Glenn Raves About His New Favorite Book

Glenn is something of an aficionado when it comes to books on Adolf Hitler. That's why he was surprised to learn about one originally written in the 1930s, but published in 2002 after the manuscript was discovered by the author's family. The book --- Defying Hitler: A Memoir --- was written as a warning to the world by a young man who witnessed Hitler's rise to power.

"You name it, and I've read it on Hitler. I have gotten all the way down to I Was Hitler's Chauffeur, which isn't worth the read," Glenn said jokingly. "You will learn more important things about what happened and what allowed Hitler to take place than any other book I've ever read about the Second World War."

Not to be outdone, co-host Jeff Fisher mentioned that he's currently "reading" a picture book about Hitler.

Enjoy this complimentary clip from The Glenn Beck Program:

GLENN: Have I told you guys about Defying Hitler? Did I tell you guys about it yesterday?

STU: No.

GLENN: Stu is fresh meat. Fresh meat.

JEFFY: Yeah, Stu has been gone.

GLENN: Stu, remember when I said, you need to read Garden of Beasts?

STU: Yes.

GLENN: And remember you guys heard it for about six months, until you couldn't take it anymore?

STU: Oh, my gosh. Yes. I finally had to read it.

GLENN: Right.

And then you read it, and you came back, and you were like...

STU: It was awesome.

GLENN: Right. And the reason I wanted you to read it was because it was a different perspective on Germany than you had ever read before, right?

STU: Uh-huh. Great book. By the way, supposedly going to be a movie at some point.

GLENN: I'm telling you, this one, A, it's a lot shorter. This book that I've recently found is 100 times Garden of Beasts.

And what it is, is a guy who was German, was growing up in Germany, came of age about 1920. So he was a teenager during the first world war. He started writing it in the '30s, but he's going after all his recollections, starting at 1914. So he remembers what Germany was.

STU: Uh-huh.

GLENN: Okay? Then he remembers the war. And he talks about the war and what happened. Then the 1920s. The Weimar Republic. Hyperinflation. He talks about that.

And then the coming of Hitler. And then Hitler and who he was and what happened.

This book was written in the '30s as a warning to the world. He escaped Germany and came to the United States. Became a professor. He became a huge author of historic books. He's -- he wrote the quintessential book on who Adolf Hitler really was, his character and his personality, back in like 1972. He dies.

His family finds on a shelf this manuscript in 2003 or 2006, something like that. It's published, becomes a big best-seller during the Bush years. I had never heard of it. Saw somebody reading it the other day. And I was like, what is that? Defying Hitler. And I said, "Ooh, that sounds good." And they started talking to me about it. You name it, and I've read on Hitler. I have gotten all the way down to I Was Hitler's Chauffeur, which isn't worth the read. But, anyway, I started reading this book. You will learn more important things about what happened and what allowed Hitler to take place than any other book I've ever read about the Second World War. It has a completely different point of view because he's not writing it from the point of view of the Nazis and what they were doing it. He's writing it from the point of view of the youth of the day.

And he was -- he was young. Okay? So he was in his teens when America -- or, when Germany was a certain way. And that 9/11 event, if you will, that changed them, was the first world war. Then they came back, and they were at each other's throats politically. And the churches were at each other's throats.

And then jobs were hard to find. And then they started printing money. And then money became -- you couldn't -- you know, we've read a million times that when you got paid, you stopped working, cashed your check, went in and bought anything you could in the store. Right?

STU: Uh-huh.

GLENN: Because a week from now, by the end of your workday, it would be -- your paycheck would be worthless.

STU: Uh-huh.

GLENN: What he talks about is -- and I've never heard this. It was the stock market that anybody -- anybody who didn't have a family, they took their money and they immediately poured it into the stock market. And they got wildly wealthy.

Now, think of this. Why don't we have hyperinflation? Why isn't our meat and milk and everything else -- why isn't that reflective of the $4 trillion that we have just pumped into the system, right?

If I said, ten years ago, you put $2 trillion into this system and you're going to start to see massive inflation. Okay? We're 4 trillion. Where's the inflation? You know this. I know you know this. You're going to go, of course, yes, when I say it.

The stock market. He need says, "Well, there's no -- the fundamentals are gone." What they should be saying is, "The stock market is reflective of hyperinflation." Because the stock market is a reflection of who has the money.

PAT: That and velocity.

GLENN: Right.

PAT: I mean, there's a couple of --

GLENN: So they don't -- so the people who got the money are the big corporations, the big banks. They're not giving it to you and me.

So we don't have too many dollars chasing too far goods. They do. And so that's why big elaborate houses are still going through the roof. The rich are starting to feel that inflation. And it's concentrated in the stock market. Okay?

STU: Uh-huh.

GLENN: Well, that's the same thing that happened in Germany. They started constantly -- but everybody was doing it. I'm sorry, the youth without children were taking -- they were buying a little bit of food to last them the week to the next paycheck. Then they were taking all that money and putting it into the stock market. And the stock market did what it's doing now.

And now here's what happened: Now, think of this. I've never heard this point of view before. And I think this is accurate.

He says in reading -- remember, he's writing in the mid-'30s as a warning to the West. You don't know who this guy is, and you don't know what happened to Germany.

The older people in Germany are not with him. The youth are with him. And here's why: Because they were too young to really understand the real German society. The German ethics and being kind to each other because they went -- they came of age during the war. And then they came to age during the war. And then right after the war, then the people turned on themselves, were arguing politics, demonizing each other. The Weimar Republic came in, delegitimized the money. All morals went out the window.

So if you're 25, you have no kids, you're going out to the cabaret every night, you are with -- you have a ton of money because you put it all in the stock market. You're living large. You're a titan. You're getting all of the girls. Your life is absolutely sweet.

Then what happens? At the end of the Weimar Republic, a sensible guy comes in, an older statesman comes in and says, "I can fix the hyperinflation." He fixes the hyperinflation. He fixes the fact that -- he says, "For two years, during this guys' rule, we're not even talking about politics anymore."

No one is arguing politics. We're on the road back to the way we were.

But all those youth who were bank presidents -- they were 25-year-old bank presidents, they're not bank presidents anymore. Because they were all discredited because it was a game of -- it was a shell game. It was like Wall Street, you know, the movie. Just a shell game. So those guys don't -- they have to go now into other jobs and work hard for their money. And those days are over for them. Those glory days. They want the glory days. So when Hitler comes in and says, "We're going to set the rules. We're going to privatize business with us -- and if you're in with the Nazi party, you're going to be able to make it." They recognize this game of -- just do -- the ends justify the means.

And I could have that life back. So the youth throw their lot in with Hitler. And that's why it worked. I had never heard of that before.

STU: It's really interesting.

GLENN: That's like the first third of the book. It's really good. Called Defying Hitler.

STU: I'm in. I'm in. I just finished Hitler: Ascent.

GLENN: I have not read that one.

STU: It's the new like -- the ascent is till 1939. So it's a two-part series. The 1,000 books per edition. A dozen pages per edition. You know, one of those types of books. But, I mean, fascinating.

Just the chapter on Hitler and the churches is so worth your time. If you've ever had the argument with someone on Facebook where they say, "These mass murders are fueled by religion." Hitler? He was. Look at this quote by Hitler. He says --

GLENN: All prior to 1933.

STU: All of it happened really early on, in the first few weeks of his reign as chancellor. But, I mean, the behind-the-scenes quotes they have from this guy, his entire mission was to discredit the churches afterwards.

It was like, living space, get rid of the Jews, then let's get rid of the churches.

GLENN: Shocking.

STU: That was his plan. And he used those relationships, tried to destroy the churches, and the quotes they have from him and Goebbels, and -- it's amazing.

GLENN: Hitler's Ascent?

STU: Hitler: Assent. It's -- Volker Ullrich is the guy who wrote it. It's the new sort of --

GLENN: Oh, Volker? Yeah.

STU: Oh, yeah.

I mean, it's amazing.

It's the new, like, biography on Hitler. The new one. Every ten to 15 years a new one gets written.

GLENN: Yeah. And that's the problem too because the farther we get away from these guys --

STU: It's a double-edged sword.

GLENN: Yeah, it's a double-edged sword. You want to be -- the time to write it is when some of the people are still alive, but they're not powerful. So at the end of their life. So they can still -- you can still check and say, right? Right? Right?

STU: Yeah.

GLENN: And if you use original sources, you're good. So the first ones that are written in the first 30 years are probably a little skewed. Probably. Unless they're attached entirely to original first person sources.

STU: Right. And so you had -- you've had this where -- Joachim Fest had one, which was influenced by a lot of the people who were alive, but a lot of the people who wanted to rehabilitate their reputations.

Albert Speer, being the main one. And that one came later.

Kershaw's in 2000, I think, was seen as the standard. And this one I think -- because while you're right, a lot of these guys aren't around anymore to tell the stories, more and more documentation has come out.

And really, I mean, the fuel for the industry, if you want to say the Hitler -- you know, the Goebbels diaries. Those changed the world on how much we understand. The guy was writing a diary entry about every meeting he was having during the era.

GLENN: That's the great thing -- and the Founders too.

But with Founders, they stopped using those diaries. They stopped using the original sources because it didn't give them the narrative they were looking for.

The narrative on the Nazis is, they were bad guys. And so their diaries back all of that stuff up. So as long as you're pegged to original sources, you're good.

STU: This has been Hitler book corner.

PAT: I just finished Hitler's Mailman's Neighbor.

GLENN: Did you? Wow.

STU: Oh, wow.

PAT: Yeah. He died in 1934. So he doesn't have a lot of perspective. But he talked about the junk mail he heard Adolf got early in his chancellorship.

GLENN: Original sources and footnoted?

PAT: All footnoted.

STU: Can I get your copy? Do you mind if I borrow it?

PAT: 823 pages of footnotes.

GLENN: So the three books -- the three books -- one I'm talking about is Defying Hitler. Hitler Ascent is Stu's. And Hitler's Mailman's Next-door Neighbor.

PAT: Mailman Next-door Neighbor is the third one.

GLENN: Thank you very much.

PAT: Uh-huh.

STU: It's a long read. Pat's, I will say is a little bit academic.

GLENN: There's no pictures even of the mailbox.

PAT: It's 2400 pages.

GLENN: And he dies before 33.

PAT: He dies --

JEFFY: My Hitler book has pictures.

GLENN: Amazing.

Rapper Kendrick Lamar brings white fan onstage to sing with him, but here’s the catch

Matt Winkelmeyer/Getty Images for American Express

Rapper Kendrick Lamar asked a fan to come onstage and sing with him, only to condemn her when she failed to censor all of the song's frequent mentions of the “n-word" while singing along.

RELATED: You'll Never Guess Who Wrote the Racist Message Targeting Black Air Force Cadets

“I am so sorry," she apologized when Lamar pointed out that she needed to “bleep" that word. “I'm used to singing it like you wrote it." She was booed at by the crowd of people, many screaming “f*** you" after her mistake.

On Tuesday's show, Pat and Jeffy watched the clip and talked about some of the Twitter reactions.

“This is ridiculous," Pat said. “The situation with this word has become so ludicrous."

What happened?

MSNBC's Katy Tur didn't bother to hide her pro-gun control bias in an interview with Texas Attorney General Ken Paxton in the wake of the Santa Fe High School killings.

RELATED: Media Are Pushing Inflated '18 School Shootings' Statistic. Here Are the Facts.

What did she ask?

As Pat pointed out while sitting in for Glenn on today's show, Tur tried to “badger" Paxton into vowing that he would push for a magical fix that will make schools “100 percent safe." She found it “just wild" that the Texas attorney general couldn't promise that schools will ever be completely, totally safe.

“Can you promise kids in Texas today that they're safe to go to school?" Tur pressured Paxton.

“I don't think there's any way to say that we're ever 100 percent safe," the attorney general responded.

What solutions did the AG offer?

“We've got a long way to go," Paxton said. He listed potential solutions to improve school safety, including installing security officers and training administrators and teachers to carry a gun.

Pat's take:

“Unbelievable," Pat said on today's show. “Nobody can promise [100 percent safety]."

Every president from George Washington to Donald Trump has issued at least one executive order (with the exception of William Harrison who died just 31 days into his presidency) and yet the U.S. Constitution doesn't even mention executive orders. So how did the use of this legislative loophole become such an accepted part of the job? Well, we can thank Franklin Roosevelt for that.

Back at the chalkboard, Glenn Beck broke down the progression of the executive order over the years and discussed which US Presidents have been the “worst offenders."

RELATED: POWER GRAB: Here's how US presidents use 'moments of crisis' to override Constitutional law

“It's hard to judge our worst presidential overreachers on sheer numbers alone," said Glenn. “However, it's not a shock that FDR issued by far the most of any president."

Our first 15 presidents issued a combined total of 143. By comparison, Franklin D. Roosevelt issued 3721, more than twice the next runner up, Woodrow Wilson, at 1803.

“Next to FDR, no other president in our history attempted to reshape so much of American life by decree, until we get to this guy: President Obama," Glenn explained. “He didn't issue 3000, or even 1800; he did 276 executive orders, but it was the power of those orders. He instituted 560 major regulations classified by the Congressional Budget Office as having 'significant economic or social impacts.' That's 50 percent more regulations than George W. Bush's presidency — and remember, everybody thought he was a fascist."

President Obama blamed an obstructionist Congress for forcing him to bypass the legislative process. By executive order, President Obama decreed the U.S. join the Paris Climate Accord, DACA, the Clean Power Plan and transgender restrooms. He also authorized spying in US citizens through section 702 of FISA, used the IRS to target political opponents and ordered military action in Libya without Congressional permission.

All of these changes were accepted by the very people who now condemn President Trump for his use of executive orders — many of which were issued to annul President Obama's executive orders, just as President Obama annulled President Bush's executive orders when he took office … and therein lies the rub with executive orders.

“That's not the way it's supposed to work, nor would we ever want it to be," said Glenn. “We have to have the Constitution and laws need to originate in Congress."

Watch the video above to find out more.

Six months ago, I alerted readers to the very attractive benefits that the TreasuryDirect program offers to investors who are defensively sitting on cash right now.

Since then, those benefits have continued to improve. Substantially.

Back in November, by holding extremely conservative short-term (i.e., 6-months or less) Treasury bills, TreasuryDirect participants were receiving over 16x more in interest payments vs keeping their cash in a standard bank savings account.

Today, they're now receiving over 30 times more. Without having to worry about the risk of a bank "bail-in" or failure.

So if you're holding cash right now and NOT participating in the TreasuryDirect program, do yourself a favor and read on. If you're going to pass on this opportunity, at least make it an 'eyes-wide-open' decision.

Holding Cash (In Treasurys) Now Beats The Market

There are many prudent reasons to hold cash in today's dangerously overvalued financial markets, as we've frequently touted here at PeakProsperity.com.

Well, there's now one more good reason to add to the list: holding cash in short-term Treasurys is now meeting/beating the dividend returns offered by the stock market:

"Cash Is King" Again - 3-Month Bills Yield More Than Stocks (Zero Hedge)
'Reaching for yield' just got a lot easier...
For the first time since February 2008, three-month Treasury bills now have a yield advantage over the S&P; 500 dividend yield (and dramatically lower risk).
Investors can earn a guaranteed 1.90% by holding the 3-month bills or a risky 1.89% holding the S&P; 500...

The longest period of financial repression in history is coming to an end...

And it would appear TINA is dead as there is now an alternative.

And when you look at the total return (dividends + appreciation) of the market since the start of 2018, stocks have returned only marginally better than 3-month Treasurys. Plus, those scant few extra S&P; points have come with a LOT more risk.

Why take it under such dangerously overvalued conditions?

If You Can't Beat 'Em, Join 'Em

In my June report Less Than Zero: How The Fed Killed Saving, I explained how the Federal Reserve's policy of holding interest rates at record lows has decimated savers. Those who simply want to park money somewhere "safe" can't do so without losing money in real terms.

To drive this point home: back in November, the average interest rate being offered in a US bank savings account was an insutling 0.06%. Six months later, nothing has changed:

(Source

That's virtually the same as getting paid 0%. But it's actually worse than that, because once you take inflation into account, the real return on your savings is markedly negative.

And to really get your blood boiling, note that the Federal Reserve has rasied the federal funds rate it pays banks from 1.16% in November to 1.69% in April. Banks are now making nearly 50% more money on the excess reserves they park at the Fed -- but are they passing any of that free profit along to their depositors? No....

This is why knowing about the TreasuryDirect program is so important. It's a way for individual investors savvy enough to understand the game being played to bend some of its rules to their favor and limit the damage they suffer.

Below is an updated version (using today's rates) of my recap of TreasuryDirect, which enables you to get over 30x more interest on your cash savings than your bank will pay you, with lower risk.

TreasuryDirect

For those not already familiar with it, TreasuryDirect is a service offered by the United States Department of the Treasury that allows individual investors to purchase Treasury securities such as T-Bills, notes and bonds directly from the U.S. government.

You purchase these Treasury securities by linking a TreasuryDirect account to your personal bank account. Once linked, you use your cash savings to purchase T-bills, etc from the US Treasury. When the Treasury securities you've purchased mature or are sold, the proceeds are deposited back into your bank account.

So why buy Treasuries rather than keep your cash savings in a bank? Two main reasons:

  • Much higher return: T-Bills are currently offering an annualized return rate between 1.66-2.04%. Notes and bonds, depending on their duration, are currently offering between 2.6% - 3.1%
  • Extremely low risk: Your bank can change the interest rate on your savings account at any time -- with Treasury bills, your rate of return is locked in at purchase. Funds in a bank are subject to risks such as a bank bail-in or the insolvency of the FDIC depositor protection program -- while at TreasuryDirect, your funds are being held with the US Treasury, the institution with the lowest default risk in the country for reasons I'll explain more in a moment.

Let's look at a quick example. If you parked $100,000 in the average bank savings account for a full year, you would earn $60 in interest. Let's compare this to the current lowest-yielding TreasuryDirect option: continuously rolling that same $100,000 into 4-week T-Bills for a year:

  1. Day 1: Funds are transferred from your bank account to TreasuryDirect to purchase $100,000 face value of 4-week T-Bills at auction yielding 1.68%
  2. Day 28: the T-Bills mature and the Treasury holds the full $100,000 proceeds in your TreasuryDirect account. Since you've set up the auto-reinvestment option, TreasuryDirect then purchases another $100,000 face value of 4-week T-Bills at the next auction.
  3. Days 29-364: the process repeats every 4 weeks
  4. Day 365: assuming the average yield for T-Bills remained at 1.68%, you will have received $1,680 in interest in total throughout the year from the US Treasury.

$1,680 vs $60. That's a 27x difference in return.

And the comparison only improves if you decide to purchase longer duration (13-week or 26-week) bills instead of the 4-week ones:

Repeating the above example for a year using 13-week bills would yield $1,925. Using 26-week bills would yield $2,085. A lot better (34x better!) than $60.

Opportunity Cost & Default Risk

So what are the downsides to using TreasuryDirect? There aren't many.

The biggest one is opportunity cost. While your money is being held in a T-Bill, it's tied up at the US Treasury. If you suddenly need access to those funds, you have to wait until the bill matures.

But T-Bill durations are short. 4 weeks is not a lot of time to have to wait. (If you think the probability is high you may to need to pull money out of savings sooner than that, you shouldn't be considering the TreasuryDirect program.)

Other than that, TreasuryDirect offers an appealing reduction in risk.

If your bank suddenly closes due to a failure, any funds invested in TreasuryDirect are not in your bank account, so are not subject to being confiscated in a bail-in.

Instead, your money is held as a T-Bill, note or bond, which is essentially an obligation of the US Treasury to pay you in full for the face amount. The US Treasury is the single last entity in the country (and quite possibly, the world) that will ever default on its obligations. Why? Because Treasurys are the mechanism by which money is created in the US. Chapter 8 from The Crash Course explains:

As a result, to preserve its ability to print the money it needs to function, the US government will bring its full force and backing to bear in order to ensure confidence in the market for Treasurys.

Meaning: the US government won't squelch on paying you back the money you lent it. If required, it will just print the money it needs to repay you.

So, How To Get Started?

Usage of TreasuryDirect is quite low among investors today. Many are unaware of the program. Others simply haven't tried it out.

And let's be real: it's crazy that we live in a world where a 1.68-2.09% return now qualifies as an exceptionally high yield on savings. A lot of folks just can't get motivated to take action by rates that low. But that doesn't mean that they shouldn't -- money left on the table is money forfeited.

So, if you're interested in learning more about the TreasuryDirect program, start by visiting their website. Like everything operated by the government, it's pretty 'no frills'; but their FAQ page addresses investors' most common questions.

Before you decide whether or not to fund an account there, be sure to discuss the decision with your professional financial advisor to make sure it fits well with your personal financial situation and goals. (If you're having difficulty finding a good one, consider scheduling a free discussion with PeakProsperity.com's endorsed financial advisor -- who has considerable experience managing TreasuryDirect purchases for many of its clients).

In Part 2: A Primer On How To Use TreasuryDirect, we lay out the step-by-step process for opening, funding and transacting within a TreasuryDirect account. We've created it to be a helpful resource for those self-directed individuals potentially interested in increasing their return on their cash savings in this manner.

Yes, we savers are getting completely abused by our government's policies. So there's some poetic justice in using the government's own financing instruments to slightly lessen the sting of the whip.

Click here to read Part 2 of this report (free executive summary, enrollment required for full access)

NOTE: PeakProsperity.com does not have any business relationship with the TreasuryDirect program. Nor is anything in the article above to be taken as an offer of personal financial advice. As mentioned, discuss any decision to participate in TreasuryDirect with your professional financial advisor before taking action.