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.

What is actually in Texas' new GOP-led voting bill? Nearly every Texas House Democrat fled the state to block its passage, calling it racist and oppressive, and President Joe Biden backed them as well.

But Texas Gov. Greg Abbott (R) joined Glenn Beck on the radio program Friday to set the record straight and call out the lies: All of these claims are "completely false." He also explained his promise to "arrest" the Texas House Democrats when they return to the Lone Star State.

"What is in the bill is completely different than what they're saying, what Kamala Harris is saying, what President Biden is saying. What's in the bill actually increases the number of hours that people have to vote in the state of Texas. In the state of Texas, we have at least 12 days of early voting, and we are adding hours to those days. And on top of that, we are giving people time off from work to be able to vote. Bottom line, we're making it easier to vote in the state of Texas," Gov Abbott explained.

"In comparison, Delaware — the state that President Biden votes in — has exactly zero hours of early voting," he added. "That said, there is one thing that we're doing in the state of Texas, and that is we're making sure we tighten the reins on mail-in ballots that can lead to voter fraud. And it's not me saying that. It's a federal judge, appointed by Barack Obama, in Corpus Christi, Texas, who wrote in a legal opinion that voter fraud occurs, quote, in abundance as it concerns mail-in ballots. We know. Texans know. There is fraud in mail-in ballots in the state of Texas. It must be fixed. That's one thing we're trying to do. That being said, all these claims that we're denying people the right to vote and yada, yada, yada, are completely false."

Abbott went on to discuss the much-debated voter ID laws in Texas and to explain why Democrats insist on calling basic voter ID requirements "racist."

"When Democrats do not have truth on their side, they resort to one single word and that is 'racism' ... Texas implemented voter ID almost a decade ago, and when we went through that fight, what word did they use? Racism," he said. "Guess what? After Texas imposed voter ID requirements in the state of Texas, there have been more people voting and more people of color who went to vote. Voting didn't get harder. It got easier and more abundant in the state of Texas. And so, once again, Democrats have absolutely no legal standing, other than to say, 'racism.'"

Glenn asked Gov. Abbott to explain his pledge to "arrest" the Democratic lawmakers that fled once they return to Texas.

"Let me explain how this works. So, whenever there is a break of quorum, which is what is happening now — meaning there is not a sufficient number of people who are showing up to the Texas House of Representatives for the Texas House to engage in business. Whenever there's a quorum break like that, the House issues what's called a 'call on the House.' And when that happens, the sergeant-at-arms is authorized to work with the Texas Department of Public Safety, to — you can call it arrest, apprehend, whatever you want to call it — any of the members who are not in the Texas House of Representatives and bring them to the Texas House where they will be 'cabined' with no ability to leave the Texas House chamber, without a permission slip from the speaker."

Watch the video clip below for more details:

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Our Fourth Amendment, which protects our right to privacy, has never been in more danger. Journalist Lara Logan joined Glenn Beck on the radio program Thursday to explain how the digital world has given leaders — both in government and corporations — the ability to not only spy on Americans, but to track their patterns of behavior, too.

Lara explained why, even if you think you have nothing to hide, you should be very concerned. Because these digital "human terrain maps" could be used to manipulate you in any way those in control see fit.

"The purpose of your privacy is much more than just being out of public view," Lara said. "There is really nothing that's more central to our democracy than the right to privacy. I mean, all of the rights in the Constitution have a real purpose, and a real value, and if we allow people to take them away from us, we voluntarily are surrendering that. We are lambs to the slaughter.

"They're not just looking at what you have to hide. They're looking to manipulate you into doing what they want. These are control systems. That's what they are," Lara explained. "What they do with the information is they create a 'human terrain map' for every single person on the planet, anyone within a digital signature or within their reach. They are creating a human terrain map that can be used against you, by anyone."

Watch the video clip below for more details:


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Who were the people and groups involved with coronavirus research, and what really went down before and after the pandemic began? On "Glenn TV" this week, Glenn Beck heads to the chalkboard to outline a tale of negligence and then, coverup. The elites of the world - the people calling themselves experts - trusted the Chinese Communist Party with one of the most dangerous weapons we can imagine on this planet--a virus.

Glenn reveals who was involved in a definitive timeline, and argues: If proof of a lab leak does come out, the worlds needs to know EVERYONE that was involved. We must expose the coverup and attempt to control the narrative of the pandemic origins. Everyone from Big Tech, the media, the Chinese and even our own government have been involved. What lies behind the coverup could reveal the dirty secret that, in order to cut corners, the academic elites and government entrusted Communist China with a civilization-killing virus.

Watch the full episode below:

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BlazeTV host Mark Levin said his new book, "American Marxism," provides proof that we're not just facing a coming Marxist revolution — it's already here.

Many Americans remain unconvinced, believing recent moves from the far left and the Democratic Party are just passing phases. But this is not a "fad," Levin told Glenn Beck on the radio program Tuesday.

"This isn't progressivism, or social activism, or democratic socialism. This is Marxism. Now, it may not be Marxism in every particular. But it's an Americanized form of Marxism," Levin explained.

"You need to pay attention to what's taking place ... You've seen it with your own two eyes. You saw the riots all summer long. You saw Black Lives Matter, which is headed by an openly proud Marxist. You see Antifa, which is a Marxist anarchist organization. You see the media, that you have been watching and reading, endorse every single one of these movements," he added.

"People have been brainwashed, or ... haven't been paying attention. They view this as a passing fad," Levin went on to say. "It's not. We all need to wake up to this. And if we have little differences, moderate Democrats, Libertarians and so forth, you better put them aside right now. Because we have a common enemy. I say enemy, not opponent. Not adversary. Enemy. And we need to be focused on defeating that enemy, rather than fighting among ourselves."

Watch the video clip below to hear Mark Levin explain how our individual freedoms are in serious jeopardy:

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