GLENN

4 Steps to Break Down Walls From a Former Westboro Baptist Church Member

Megan Phelps-Roper, who grew up indoctrinated with hatred in the Westboro Baptist Church, left the church in 2012 after what can only be described as an awakening.

"She left the church a while ago, and recently did a TED talk on why she left and how it happened. And it's fascinating because, I mean, there are parts of it that sounds like she's just lifting lines from Glenn Beck about how to deal with the world," Co-host Stu Burguiere said Thursday on The Glenn Beck Program.

Interestingly, Phelps-Roper's conversion began in the hateful universe of social media, where she encountered a pattern that repeated during her 144-character conversations on Twitter.

Initially, the people I encountered on the platform were just as hostile as I expected. They were the digital version of the screaming hordes I had been seeing at protests since I was a kid. But in the midst of that digital brawl, a strange pattern developed. Someone would arrive at my profile with the usual rage and scorn. I would respond with a custom mix of Bible versus, pop culture references, and smiley faces. They would be understandably confused and caught off guard. But then a conversation would ensue. And it was civil. Full of genuine curiosity on both sides.

Concerned with the current state of division in the country, Phelps-Roger has identified four steps on how to approach people with different ideas, especially on social media platforms:

1. Don't assume bad intent

2. Ask honest questions

3. Stay calm

4. Make the argument, explain

"If you want to make it happen, she's giving you the recipe. And it's Martin Luther King's recipe. Unfortunately, most of our society is siding with Malcolm X. Most of us want the anger and hate and rage. We all want it to stop, but we're all being led to believe that nothing will ever change with the other side," Glenn said. "That's a lie, and she's proof positive of that lie."

Listen to this segment from The Glenn Beck Program:

GLENN: I want to get to the media bias and American kids. Can they spot fake news stories? Can they spot bias? We'll give that to you here in just a second.

STU: So Megan Phelps-Roper. She was in the Westboro Baptist Church. So Phelps is the name.

GLENN: Right.

STU: Fred Phelps was the head guy.

GLENN: Is she -- is she a child of?

STU: No, I think she's married.

GLENN: Okay. So she was a child of Fred?

STU: Yeah. She grew up in -- or, it might be grandchild of Fred. Fred is -- I could be --

GLENN: Have we lost him?

STU: He's very old. I don't know if we lost him. I don't keep up with every iteration of what goes on in the Westboro Baptist Church. But I do find it a fascinating topic, in that it's -- they're just so crazy. And to see -- if you don't know who they are, they're the people that go and protest military funerals. They say God hates Jews and gays.

GLENN: All kinds of stuff. Really bad.

STU: You know, they're the worst part of every news story, basically.

GLENN: Uh-huh.

STU: They come out -- gosh, this is a tragedy. Now it's worse. They're able to do it every single time.

GLENN: Right. Right. Right.

STU: So she grew up -- and, you know, I know we had someone who left the Westboro Baptist Church a long time ago. And I can't remember if it was her or if it was someone else because a couple people have left. But almost everybody at the Westboro Baptist Church is from the Phelps family. It's like 80 percent Phelps family members.

GLENN: Boy.

STU: So she left the church a while ago. And recently did a TED talk on why she left and how it happened. And it's fascinating because, I mean, there are parts of it that sounds like she's just lifting lines from Glenn Beck about how to deal with the world. Now, you might not want to be associated with someone who is in the Westboro Baptist Church --

GLENN: But she's out of the Westboro Baptist Church.

STU: She's out --

GLENN: She's out and she's talking about why she left. And for everybody who says, "Well, you don't -- the left won't listen." Let's listen to how the woman -- do you think the left is less extreme than the Westboro Baptist Church?

STU: If you could communicate with someone like that and break down those walls, you could do it with anybody.

GLENN: And listen to what she said. How it was done. Listen to this.

MEGAN: In 2009, that zeal brought me to Twitter. Initially, the people I encountered on the platform were just as hostile as I expected. They were the digital version of the screaming hordes I had been seeing at protests since I was a kid. But in the midst of that digital brawl, a strange pattern developed. Someone would arrive at my profile with the usual rage and scorn. I would respond with a custom mix of Bible versus, pop culture references, and smiley faces. They would be understandably confused and caught off guard. But then a conversation would ensue. And it was civil. Full of genuine curiosity on both sides.

How had the other come to such outrageous conclusions about the world?

Sometimes the conversation even bled into real life. People I had sparred with on Twitter would come out to the picket line to see me when I protested in their city.

A man named David was one such person. He ran a blog called Jewlicious. And after several months of heated, but friendly arguments online, he came out to see me at a picket in New Orleans. He brought me a Middle Eastern dessert from Jerusalem, where he lives. And I brought him kosher chocolate and held a "God hates Jews" sign. There was no confusion about our positions, but the line between friend and foe was becoming blurred. And it changed the way we spoke to one another. It took time, but eventually these conversations planted seeds of doubt in me.

GLENN: Now, imagine how many Jewish friends this guy had who said, what, are you selling out? Don't you know she's using you? Don't you know, you're being pulled in? You're a sellout. You've got to stand against.

How many people she had in her life saying the same thing. But they both were being civil to each other. And -- and probably everyone in their life said, "It's not going to change anything." And look what happened. Do you have another cut from her?

PAT: Yeah.

STU: If you can win over the Westboro Baptist Church -- and she went on later. Something you said a million times. She said, the conversations always started, and neither of us changed our positions.

GLENN: Yep.

STU: Neither of us changed our principles. It wasn't -- it was just listening. You don't have to change your ideas. It was listening and communicating like your -- your friend.

GLENN: And then start talking about families and things you have in common.

STU: Yeah. And it helped, I mean, win over a Westboro Baptist Church member. And to the extent of how crazy that would be -- because you think of these people, I mean, they're obviously crazy.

GLENN: I mean, God hates Jews. God hates gays. I mean, you can't think of people who are more off their rocker than this --

PAT: She goes into that.

STU: Yeah. And to talk about how indoctrinated she was. She talks at the very beginning of this that the first protest she went to, she was five years old, protesting gays somewhere. Holding a sign she couldn't even read.

PAT: Uh-huh.

GLENN: Wow.

STU: That's how deeply she was in this. And she goes through this entire process. And through Twitter -- we think of all these good people being turned bad through Twitter. Here's someone who went through Twitter and turned her life from pure evil to something else.

MEGAN: My friends on Twitter took the time to understand Westboro's doctrines. And in doing so, they were able to find inconsistencies I had missed my entire life. Why did we advocate the death penalty for gays when Jesus said, let he who is without sin cast the first stone? How could we claim to love our neighbor, while at the same time praying for God to destroy them?

The truth is that the care shown to me by these strangers on the internet was itself a contradiction. It was growing evidence that people on the other side were not the demons I had been led to believe.

These realizations were life-altering. Once I saw that we were not the ultimate arbiters of devine truth, but flawed human beings, I couldn't pretend otherwise. I couldn't justify our actions, especially our cruel practice of protesting funerals and celebrating human tragedy.

GLENN: Okay. Stop here for a second. Let's just put this together. Both sides have this problem. Both sides in one way or another is the Westboro Baptist Church. Both left and right. We have extremists on both sides.

But let's just think of -- for this audience, let's just think of the right -- or, the left thinks they're the arbiter of everything that is true. They're the -- we're not science deniers. We're not that way. You're the science denier.

Well, you aren't educated. We are educated. We have all the universities. They believe that everything intellectually is on their side. Right? So they're morally superior. They don't see the -- the disconnect between saying, let's march for women and yesterday, while this was going on, they were advocating -- the left was advocating and going against the CDC, saying, women are protesting the CDC because you men can't tell us not to drink during our pregnancy.

Well, I agree that we can't tell you what to do. That's your decision. But that doesn't seem like something you later in life will be proud of standing and marching for.

It doesn't seem logical, to me, that when all is said and done, you'll be proud that you marched for abortion for the killing of children. That at some point in your life, you, or most, I believe, will come to the determination that, you know, that is a child. Because there's no way. Because of science. It's going to force you. I'm not the science denier. You're the one that says, I don't want a scan. I don't want an ultrasound to happen. And give the women a chance to say, oh, my gosh, it is a child. If they have that scan and they say, I don't care. Well, that's a different subject.

But you have to admit that that is a child; otherwise, why would you say no to ultrasounds?

Which one of us is in this bubble? Now, I'm only using this side because both sides are in a bubble. But anybody who says that they cannot reach the left, you're -- listen to what she just said. It was by kindness on the internet, first. Kindness of not slamming back.

Because the left does see the right as a monster, just like many on the right see the left as a monster. They're not.

We're not. We disagree on things. And we ratchet it up because we're screaming at each other. But if we'll just start talking -- and better yet, listening. Listening first. To one another. You will find what I have found, wow, we have a ton in common.

Now, it's not going to change everything overnight. People say to me all the time, yeah, well, who have you changed? Well, nobody. But I will tell you, look how many people from the left have been on this show. Just two days ago, we had somebody on the left who said, you know what, I changed my mind. I'm actually not on the left. I'm on the right. And I was die-hard on the left. And now I've changed. So while I haven't personally done it, I think it is happening.

And if you want to make it happen, she's giving you the recipe. And it's Martin Luther King's recipe. And unfortunately most of our society is siding with Malcolm X. Most of us want the anger and hate and rage. We all want it to stop. But we're all being led to be convince that had nothing will ever change with the other side.

And so it's of no use. That's a lie. And she's proof positive of that lie. At least I think so.

STU: At the most extreme level. If this isn't a proof of concept, I don't know what is.

[break]

GLENN: Craziest elections, our series continues in just a few minutes. Also, we want to talk to you a little bit about Obamacare. And Stu wants to give us the four steps that this woman from the Westboro Baptist Church said got me out of the church.

STU: Yeah, she identified these. Which I thought were interesting. One, don't assume bad intent. And that's something I like to use on social networks. Because it makes your -- it just makes your life better. You know, if you're constantly getting in fights with people, it's just annoying. And I've -- because people will insult you. Like I insult Jeffy all the time, and he knows it comes from a good place.

GLENN: Uh-huh.

STU: But that's how I look at everybody who calls me Hitler on the internet.

PAT: They mean it in a nice way?

STU: They mean it in a joking way. And I just treat it that way. And I don't care. It makes me feel better.

GLENN: You know what, a lot of times I'll see people online. They'll say something like, you know, you're so mean to Glenn. And blah, blah. You know, the one defender. Blah, blah, blah. And they'll be like, no, I'm a big fan of the show. I was joking.

STU: Right.

GLENN: And so if you don't assume bad intent, it saves you a lot of angst.

STU: Yeah. And it also means you never get pissed off at the internet.

GLENN: Yes.

STU: So many people get obsessed in these little battles. They never bother me. I never care what you say about me. If you go with that principle, just don't assume it's bad. All these interactions wind up being better. And many times, by the way, you turn people around. There's people who are fans of the show that didn't like some things we said. They came out, they call us all sorts of names. If you respond nicely, typically they'll just turn around --

PAT: Yeah. I'm having a hard time finding the rainbow in all of that, during the election. When they were saying things like eat crap and die, I didn't think that was necessarily good-natured.

GLENN: But I will tell you -- I gave up. It was overwhelming at the time. But I will tell you, a lot of people will say, you know what, you're right. I'm sorry. I flew off the handle. I don't agree with you. But I appreciate it.

PAT: Yeah.

STU: Step two. Ask questions. So that's a great thing to do.

PAT: Even the very existence of God. For if there be a God, he must surely rather --

GLENN: Shut up.

STU: But I mean, asking questions is important. And honest ones. Right? It's not just like trying to come up with a point and just saying what you believe and pushing other people. And then asking questions that aren't honest.

GLENN: Don't ask a question that you know the answer too.

PAT: Just trying to set people up.

GLENN: And you're just trying to trap people into it.

PAT: Yeah.

STU: This one is very difficult for a lot of people. But if you do the other two, you can do this one, which is stay calm.

You know, the person who you're going up against in an argument, especially from the other side are going to say terrible things about it, why let it bother you? That's you. That's not them. That's you letting it bother you. You're making the choice to allow it to bother you. If you stay calm and don't let it bother you, you're able to kind of reason your way through the argument.

PAT: How amazing is it that this is coming from a Phelps -- the granddaughter of Fred Phelps, the founder of the Westboro Baptist Church. This is astounding.

STU: Yeah, because it worked on her to get her out.

PAT: That is really amazing. She and her sister both got out.

STU: Yeah. It might have been her sister --

PAT: It might have been her sister Grace we talked to. I think so.

STU: We should see if she'll come on too. Because it's great.

And the last one is make the argument. Which that one didn't strike me as obvious when I was listening to that list. But if you're in a battle with someone on the left or you're in a battle with someone who is nuts and you're trying to actually persuade them, a lot of times I think because we believe, for example, low taxes are the right thing to do or abortion is wrong or whatever the belief is, it's so apparent to us, we treat it as if it's doctrine to everybody. And we don't bother to walk people through the step by step argument of how you actually get there. So many people have -- they start at their arrival point. I'm young. I'm in college. I'm a liberal. I'm a leftist, I love abortion.

PAT: Uh-huh.

STU: And the process very well may not have ever happened, where they made that decision organically. Where they walked through the steps in their head.

GLENN: You know, I got to get to the survey. The survey shows that most people -- and this includes teens -- and I will narrow it down to teens. But most people get their money from a friend, or I blog. A commentator of some sort. They haven't done the thinking. They get the opinion from someone else who may or may not have done all of the thinking themselves.

STU: Take the time to actually make the argument when you're talking to someone. Calmly. Don't assume their bad intent. You follow those few steps -- you're not going to win everybody over, nor should you care --

GLENN: Isn't it interesting, you're on the bandwagon.

PAT: I've been on the band freaking wagon. I brought these clips to the show.

GLENN: Listen to him now.

STU: Stay calm! That's all I'm saying. Stay calm!

GLENN: I'm assuming bad intent.

TV

The ONLY Trump/Epstein Files Theories That Make Sense | Glenn TV | Ep 445

Is the case closed on Jeffrey Epstein and Russiagate? Maybe not. Glenn Beck pulls the thread on the story and its far-reaching implications that could expose a web of scandals and lead to a complete implosion of trust. Glenn lays out five theories that could explain Trump’s frustration over the Epstein files and why Glenn may never talk about the Epstein case again. Plus, Glenn connects the dots between the Russiagate hoax, the Hunter Biden laptop cover-up, and the Steele dossier related to the FBI’s new “grand conspiracy” probe. It all leads to one James Bond-like villain: former CIA Director John Brennan. Then, Bryan Dean Wright, former CIA operations officer, tells Glenn why he believes his former boss Brennan belongs in prison and what must happen to prevent a full-blown trust implosion in American institutions.

RADIO

Rumors explained: Is Fed Chair Jerome Powell OUT?!

After rumors spread that President Trump would soon fire Federal Reserve Chair Jerome Powell, Trump has said that he's "not planning" on it right now. But is it possible for Trump to fire him? Will he resign? And how is the Fed Chair even chosen in the first place? Glenn and his head researcher Jason Buttrill explain ...

Transcript

Below is a rush transcript that may contain errors

GLENN: Well, last night, I was rapidly looking the lie some of these rumors, on X.

Pretty incredible people on what's going on with Jerome Powell and the fed.

What the heck?

I was actually popping popcorn and watching this. It was so crazy.

GLENN: So it's just the rumors, that he is going to be stepping down?

JASON: Well, yeah.

Yeah. Anna Paulina Luna. Congresswoman. She was saying, it was almost imminent, that he was about to be fired. Actually fired.

There were other rumors saying, well, we're not sure about fired.

But he's considering resigning.

GLENN: Yeah. You know why.

JASON: We were like, what the heck is going on?

GLENN: So do you know why?

Do you know why he's resigning? Any guesses? I mean, you had popcorn out. I would love to hear what you have come up with.

JASON: So there was the CPI stuff coming out. The interest rates going up.

We know that the President wants interest rates to come down. I'm assuming that is what the deal is, and there's some sort of internal battle going on.

GLENN: Well, and the president can't fire the Fed chief. Okay?

So the Fed chief is the one that nominated. The federal reserve is the biggest crock of bullcrap I've ever seen in my life.

It's nothing, but the five biggest banks. Okay? And you know which ones they are. They're the ones that keep getting bigger. And everybody else is falling to the wayside.

So the Federal Reserve is the arm of those five banks.

Okay?

And they suggest, who the president can select from.

So the president can't say, I don't want any of these guys. I want this guy. Can't do it.

He has to take a look at the list that all the banks have put together. Is. Say, pick from this list, Mr. President.

Did you know that?

JASON: It's kind of how Iran chooses their next president.

GLENN: It's exactly. It's exactly that way. Except, this religion is all about the almighty dollar.

Okay. So he can't -- he can't pick on his own. But the president has a right to pick one, you know, every term. If it comes up in his term.

The president wants this guy out. And I think he's been really, really bad.

Because he's been wrong on almost -- on almost everything. But show me the -- show me the Fed, you know, the guy who the Fed was right ever.

So he can't fire him. But he wants him out. Because he wants interest rates dropped.

And, you know, the jobs are coming back. Things are coming back.

But interest rates keep coming up.

And the -- and the interest rates, if we keep our interest rates high, we have a harder time borrowing money for our debt.

And it just gets more and more expensive for everybody all along. So the president wants him to back off interest rates. But the Fed chief believes that that could cause more inflation.

Which I think he's right on that one. And I hate to say he was right on anything.

Because I don't think he was ever right.

Makes me question myself. When he's like, well, I think he might have a point on that one. But the president is like, no. He can handle it.

I want them down. I want cheap money again.

He refuses. So what has the president done?

The president can only fire him, with cause!

So what do you do when you can only fire somebody with cause, and you want them out.

You find a cause, and this one is easy.

So the Fed has been the one leading the way saying, we can't keep borrowing money.

We've got to have some fiscal sanity. Right?

This is going to kill us. We have to keep these interest rates high, because you are borrowing too much money. And maybe this is the only way to stop you.

So we got to keep it high, because you've borrowed too much money. And how many times has he testified in front of Congress? We've got to cut. We've got to cut. You can't keep spending like this.

Okay? Well, did you know that the Federal Reserve, with our tax dollars, the five biggest banks, a/k/a the Federal Reserve, is redoing their offices. To the tune of two billion dollars!

Now, I don't know what kind of wallpaper they need there.

But that seems like a pretty hefty renovation, especially when everybody is looking at cutting things. And you're lecturing me about spending money. So they get money from the government, okay? They're telling us, stop spending.
Stop borrowing.

Except, okay. What you've borrowed. I need $2 billion of that, to redo our offices in Washington, DC.

Excuse me?

Why don't you do that yourself. Okay. I think banks maybe have some money.

So they're borrowing that money, and there's $700 million over.

So it's $2 billion. $700 million over budget. And they're still not finished.

And the problem is: They're putting in water features.

They have a rooftop garden they're building.

JASON: Okay.

GLENN: I mean, it is -- it's insane. The president now knows, really? You want to play this game with me. I will sit your ass down in front of Congress, and you answer to the American people, how you're lecturing us about spending. And you're putting in a rooftop garden and a water feature in your office. No! No.

So the president is now threatening, I'll fire you for this. You want to quit, now would be the time to quit.

Otherwise, I'm dragging your butt in front of Congress.

You answer to the American people for this. And they will beg me to fire you.

That's what's happening.

JASON: I looked at that a lot.

Because I was like. There's got to be some leverage that the president had, because they can't get rid of.

But that is a pretty big cut. That sounds like a Babylon Bee article. $2 billion.

GLENN: It does. It does. $2 billion, 700 million over budget.

JASON: Oh, my gosh.

GLENN: I mean, and these are the responsible bankers. No, I don't think so.

It just shows, they don't mean what they say. They'll just keep doing it for themselves. You know, if you really believed that America was really on that financial cliff, why would you do that?

You would lead the way and say, guys, we are going to be the only responsible ones here.

We will lead by example.

No renovation. You know what, go to IKEA?

You need a new desk. Go to IKEA, and get a new desk. Well, we have to keep up our image. We're not going to have a country.

So what do you say, we go to IKEA?

Our image should be, we are going to lead the way out of this madness!

That's what a leader would do.

JASON: So, Glenn, I still don't think I get this disconnect between Trump and Powell on -- we know Trump wants to lower interest rates.

Powell is standing back and saying, basically, he doesn't want to do it.

Is he trying to undermine President Trump on this?

GLENN: President Trump thinks so. President Trump thinks so.

I think so, to some degree.

I mean, I'm worried about inflation.

Look, you know what happened. Do you know what's happening with yap?

JASON: What's happening with Japan?

GLENN: So what's happening with Japan, is Japan has always had this really amazing image of, we're solid. We're absolutely solid.

This is target to crack. The foundation.

1989.

Let me go back to 1989.

This was the crown jury trial of the global economy.

Back in 1989, you probably aren't old enough to remember.

All of a sudden, Japan owned everything in America. We were just becoming Japanese, and everything was being purchased by Japan. Kind of like it feels a little bit like China now.

JASON: They even owned Nakatomi Plaza, Glenn, that Bruce Willis had to save -- they owned everything in every '80s movie!

GLENN: Oh, yeah, they owned absolutely everything.

Okay? And the -- things were so insane in Japan. The grounds of the imperial palace, in Tokyo, on paper was worth more than the entire value of the state of California.


JASON: Wow!

GLENN: Okay?

So their land. Everything just shot up. And so they had all of -- they were flush with all this cash.

And people believed that Japan had suddenly, you know, cracked the formula for, you know, eternal prosperity.

That's the problem. Then it all started to fall apart. And the asset prices. That they had mortgaged against.

Okay?

They had borrowed. Well, the imperial palace was worth more than California.

That doesn't make any sense. You wouldn't mortgage it like that. At least long-term. I will do this real quick, and pay it off.

You would never, ever mortgage, because you know that's inane. Well, nobody ever wanted -- and it seems in governments, nobody ever wants to believe that this is just a fluke. Okay?

So the asset prices collapse. The stock markets plunged. And for three decades, they have gone into this very polite political coma.

Okay? Economic coma. And so the central bank did something radical. They were the first ones to set your interest rate at zero. They lowered the interest rate. They made money so cheap, it was nearly free. Zero percent interest. Sometimes, they would pay you to take out money.

So the -- they had negative interest rates. Can you imagine that? Now, you're not fixing the problem. You're just printing wallpaper to cover the mold. All right?

So they've done this for decades.

Now their debt is I think 260. Or 280 percent of their GDP.

I think, what is ours?

100?

80 percent.

Something crazy. 120. You never believe back.

The death threshold is usually 120, 140.

They're 260 percent of their entire economy is debt.

That's not a crack. That's a fault line.

So this week. Or was it last week? Things started to creek and grown in Japan.

And the government bonds, which are like our treasuries. Is this getting too complex.

Are you following this still?

JASON: Yeah.

GLENN: Okay. So their government bonds.

They were the safest investments on earth.

One of them. Okay?

It's us. Japan, Germany.

They started to fall.

Hard. And when bond prices fall, interest rates were the easily go up.

All right?

So they borrow all this money.

260 percent of their GDP is borrowed. Okay?

So they borrowed all of that money. And they had it at like 3 percent interest. Whatever.

2 percent interest.

And they were paying people.

2 percent.

Well, all of a sudden, the cracks started to appear. And people were like, I'm not sure this is stable at all.

And then the belief of the system started to -- to go away. So people started selling their Japanese bonds.

Once they do that, now the yields have to go up.

What happens when yields go up?

What happens when interest rates go up? For a government. You have to pay more interest on your debt!

Okay?

You add two or three points.

Just imagine, you have an adjustable rate. Okay?

This is a government having an adjustable rate. Except, they have 260 percent of everything they make, in debt!

And it's all leveraged.

And now, their adjustable goes up two, three, four points.

You're not able to afford that anymore, okay?

So massive problem.

Because what it really means is. People don't believe in Japan.

They know the con game is now over.

And investors are saying, you know, I want a whole lot more in return.

Because I just don't believe you anymore.

And it's not just Japan's problem. This is not a neighbor's house on fair.

This is -- imagine we're all living under the same roof. This is the neighbor's apartment, on fire.

We're all under the same roof. We all have the same foundation. And so when this happens to Japan, you should pay attention. And I'll show you the ripple effects in just a second.

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(music)

GLENN: Okay. So now if Japan -- that means there's a stampede out of Japan.

And people are starting to look and reprice the risk of their money.

Now they're like, wait a minute.

The most stable. You know, if you're driving a car and it is the safest car in the world and all of a sudden, they just start blowing up on the highway.

You're like, I don't think that's the most -- that's the safest car on the highway.

And if that's the safest car, what does it mean for the car I'm in?

You know what I mean? So now, this is going to push US interest rates going up.

Which makes our mortgage rates go can up. And our car loans more expensive. And the national debt. Which is already costing us $1.2 trillion a year, just in interest.

Now, they can't sell their treasuries. People are skittish on treasuries. Maybe they come to the United States, but they're not so far.

They're getting out of the Japanese interest. Or the bonds there.

Japan has to pay their bills.

What do you do when you have to pay a bill?

And you don't have any money coming in.

You don't have enough money coming in. What do you do?

You sell something. Right? You sell your car. You sell something that you have of value.

Well, what do they have? What do they hold of value? US Treasuries.

So now, we are trying to sell our bonds, for our new debt, they hold our old debt.

They're saying, hey. Anybody want to buy this debt? Because I have to sell it. Fire sale. What do you give me for it?

Okay?

Which makes that debt more attractive, because they can get a better deal there.

Which means, if we want to have new debt, we have to raise our interest rates. Which means, we pay more for interest for our mortgages and everything else.

And it floods the market with bonds, crushing the prices, skyrocketing the costs for us.
And causing even more trouble, in other countries, that have US bonds. Because they start to look and go, nobody is buying these bonds.

Well, of course not. You have two countries. The two stablest countries besides Germany.

You have the two stablest countries now selling US Treasury bonds.

Okay? Really, really bad.

Now, let me add this on.

Germany is now having to pay for their own army.

And so they said, they're going to borrow money.

To build the army.

And they're going to lower their interest rate. So they can borrow more money. All right?

And now, the German bund, which is -- you know, like our Treasury. That's now starting to fall apart.

Well, Germany has some assets, they can sell.

What do you think that asset might be that they want to sell?

US treasuries.

We have been playing an extraordinarily horrible game.

This is why I believe the president wants somebody else in charge of the Fed, because the Fed can say, we're lowering the interest rates.

Because he's got to get more money into the system. So people can spend money, can start businesses. Borrow money.

Get things moving, so we can increase the amount of taxes that we collect.

The more people money -- the more people make, the more taxes we collect.

So he's like, we've got to grow the economy. And the only way we can grow the economy is to lower the interest rates.

But at the same time, interest rates around the world because of what's happening with the bonds is going through the roof.

We are in a very -- we've never been in this position before.

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