the way because I was looking at the drivers of the car and the people in the cabs and everything else, and he said, they have no idea what's coming our way. Nobody has any idea what's coming," Glenn said. "So he's been talking to me for a long time about what's coming."

"So I'm talking to him and I said, so, tell me how do we get out of this? How do we unravel this situation? And for the very first time he said, I have no idea. I have absolutely no idea. The world is never done this. I've never seen anything like it. He said, what's really disturbing is, everybody on the planet is doing this now. All of the central banks are doing this now. He said, at some point there is a tipping point. And the US dollar is just lights out," Glenn continued.

Stu brought up the debt crisis in Greece and how no one seems concerned that Greece has no money to pay it off.

"We talked about the situation going on in Greece this morning," Stu said. "The markets aren't really reacting to it negatively. They have this giant payment they have to make, and they can't make it. Everybody knows they can't make it. They just assume there will be a last-second deal as there's been the last few times they couldn't make this payment. There's a chance that they can't make this payment and the deal is not struck. Then it's like financial catastrophe for the world. And no one is really even paying attention to it. We've come to the point now where financial catastrophes are like the 12th story in the newscast."

Glenn's "Deep Throat" insists that the IMF and other global financial institutions will not be able to just bail everyone out. In fact, the informant has no idea what will happen, something Glenn has never heard him say before.

Glenn said, "So remember the guy we had on The End of the Dollar, and he said, what will happen is the IMF, or the World Bank will bail everybody out. My Deep Throat guy said, no, not possible. He said, that's just not possible. He said, they don't have the money to do it. He said, so we give them money to do it. So that's a circular thing. He said, that's not even possible. It doesn't even make sense to me. And I said, so where -- how do you -- and he said, I don't know. I don't know. That's significant. That's really truly significant. And like Pat said, so what happens?"

One thing you can't do, apparently, is take your money out of the bank. The Dennis Hastert scandal shined new light on regulations that prevent people from removing more than $10,000 out of their accounts.

"Are we even in America? You want your money, they're not going to give it to you," Glenn said. "Again, that brings us back to, am I the suspect here? Is the average American who is just living their life, are we the suspect? If you have something on me, okay, then get a warrant and show it. But if it's just I'm removing my money from a private institution because I want to go blow it all in Vegas or I just want to put it under my bed. As long as I'm not doing anything illegal with it, it's none of your business what I'm doing."

Glenn predicted that if things don't change, it will be illegal to carry large sums of cash.

Terry Trobiani owns Gianelli's Drive Thru in Prairie Grove, Illinois, where he put up a row of American flags for the Fourth of July. But the city claimed he was displaying two of them improperly and issued him a $100 ticket for each flag.

Terry joined Glenn Beck on the radio program Tuesday to explain what he believes really happened. He told Glenn that, according to city ordinance, the American flag is considered "ornamental" and should therefore have been permitted on a federal holiday. But the city has now classified the flag as a "sign."

"Apparently, the village of Prairie Grove has classified the American flag as a sign and they've taken away the symbol of the American flag," Terry said. "So, as a sign, it falls under their temporary sign ordinance, which prohibits any flying, or any positioning of signs on your property — and now this includes the American flag. [...] The only way I could fly the American flag on my property is if I put it on a permanent 20 to 30-foot flagpole, which they have to permit."

Terry went on to explain how the city is now demanding an apology for his actions, and all after more than a year of small-business crushing COVID restrictions and government mandates.

"COVID was tough," Terry stated. "You know, we're in the restaurant business. COVID was tough on us. We succeeded. We made it through. We cut a lot of things, but we never cut an employee. We paid all our employees. I didn't take a paycheck for a year just to keep our employees on, because it was that important to me to keep things going. And, you know, you fight for a year, and you beat a pandemic, and then you have this little municipality with five trustees and a president, who just have no respect for small businesses. And right now, what I see is they have no respect for the republic and the United States ... I think it's terrible. The direction that government, at all levels, have taken us to this point, it's despicable."

Watch the video below to catch more of the conversation:


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 multi-platform network of voices who love America, defend the Constitution and live the American dream.

The Biden administration is now doing everything it can to censor what it has decided is COVID-19 "misinformation." But Glenn Beck isn't confident that the silencing of voices will stop there.

Yeonmi Park grew up in North Korea, where there is no freedom of speech, and she joined Glenn to warn that America must not let this freedom go.

"Whenever authoritarianism rises, the first thing they go after is freedom of speech," she said.

Watch the video clip below from "The Glenn Beck Podcast" or find the full episode with Yeonmi Park 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 multi-platform network of voices who love America, defend the Constitution, and live the American dream.

Most self-proclaimed Marxists know very little about Marxism. Some of them have all the buzzwords memorized. They talk about the exploits of labor. They talk about the slavery of capitalist society and the alienation caused by capital. They talk about the evils of power and domination.

But they don't actually believe what they say. Or else they wouldn't be such violent hypocrites. And we're not being dramatic when we say "violent."

For them, Marxism is a political tool that they use to degrade and annoy their political enemies.

They don't actually care about the working class.

Another important thing to remember about Marxists is that they talk about how they want to defend the working class, but they don't actually understand the working class. They definitely don't realize that the working class is composed mostly of so many of the people they hate. Because, here's the thing, they don't actually care about the working class. Or the middle class. They wouldn't have the slightest clue how to actually work, not the way we do. For them, work involves ranting about how work and labor are evil.

Ironically, if their communist utopia actually arrived, they would be the first ones against the wall. Because they have nothing to offer except dissent. They have no practical use and no real connection to reality.

Again ironically, they are the ultimate proof of the success of capitalism. The fact that they can freely call for its demise, in tweets that they send from their capitalistic iPhones, is proof that capitalism affords them tremendous luxuries.

Their specialty is complaining. They are fanatics of a religion that is endlessly cynical.

They sneer at Christianity for promising Heaven in exchange for good deeds on earth — which is a terrible description of Christianity, but it's what they actually believe — and at the same time they criticize Christianity for promising a utopia, they give their unconditional devotion to a religion that promises a utopia.

They are fanatics of a religion that is endlessly cynical.

They think capitalism has turned us into machines. Which is a bad interpretation of Marx's concept of the General Intellect, the idea that humans are the ones who create machines, so humans, not God, are the creators.

They think that the only way to achieve the perfect society is by radically changing and even destroying the current society. It's what they mean when they say things about the "status quo" and "hegemony" and the "established order." They believe that the system is broken and the way to fix it is to destroy, destroy, destroy.

Critical race theory actually takes it a step farther. It tells us that the racist system can never be changed. That racism is the original sin that white people can never overcome. Of course, critical race theorists suggest "alternative institutions," but these "alternative institutions" are basically the same as the ones we have now, only less effective and actually racist.

Marx's violent revolution never happened. Or at least it never succeeded. Marx's followers have had to take a different approach. And now, we are living through the Revolution of Constant Whining.

This post is part of a series on critical race theory. Read the full series here.

Americans are losing faith in our justice system and the idea that legal consequences are applied equally — even to powerful elites in office.

Rep. Devin Nunes (R-CA) joined Glenn Beck on the radio program to detail what he believes will come next with the Durham investigation, which hopefully will provide answers to the Obama FBI's alleged attempts to sabotage former President Donald Trump and his campaign years ago.

Rep. Nunes and Glenn assert that we know Trump did NOT collude with Russia, and that several members of the FBI possibly committed huge abuses of power. So, when will we see justice?

Watch the video clip below:


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 multi-platform network of voices who love America, defend the Constitution and live the American dream.