The Fed is pushing America dangerously close to socialism

Last Monday, the Federal Reserve began its latest round of "quantitative easing," through which "at least" $700 billion will be pumped into the U.S. economy in the hopes of limiting the economic damage imposed by the spreading coronavirus.

And that's just the beginning. The Fed also lowered interest rates down to 0, and it has already signaled it could expand these efforts in the months to come.

Further, the White House and much of Congress is frothing at the mouth to impose a new "stimulus" package that could end up costing $1 trillion. (Yes, you read that correctly. That's "trillion" with a "t.")

America's monetary system is ridiculously complex, to say the least. Trying to understand every action by the Fed is sort of like attempting to solve a Rubik's Cube while blindfolded. And drunk. And underwater.

But don't worry about drowning to death. The idea behind quantitative easing is simpler than it appears at first glance.

In times of an economic crisis – you know, like when a killer virus from China sweeps across the world – regular folks like you and me get really worried and start saving our money in anticipation of future economic problems. Investors, corporations, and just about everyone else also become terrified, and start preparing for tough economic times, slowing or even reversing economic growth.

In an effort to get America's economic engine roaring again, the Fed, the central bank for the United States, effectively creates money out of thin air and uses that "cash" – which is really just numbers on an electronic spreadsheet – to buy assets so that more money finds its way into the hands of bankers, investors, and maybe even eventually average Joe's like you and me.

The Fed believes that if people have more money, they'll spend it, and we'll all be better off as a result.

The Fed believes that if people have more money, they'll spend it, and we'll all be better off as a result.

If this sounds way too good to be true, that's because it often is. Inventing money purely for the purpose of incentivizing bankers, investors, and consumers to spend cash when they know it's probably not a good idea to do so creates all sorts of negative repercussions and eventually causes more economic crises. (If you're looking for a good example of a Fed-inspired economic crash, look no further than the 2008 financial crisis.)

Introducing trillions of new dollars into the economy can also create inflation, devaluing dollars and encouraging consumers to spend as quickly as possible, rather than save, introducing lots of additional economic distortions.

That doesn't mean there aren't extremely rare times when reasonable people might think such policies make sense. Heck, I'm not even trying convince you that this particular crisis doesn't justify action on the part of the government. All I'm hoping you'll get from this article is that these actions, coupled with the frivolous monetary policies utilized by the Fed over the past two decades, pose substantial risks – not only to our economy, but to our freedom.

This article isn't really about quantitative easing or the absurdities present throughout the U.S. monetary system. It's about socialism. Because as difficult as it might be for some to believe, if we continue down this road of printing a seemingly endless amount of cash to solve all our problems, socialism is exactly where we're going to end up – a reality Glenn Beck expertly explains in his newest book, Arguing with Socialists, which will be available everywhere books are sold on April 7.

As Glenn notes, whatever the intentions are of the folks running the Fed, one of the primary effects of their decision to pump trillions of dollars into the economy is that it gives significantly more power to the national government.

The U.S. federal government is broke – and when I say "broke," I mean living in the dumpster behind the Chinese food restaurant broke. At last count, the federal government is already $23 trillion in the hole. It doesn't have any money to buy toilet paper for government buildings, never mind enough to spend tens of billions of dollars to bail out airlines.

So, how does Congress do it, then? The simple answer is that the federal government steals – eh, I mean taxes – trillions of dollars from hardworking Americans and then fills in the rest by issuing bonds that the Federal Reserve happily buys with the money it prints, money that is backed by nothing more than the "full faith and credit" of the very same government issuing the bonds in the first place. (Suddenly, Charles Ponzi doesn't look so bad, huh?)

The federal government then burns through the cash by expanding and adding government programs – including stimulus packages – it can't afford. This cycle repeats year after year after year, allowing the government to get progressively bigger and more powerful.

As we all know from personal experience, the government doesn't fly over every state dropping bucketloads of the cash it gets from the Fed out of helicopters. It selectively chooses who is worthy of receiving money and who isn't. Or, as conservatives have often said, it "picks winners and losers" by favoring some groups, corporations, industries, and ideas over all others.

When the federal government is small, the problems this crony system can cause are relatively limited. But as the government expands significantly, which has only been made possible thanks to the Federal Reserve, it ends up consuming whole industries and gigantic portions of the economy and society. (Note that without the Fed inventing money, single-payer health care would be completely impossible to achieve absent other significant cuts to government spending.)

As the government expands significantly... it ends up consuming whole industries and gigantic portions of the economy and society.

A country with a conservative central bank could theoretically ensure its nation's government is acting responsibly, but America's central bank has proven that it's anything but conservative. In fact, it seems hellbent on ensuring that the power of the Federal Reserve and the federal government is expanded significantly.

As Ron Paul noted recently, "Boston Federal Reserve President Eric Rosengren has suggested that Congress allow the Federal Reserve to add assets of private companies to the Fed's already large balance sheet," a move that would give the Fed direct control over the economy.

Another way the Fed moves America closer to collectivism is by socializing the cost of money and savings. When the Fed introduces trillions of new dollars into an economy to spur demand, rather than as a reaction to market forces, it devalues everyone's currency, discouraging people from saving.

And the mere ability of the Fed to manipulate the currency whenever it pleases is in and of itself a form of socialism, because it ultimately gives the Fed's Board of Governors (a government agency) huge amounts of power over the entire economy, including setting the price of just about everything indirectly.

If we continue down this dangerous path, it's only a matter of time before we have full-blown socialism in the United States, especially since it seems unavoidable that crises like the one we're facing today will continue to be used as a justification for further power-grabs. (Just imagine how many trillions of dollars a Democratic president in the White House would say are "desperately needed" to stop climate change from wiping out humanity!)

This all might sound like a tin-foil-hat conspiracy, but it's not. As Glenn explains in detail in Arguing with Socialists, many of the nation's leading progressives and democratic socialists are big supporters of a fringe economic idea called Modern Monetary Theory, which directly calls for the Fed to print whatever amount of money the national government needs to control the economy. Debt and deficits don't really matter, they claim.

This theory has been fully adopted by politicians like Bernie Sanders, who made Stephanie Kelton, one of the world's leading MMT theorists, the chief economist for the Democratic members of the U.S. Senate Budget Committee. Sanders also named Kelton a senior economic adviser to both his 2016 and 2020 presidential campaigns.

This is what twenty-first century socialism looks like. The national government isn't going to go door to door confiscating homes and businesses and throwing people into gulags – well, at least not at first. It's much easier to have a central bank like the Fed control the currency and bankroll a national government's takeover of the economy through a never-ending stream of new government initiatives, bailouts, and massive services.

Justin Haskins is editorial director of The Heartland Institute and the editor-in-chief of StoppingSocialism.com.

To learn more about this topic, and just about any other related to socialism, be a good capitalist and pre-order Glenn Beck's Arguing with Socialists today.

'Bye bye Liz Cheney': Donald Trump Jr. EASILY triggers liberals​​​​​​ with just one silly tweet

(Left) Photo by PATRICK T. FALLON/AFP via Getty Images/ (Right) SAUL LOEB/AFP via Getty Images

Donald Trump Jr. celebrated Wyoming Republican Rep. Liz Cheney's humiliating defeat in her state's GOP primary by releasing a 30-second video that was clearly intended to trigger the Trump-hating liberals on Twitter — and, naturally, it worked like a charm.

Rep. Cheney was defeated by Trump-backed challenger Harriet Hageman on Tuesday in the Republican primary for Wyoming's at-large congressional district.

Don Jr. took to Twitter to poke fun at Cheney's loss by posting a video montage of his father, former President Donald Trump, dancing with the caption, "Bye bye @Liz_Cheney. On the bright side at least you won’t have to pretend to be from Wyoming anymore."

Hoo boy, talk about kicking the hornets' nest. The reactions on Twitter were so predictably full of vulgarity, name-calling, and low-brow insults that we can't share most of them here, but you've seen it all before.

Don Jr. has had an interesting couple of days on Twitter. Just yesterday he was actually vindicated by fact-checkers (yes, you read that right) who called BS on a widely circulated but completely fabricated tweet that made it look like he was bashing his father's supporters.

Don Jr. joined Glenn Beck on the radio program Tuesday to weigh in on the FBI’s Mar-a-Lago raid and explain why he believes the Justice Department targeted his father and pedaled lies to justify it. He also gave his advice on what conservatives can do to peacefully and lawfully stand up against a system that's ignoring their rights.

Watch the video clip below. Can't watch? Download the podcast here.


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ATF agent caught taking photos of gun-buyer personal info — insists she's definitely NOT 'creating a registry'

Image source: (Left) Video screenshot/ (Right) Samuel Corum/Anadolu Agency/Getty Images

Black Metal Firearms owner David Nagel originally recorded on video an ATF inspector taking pictures of his company’s documents to show what the gun industry is up against in the current political climate, but what he caught on camera has now gone viral.

Nagel joined Glenn Beck on the radio program to reveal exactly what happened the day he captured the shocking video, the threats made by that ATF inspector against his regular customers, and the insults she hurled toward all gun owners.

According to Nagel, Bureau of Alcohol Tobacco, Firearms, and Explosives Industry Operations Inspector Pamela Scott began conducting a routine review, but things quickly went sideways when she started taking photos of the shop's detailed sales records — including the identities of every gun buyer.

Nagel said he confronted Scott and even asked if she was "creating a registry," by collecting the personal information of his customers.

"No, that would be illegal," she allegedly answered.

That's when Nagel decided it was time to capture Scott's actions on video.

"We had quite a bit of recording," he told Glenn. "But a lot of it, we were not able to share because there was personal information visible in it, you know, contact numbers and things of that sort. So, we didn't want to put [all of the video] on blast."

The little bit he did "blast" out on Instagram garnered tens of thousands of views and received a wide range of both outrage and support.

Nagel went on to explain how Scott responded when he told her his customers would not be comfortable with her collecting their information.

"She said, 'well, it sounds like your customers are just being paranoid. Maybe I should look into them a little bit more.' Which I thought was really creepy," Nagel said.

"That's a threat," Glenn stated.

"And she said, 'you have a few gun nuts in there.' And I politely corrected her. I prefer gun enthusiasts. And she said, 'no, they're nuts,'" Nagel told Glenn. "That was a kind of backhanded way of describing the average American. Because, if we're all nuts, then what are you governing us for?"

Watch the video clip below to catch more of the conversation. Can't watch? Download the podcast here.

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A video has been making the rounds on social media that appears to show Florida Gov. Ron DeSantis (R) telling Fox News host Sean Hannity and Lara Trump that the FBI search of former President Donald Trump’s Mar-a-Lago home was “not a raid.”

The video, which has been viewed more than 3.5 million times as of this writing, was captioned "Ron DeSantis went on Hannity and things got SPICY." The (very badly) altered video inserted footage of DeSantis at a 2020 press conference to look like he was correcting Hannity's use of the word "raid" to describe the recent Mar-a-Lago debacle.

“It’s not a raid. With all due respect. It was not a raid. They were serving valid process in accordance with the laws and Constitution of the United States and the state of Florida. They did it with integrity. They did it with honor. And to say it’s a raid is disinformation," DeSantis says in the video, kicking off the alleged "spicy" back and forth.

Both Reuters and AP News have issued fact-checks to debunk the doctored video, because apparently people on Twitter can't decern the extremally, blatantly, painfully obvious alterations for themselves.

Did people really not notice that Hannity is stuck in a weird time loop that makes him appear to be suffering some sort of seizure? Or the way Lara's face is frozen mid-blink? Or how about DeSantis' beyond-even-the-world's-worst-mouth-breather default position when Hannity is speaking? And if none of that clued folks in, surely the crazy chyron would do the trick, right?

Maybe not.

DeSantis' then-press secretary Christina Pushaw (who just resigned from her job as press secretary to work as the rapid response director for the governor's re-election campaign) had to step in to set the record straight.

Gov. DeSantis joined Glenn Beck on the most recent "Glenn Beck Podcast" to talk about the unrelenting leftist and media attacks accusing him of tyranny, and scaremongering about how he'll "kill" our "democracy."

DeSantis is unafraid to call out their lies and keep Florida on the front lines for freedom. When Disney tried to protest his Parental Rights in Education law, he stood his ground — and won. He did the same with CRT and woke prosecutors.

Now gearing up to take on ESG.

In the video clip below, he details what his state has already done, what the legislature is preparing to do, and why he's calling on other states to join in his anti-ESG battle: "If we pooled our voting rights together, we would be able to counteract what California and New York and a lot of these other pension plans are doing."

Watch the video clip below or find the full episode here. Can't watch? Download the podcast here


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'Like Hunter Biden without the hookers': Why did Nancy Pelosi's son REALLY join Taiwan trip?

Photo by (Left) Anna Moneymaker/Getty Images (Right) I-Hwa Cheng/Bloomberg via Getty Images

Nearly everyone, from President Joe Biden to the head of the United Nations, agreed that California Democrat House Speaker Nancy Pelosi's trip to Taiwan was dangerous. Even former President Barack Obama's ambassador to China, Max Baucus, said Pelosi's actions made Biden look even weaker than he already does — and that's really saying something.

So, why did Pelosi risk global war and go against her own party? If you listen to Politco, she's got a "decades-long" beef with China and just wanted to show support for the Asian nation, but the timing of her trip suggests there’s likely more to the story.

On "Glenn TV," Glenn Beck exposed the Pelosi family's (including her son) lucrative connections to Taiwanese companies and revealed how certain business deals directly related to their trip to Taiwan.

"Nancy Pelosi and her husband and their son ... they love money as a family. By the way, did you know her son went on that trip and was doing business with, oh, wow, some of the people she was meeting with? Did you know that?" Glenn asked. "Sounds a little like Hunter Biden without the hookers and the crack."

Glenn pointed out that when Pelosi was elected to Congress, "somewhere in the late 1700s," her net worth was about $3 million, but by 2008 her family's wealth had ballooned to $31 million. By the end of the Obama term, her wealth had doubled to $61 million, and just two years later it shot up to $114 million.

"Wow! That is not bad beans for a meager public servant. They [Pelosi and her husband] must be master investors and it just took getting elected to public office to truly unlock that secret," Glenn quipped. "Or they were privy to some sort of information that the rest of us don't have access to, kinda like the sale of $5 million in computer chip stock before Congress voted on a recent semiconductor bill," he continued.

"But, surely, Taiwan has nothing to do with their own little private cash machine, right? ... I'm sure it had nothing to do with her husband's stock trading of companies that make computer chips. And it has nothing to do with, at the same time, Nancy is working on a semiconductor bill. It surely has nothing to do with the fact that the largest semiconductor manufacturer, TSMC, is right there in Taiwan, right? I mean, surely, with all of this heat, Nancy Pelosi would be smart enough not to be seen anywhere near Taiwan's semiconductor manufacturers," Glenn said.

"I'm not saying this might double the Pelosis' millions again, but I'm not not saying that either, you know?" he added.



On the radio program, Glenn continued to break down the hushed business deals between the Pelosi family and Taiwanese companies and revealed how it all directly relates to their not-at-all suspicious trip to the Asian nation.

Watch the video clip below to hear more from "The Glenn Beck Program." Can't watch? Download the podcast here.

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