Beck Apologizes for Tweet, But Stands by Belief on Trump's Voting Record

I lead with my mistakes.

I recently retweeted a tweet from Donald Trump that indicated he voted for Barack Obama. This tweet was a hoax, and I apologized to Donald for reposting it.

What makes it worse, is that when I clicked “send” I was in the middle of arduous and honorable charity work. Apparently, if I just forwarded a chain letter to 100 friends, Bill Gates would give $1 million to an orphanage that treats children without eyelids. Not to mention, I would get a free iPad! (I’m not sure why Bill Gates is giving away iPads.)

Trump has answered the charges aggressively, and that makes a lot of sense. Obviously, if people thought he voted for Barack Obama it would heavily damage his campaign. In fact, we can all probably agree that a vote for Obama should disqualify him from the republican nomination in the mind of almost every primary voter. If you couldn’t figure out that Barack Obama was going to be bad for this country, you probably shouldn’t be leading the opposition party.

As we talked about on the radio show Friday, no one except Donald knows for sure what he did when he was alone in the voting booth. This is why the tweet seemed so incredible to me. It was an additional piece of evidence that seemingly proved a strong circumstantial case. (That’s still no excuse for reposting it.)

But, while the tweet appeared to be new evidence, it wasn’t part of my reasoning when I said it on radio and television. As I pointed out on Fox, I was referring to the 2008 election, not 2012. Here is why I believe Donald Trump did, in fact, vote for Barack Obama in 2008:

1. He was a registered democrat when he cast the vote. Trump had been a registered democrat for 7 years by the time the 2008 election came around.

2. This doesn’t guarantee that Trump voted for Obama of course. However, registered democrats in New York voted for Obama by a 91% to 8% margin. So, if Trump was in that 8%, he was quite the outlier.

3. He remained in the democratic party for almost another year after casting the vote.

4. In the decade leading up to the vote, he was a dedicated Democrat, with the only exception being his flirtation with the Independence (Reform) Party in 1999-2000. Incidentally, in this period, large parts of his platform were considerably to the left of Hillary Clinton, or Barack Obama. In fact, I don’t believe even Bernie Sanders has ever proposed a wealth tax on what is in your bank account.

5. In the year leading up to the vote, he spoke favorably about Hillary Clinton, telling Wolf Blitzer “I think Hillary would do a good job." Obviously, it is theoretically possible for someone that thinks Hillary would be a good president to vote against Obama. But to paraphrase Donald: “Not a lot of Republican votes come out of blue state democrats that support Hillary Clinton.”

6. He was among the fiercest critics of the Bush administration. Yes, now it’s hard to believe that he would have voted for Obama, but in 2008 he had spent several years speaking just as negatively about Bush. He called him “a terrible president, perhaps the worst president in the history of this country.”

7. It’s not just that he called Bush a “disaster” many times. It’s why he called him a disaster: Iraq. He called the invasion of Iraq “one of the worst decisions ever made” saying it would have been a “wonderful thing” if he had been impeached because of the war. In fact, he was arguing for the war related impeachment of Bush just two weeks before he cast his presidential vote.

8. Given his opinion on Iraq, consider Trump’s available choices as he looked back: one candidate on record opposing the war, one candidate on record passionately supporting “one of the worst decisions ever made.” Why wouldn’t he vote for Obama?

9. Similarly, given his opinion on Iraq, consider Trump’s available choices as he looked forward: one candidate on record saying he would end the war, the other on record saying he would escalate it. Why wouldn’t he vote for Obama?

10. He continued to praise Obama after the election telling Larry King “Here's a man that not only got elected, I think he's doing a really good job.”

11. He gushed about Obama in his 2009 book: “His comments have led me to believe that he understands how the economy works on a comprehensive level. He has also surrounded himself with very competent people, and that’s the mark of a strong leader.”

12. He supported Obama’s first main policy push, the stimulus, saying it was “what we need” while praising Obama’s for “building infrastructure, building great projects, putting people to work in that sense.”

13. He supported Obama’s efforts to fix the banks including to potentially “nationalize” them. “I do agree with what they're doing with the banks. Whether they fund them or nationalize them, it doesn't matter.”

14. Looking back at this period, he described himself as Obama’s "biggest cheerleader."

15. Trump’s argument is that he raised money for McCain, so obviously he supported him. Is this really a standard Donald feels comfortable with? Does that mean he also supported John Kerry, Nancy Pelosi, Hillary Clinton, Ted Kennedy, Anthony Weiner and Eliot Spitzer?

16. Immediately following the passage of Obamacare, while even moderate republicans coalesced around its repeal, Donald Trump made a maximum donation to the campaign of Harry Reid. Reid was one of the few vulnerable democrats able to hold on to power in the Tea Party wave election of 2010.

17. Speaking of the Tea Party wave, put yourself in that moment again. Hope for constitutional preferences was renewed. Hundreds of thousands of people were gathering all across the country and in Washington DC for Restoring Honor. Conservatives celebrated the biggest wave in a century. One month after that election, Donald Trump gave $50,000 to Barack Obama’s Chief of Staff, Rahm Emanuel.

Do I believe Donald Trump voted for Barack Obama in 2008? Yes. Yes, I do.

I could go on, but I’m in the middle of intense financial negotiations with an ousted Nigerian prince.

Donald Trump's Campaign Contributions

2008 Exit Polls

Bush Says Trump Was a Democrat Longer Than a Republican

Trump on Obama in 2009: “I Think He’s Doing a Really Good Job…He’s Totally a Champion”

Trump in '04: 'I Probably Identify More as Democrat'

Donald Trump Wanted Last Republican President IMPEACHED For Foreign Policy ‘Lies’

Trump Calls Former President George W. Bush 'a Disaster'

Donald Trump Calls Ex-President George W. Bush ‘a Disaster’

How Donald Trump Helped Democrats Pass Obamacare

Trump: I Cheered for Obama, But He's Dangerous

Donald Trump on Larry King Live in 2009 (Transcript)

I lead with my mistakes. I recently retweeted a tweet from Donald Trump that indicated he voted for Barack Obama. ...

Posted by Glenn Beck on Monday, January 18, 2016

 

Featured Image: Screenshot from The Glenn Beck Program

Glenn created "The Senate Fails to Condemn INFANTICIDE" in response to the Senate not passing Nebraska Senator Ben Sasses' bill banning infanticide early this year. In an effort to help support pro-life charities, Glenn first posted this for sale on eBay before being banned multiple times before we finally had enough and put it up for sale on bidpal.net.

At the time of this post, the bid was up to $4,700 — but we can do better than that. Please help us raise money for a good cause, you don't even have to display it anywhere in your home, you can just keep it in storage or something! If you want this priceless piece created by one of the most influential people in the world of art, place your bids here.

Can you remember the economic crisis of 2008 and how you felt when the news broke that Lehman Brothers had collapsed? I have found an economic threat that everyone needs to be aware of, so you can prepare yourself in case we see another 2008 type collapse. I am going to present the evidence to you and I urge you to verify everything and to form your own opinion.

What is that threat?

It is a bank called Deutsche Bank. They are by far the most dominant bank in Germany which is the world's fourth-largest economy. In 2018 they had €2.08 Trillion worth of assets and the second-placed bank (DZ Bank) had €506 Billion worth of assets. To show you how dominant this bank is, they have more assets than the 2nd, 3rd, 4th, 5th and 6th sized banks combined.
When we review a business there are three key parts to analysis:

  • Market sentiment
  • Business numbers
  • Technical Analysis

Market Sentiment

Deutsche Bank has a long history of potential scandals including going all the way back to World War 2 and dealing in Nazi gold. Below are five recent stories which have increased the negative sentiment around Deutsche Bank.

  1. In 2007, they purchased a portfolio of loans worth $7.8 billion and purchased insurance from Warren Buffets Company. It was discovered they did not set aside enough capital to cover any potential losses. Over the course of the ten years, they lost $1.6 billion, and when they sold the loan they did not update their financial statements to include the big loss
  2. The Panama Papers are an ongoing investigation looking for many things including offshore tax havens. These investigations have resulted in several heads of state resigning including in Iceland and Pakistan. Last November, 170 police raided 6 different offices in Frankfurt looking for evidence of money laundering.
  3. Estonia is a small country in Eastern Europe. It has a population of 1.3 million people and a GDP of €26 billion. In January, it was discovered Deutsche Bank got involved with a Danish bank called Danke Bank and processed over $230 billion worth of cross country payments (including from Soviet Russia) through one bank in Estonia.
  4. There have been rumors of issues with Deutsche for a while now and one of the solutions put forth was a merger with a bank called CommerzBank. The leaders of both companies met and they even got support from politicians. In April, news broke that the merger talks had failed because over worries the risks and costs would be too great.
  5. Last week in France, Investment banking boss Garth Ritchie and others were arrested in France over illicit tax transactions.

Business Numbers

Deutsche Bank is already struggling as they are losing staff, losing market share, and bonuses are expected to be down at least 10% and further rounds of cost-cutting to come. Now imagine the impact if business costs start going up.

The banking industry works in a very simple way. They raise funds through large bonds at low-interest rates and then sell those funds to business and individuals thru products like loans and credit cards at a higher interest rate which results in a potential profit.

Earlier this year, Deutsche Bank tried raising money through several bonds. They paid 180bp (basis points) on a two-year bond and 230bp on a seven-year bond. Let me put this in context for you. There is a small bank in Spain called Caixabank which paid 225bp on a five-year bond and one of the larger banks in Spain, BBVA paid 130bp on a five-year bond.

  • How and why is a small bank in Spain getting a better deal on bonds than a huge bank in Germany?
  • Why is a large bank in Spain getting a bond 100bp cheaper than a German bank?
  • What does the market know that we do not?

Stock Price

Deutsche is also missing revenue projections which further hurt the business ability to survive and prosper. As you can imagine all of this news has a deep and lasting impact on its stock price which is in deep trouble. Before I share the stock price, I need to put this into the context of the market and the industry compared to the big economic crash of 2008. Below you will see a chart of some banking stocks from around the world with their peak price prior to the 2008 crash, the low of the 2008 recession and the price today:

As you can see from the above chart the banks in America have recovered from the 2008 recession by anywhere up 375% and JP Morgan has not only recovered its price in full but is constantly setting new high's. Ireland went bankrupt and had to be bailed out by the EU/IMF following the 2008 crash and even our national bank has more than doubled its price since 2008. The worst performing bank I could find was Societe Generale which has issues but is still hovering around its 2008 low price levels.

Now let's put that into the context of Deutsche Bank. Not only has the stock not rebounded but it is over 65% below its 2008 low at $6.75.

Technical Analysis

When you are dealing with the stock market, you also have people who study pricing through technical analysis. Experts look at things like FIB sequences, trend lines, and support levels. Support levels are a key metric for a stock failing because are looking to find where it will find support and potentially bounce higher.

We are very close to a key support level ($6.40) and if the price goes below this level, there is no saying exactly how low the price could go. At least one company expects Deutsche to fall below this support level, as several weeks ago UBS downgraded the stock to a sell order. This news was compounded last Friday when rating agency Fitch, downgraded their credit rating to BBB or two levels above JUNK status.

Other Information

I know you are likely reading this and thinking "this bank must have smart people in charge and surely they have a plan, right?" I am sure there is a plan and while they have kept their cards close to their chest, they have spoken in the past about the areas they foresee having growth for the company – they include business in Saudi Arabia, UAE, and Egypt. Do they strike you as countries which are stable and will offer steady and reliable growth? Do you have to think really hard to imagine how this could go potentially very wrong?

Questions

I believe there is at least a solid case Deutsche is in a LOT of trouble. So what are possible scenarios for the future? I will lay out the key questions below but I must stress that it's impossible to say for sure what exactly will happen. One of the key numbers to remember here is they have roughly €50 billion worth of derivatives.

  • How likely is it that the bank can turn things around and survive?
  • How likely is it the bank continues to run into trouble, its stock price fails and eventually fails?
  • If you think it is likely it will fail, the question becomes what will the fallout be? Who will be affected?
  • Will they be bailed out?
  • If so, by whom? The German government, ECB, IMF, the Federal Reserve?
  • What will the German government think? Some members recently spoke out saying they would block public money for the proposed merger? Will they block funds if it failed?
  • Will other banks be exposed and affected? Will they have to take losses?
  • Will those losses be spread around or will one or more bank be mainly affect?
  • Will this affect the sentiment of the banking sector and cause a panic?
  • If there are issues and it starts affecting the stock prices, what will be the impact on other industries?

Last Question

The last question revolves solely around the banks and the regulators? How secure are the other banks? We all hear about how banks are now put through "stress tests" but how much trust do you put in those results? How much trust do you have in the regulators?

I know this may make me sound like a conspiracy theorist to some but it's an honest question. The Fed is on public record saying they want to keep this economy strong as long as possible. If a bank did not perform strongly in a stress test or even barely failed one, do you think they would report it?

Can you imagine the pressure that body would come under to stay silent? Can you imagine the rhetoric they would face with questions like, "Are you really going to fail one bank? Do you know how many people will lose their jobs if you do that?" Am I saying this is happening? No, but can you really rule it out 100% as a possibility?

I urge you to ponder on these questions, do your own research and find YOUR answers.

Update: The most freaquently asked question I have received from this column / show is how much time do we have to prepare. This is an impossible question to answer, as it could fail tomorrow, next week or might be next year. However I want to provide you a potential date for your diary – July 24th. That is when Deutsche will release their next earnings report and if it comes in below expectations, it could cause a further drop in price casting more doubt over the future viability of the bank.

Please support Jonathon's weekly podcast which is exclusive to the Blaze Media and available for FREE. He offers a unique perspective by promoting America's Founding Principles and brings every issue back to a set of core principles which are always based around the laws of nature. You can find links to his show by clicking here or by searching for Freedoms Disciple on your favorite audio platform.

Survey: Where do you stand on these conspiracy theories?

Thought Catalog / Unsplash

Have you seen this survey on the most-believed conspiracy theories in America?

It's no surprise the survey has been getting so much attention. The results are actually a pretty disturbing.

Infographic: Belief in Conspiracy Theories in the United States | Statista

I decided to put together a quick survey of my own, with slightly different wording.

Up-vote the ones you agree with and down-vote the ones you disagree with.

I believe Lee Harvey Oswald killed JFK alone. However, I would not be surprised to find out the government sealed evidence that others were involved.

If by "deep state" you mean long-time Washington power brokers who are used to calling the shots and now feel threatened by Donald Trump not listening to their advice or council — yes, I do believe that many people like that are working against him and his administration.

Whether alien bodies are in Area 51 or not, I do believe the government knows more about UFOs than they have told us.

I do not believe the U.S. government was involved in 9/11, but as we know, NSA advisor Sandy Berger was caught destroying documents from the national archives related to both Bush and Clinton. All U.S. administrations have been to close to the Saudis, and the Saudis were involved in 9/11 at some level.

I believe the climate is always changing — it's natural. I would be willing to accept that man MAY play a role in this. But I do not believe in the solutions currently being discussed, nor do I believe the intention of most political activists are pure.

Any talk of the Illuminati provides the true dangers to man's freedom — like very powerful NGOS and men like George Soros — a perfect cover.

The U.S. government has done some horrible experiments on people and land — I also suspect they will do more things in the future. But I do not believe in the systematic spraying of chemicals using chemtrails.

The moon landing was real, but I see a time coming when people will not be able to trust their eyes due to deep fakes.

What do you think?

Let me know in the comments section below.