Glenn Beck - Gingrich: Paulson ought to be fired


Drill Here, Drill Now, Pay Less: A Handbook for Slashing Gas Prices and Solving Our Energy Crisis

GLENN: Let me go to Newt Gingrich. Newt, I haven't -- I'm sorry to say I've been busy doing my own homework today on the ins and outs of all of this stuff. I don't even know where you stand on this bailout bill. Please, dear God, tell me you're against it.

GINGRICH: I'm not sure if I were in the congress I could vote against it. I think -- I mean, if I was the deciding vote, I think a lot of people will vote against it, but I have been talking to people who I respect in the business community who genuinely believe we're on the edge of a meltdown of just historic proportions comparable to the 1920s.

GLENN: Okay. I agree with you on that. And Newt, I've been saying for a long time, this is coming. I believe even with this bailout, it is coming. Can you -- have you heard any of these experts guarantee or give you a good sense that this bailout will stop that from happening?

GINGRICH: No. Let me be clear. I'm about as unhappy as anybody you know. I think that Secretary Paulson ought to be fired. I think this bill has been improved significantly by McCain and by the House Republicans but it is still a bad bill. But I also believe if you have a Democratic congress that the odds are pretty good that none of the things you really need to get done are going to get done. What we ought to be doing is repealing Sarbanes-Oxley which has become a huge mess, we ought to be going to zero capital gains tax. We ought to be reducing the American corporate tax to match Irelands 12%. There are a lot of things we could be doing. We should be controlling spending. We should have an energy bill that is decisive in bringing home most of the $700 billion a year we're sending to foreign countries, many of them dictators opposed to us. I've written a recent book, Drill Here, Drill Now, Pay Less. We have a movie which illustrates the maddening reality that we have more than enough energy in the U.S. and that it is our political system and our government which is blocking us from developing our own energy. So I mean, if you are asking me how big do I think the changes need to be, beyond the capacity of any of these folks who are currently engaged. I think we the American people are going to have to rebel to such a degree that you may well have a third party by 2012 because I just think the sickness of watching the system and the degree to which the Bush administration has failed is historic.

GLENN: Here is the problem with the bill as I see it. It includes a provision that is bailing out the union pension funds, it's bailing out cities, it's bailing out states. It allows the treasury secretary to expand this in any direction he feels is necessary. It also goes -- I mean, it goes right to the heart of capitalism. And Newt, I have to tell ya I last week came out and said we are going to slam into the side of a mountain economically and we have to have a bill because it will at least take the plane down and land it in the trees. We're not talking about landing on the runway. We're talking about landing in the trees. But Newt -- 

GINGRICH: I think that's exactly right.

GLENN: But this bill, I can't support this bill.

GINGRICH: No.

GLENN: It is cutting the heart out of capitalism.

GINGRICH: Look, I don't think you should support this bill and I'm not advocating anybody support this bill. What I am saying is that under our constitutional system you occasionally get to moments when you get to choose between two really bad futures and you wish you had had better leaders and you wish they had gotten you to a choice of a good future, and the fact is this morning we're in a place where we don't have a choice of a good future. We can do nothing, which is what would happen if the bill goes down. And I think as long as Paulson is the treasury, his arrogance, his background as the chairman of Goldman Sachs makes it impossible to get to a good bill and I can't imagine a circumstance where Bush is going to fire him. So we as a country are trapped by a secretary of the treasury who is adamant about aggrandizing his personal talent. On the other hand you have liberal Democrats who frankly wanted a much worse bill. They wanted to give billions of dollars to left wing activists.

GLENN: ACORN. I know.

GINGRICH: So finally you get to the least bad bill. Notice I have not once used the word "Good." I have not used the word "Mediocre." This is the least bad bill. And the question is if you are prepared to take a gamble that all of the people who are knowledgeable who say that on a worldwide basis we're on the edge of a credit catastrophe which could well lead to a fundamental meltdown of the system. I had two friends over the weekend who are both extraordinarily wealthy, neither of whom cares about the market. They don't make their money in the market. Both of them said to me -- and both of them have -- one has 53 years in business and the other has over 40 years in business and they both said to me, "That is genuine crisis. This is not politics. This is not let's play games with the margin. If we don't send some signal to the world market, we're going to have a credit crunch of 1929 to 1932 proportions."

GLENN: Newt, I have to say to you, you're exactly right. I happened to be with a billionaire this weekend. I was doing a charity thing. This guy is a multibillionaire. Doesn't care about the stock market, either. I mean, he's 73 years old. Doesn't -- I mean, he's the same kind of guy you talked about. And I can't believe that your guy didn't tell you the same thing I did. Because that conversation happened with me, too. This is a genuine crisis. This is quite possibly the biggest crisis the country has ever faced. However, if you don't have the tools of capitalism, if you take this country and you fundamentally change what the treasury and the government is doing and can do, you may never pull yourself out because the market -- the signal that the market wants to see is that business is stable in America, and this congress and this treasury being hands-on, fingers in the pie, you never know when it could expand does not send them the message to the market that we're stable. Does it?

GINGRICH: No. But the notion of the American system which has been deeply driven by partisanship locks up, may send a signal of instability on a scale that you and I can't comprehend. And all I'm saying is -- 

GLENN: I don't think anybody can.

GINGRICH: Right. All I'm saying as a historian is having been speaker of the House, having been through these gut checks on 10 or 15 occasions, if I were a back venture, I would almost certainly vote no because this is disgusting. But if I were in leadership and having been in leadership and I looked at the down side risk, I would say I'm going to do everything I can to get rid of Paulson, I'm going to do everything I can to get an economic growth package, I'm going to do everything I can to get an energy independence package, but I am not this morning going to walk off and not have this pass because I'm not prepared to live for my two grandchildren with the consequences if, in fact, the system collapses. And while this may be an inadequate Band-Aid, it is a Band-Aid and it is a step. And we may have to come back and take four more steps before the election. I mean, nobody knows what the next two weeks are going to be like and the congress should not go home. The congress needs to understand that this is a real historic moment and we can't afford to hang around and pretend it's politics as usual.

GLENN: Do you fear for your country?

GINGRICH: Yes. Absolutely. I think anybody who believes in a free country and anybody who believes in the system that gradually emerged with the United States as the primary defender of the world market, of freedom around the world and of safety around the world, you have to look at where we are today, and we just did an entire workshop on Saturday called American Solutions. It's our second annual Solutions Day workshop and people can see it at Americansolutions.com. And I founded American Solutions because I don't think either party is up to what we have to do.

GLENN: No.

GINGRICH: I'm very, very worried about where we are.

GLENN: Is this bill going to pass?

GINGRICH: Probably -- yeah, I think it passes in the end for the reason the conversation you and I are having which is the last marginal member who could vote no is going to stand there and say to themselves am I prepared to take responsibility, even if it was a disgusting bandage. And I think they say I hate doing this, I'm going to help pass it and then I'm going to fight like crazy to clean up the corrupt arrogant system that has put us in this position.

GLENN: All right. Newt Gingrich, thank you very much, sir.

GINGRICH: Good talking to you, sir.

GLENN: You bet. Bye-bye. I feel exactly the same way he does but I cannot put diseased bandage back on. I can't look at the doctor who had -- who gave me the disease in the first place, to say put this disease bandage back on your leg. It's insanity. It's insanity. But that's why I said to you at the beginning of the program, please, you must make this decision. You must make this decision, and you must make this decision -- do not pick up the phone and say don't, don't pass this bill without understanding the ramifications of this. I believe we now are talking about it one way or another. We are talking about 1929. We are talking about the Great Depression and we are talking about the possibility of it being worse than that, a 1989 style Soviet collapse. This is the moment that Americans need to become the greatest generation of Americans. You must stand to the plate, for the future generations of Americans to exist. You must be involved.

A Russian submarine equipped with a “doomsday weapon” — a nuclear bomb that Russia claims can create a "radioactive tsunami" — has apparently vanished from its base in the White Sea, according to reports.

NATO has reportedly warned that the "Belgorod," a massive nuclear submarine, has "gone missing" from a Russian base in the Arctic Circle, and officials are concerned that Russia could be gearing up to test its advanced weapon system known as "Poseidon" or the "weapon of the Apocalypse."

Meanwhile, the U.S. Navy's newest aircraft carrier, the USS Gerald R. Ford, has suddenly been declared combat-ready after years of setbacks, technology issues, and delays.

On the radio program Tuesday, Glenn Beck detailed just how powerful Russia's "missing" submarine really is and broke down how these "coincidental" current events mirror those that led up to World War II.

"It's really not a good thing ... but the world has gone through things like this before," Glenn said. "In the end, after it's all over, good things can happen. You just gotta get to the other side."

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

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

Did the FBI just get away with the BIGGEST armed robbery in US history?

Photo by Joe Raedle/Getty Images

In 2021, an armed group broke into a U.S. Private Vaults store in Beverly Hills and stole $86 million worth of valuables — the largest armed robbery in U.S. history. That "armed group" was the FBI. Now, it appears that the FBI and U.S. attorney’s office in Los Angeles "misled" the judge who signed the warrant for the seizure and still haven't returned the stolen goods to the 700 customers affected, according to newly disclosed court filings.

The details of the government’s alleged deception have come to light in a class-action lawsuit by U.S. Private Vaults customers who say the raid violated their rights, the Los Angeles Times reported. The FBI and U.S. attorney’s office denied misleading the judge, and a spokesperson claimed the warrants were lawfully executed.

On the radio program, Glenn Beck and producer Stu Burguiere reviewed some of the shocking story's details and discussed why incidents like this may become more common.

"None of the customers have been charged with any crimes. Not a single customer, out of the 700, not a single customer has been charged with a crime, but they can't get their stuff back," Glenn noted. "And this is going to happen more and more."

"It's incomprehensible that this stuff goes on in the United States of America," Stu said. "If you were to tell me this happened, you know, in Russia, I'd expect it. The fact that the United States government is claiming and just taking stuff from citizens all around the country with no crime, many times without even being charged, let alone ... conviction."

"Listen to this," Glenn continued. "The lawsuit also claims that some of the box holders who came forward to reclaim their seized property were then subjected to another investigation. If you went to the FBI and said, 'I want my stuff back,' the FBI examined their bank accounts, their DMV records, their tax return, and any criminal history checks."

However, box holders who decided to forfeit their property were also suspected of trying to "avoid becoming an FBI target," Glenn noted.

"So, you're guilty if you walk away and you're guilty if you ask," Stu added.

"This is America, gang," Glenn said. "It doesn't seem like it because it's not a constitutional America. But this is the America we now live in, and it is important that you wake up and stand up. ... God's people have got to start standing up, or we'll lose freedom. The world's freedom will be on our heads."

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

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

Glenn Beck: One TERRIFYING thing is clear no matter who caused the Nord Stream pipeline leaks

Photo by Danish Defence/Anadolu Agency via Getty Images

Evidence strongly suggests that the Nord Stream pipeline leaks were the result of sabotage, and U.S. and European officials have been working to discover who could be behind the explosions that damaged the natural gas pipelines running from Russia to Germany under the Baltic Sea.

Was it Russia? Ukraine? Germany? But no matter who carried this out, it has put the entire world in grave danger, because if this is indeed an attack, it means that non-military key infrastructure outside Ukraine is now on the "target menu," warned Glenn Beck on the radio program.

"It is so important for you to understand, this is now a non-military key infrastructure that has been destroyed," Glenn explained. "If Russia thinks we did it, they've already said, 'Nukes are now on the table.' That gives us a green light to use nukes," he added.

"This is non-military key infrastructure outside of the borders of Ukraine. To date, as far as we know, combat targets were either in Ukraine, or were military targets hit inside of Russia by Ukrainian Air Force or special forces. But the target menu now includes key civilian infrastructure: electricity, water utilities, energy production. That makes Russia more dangerous than ever. And that would be true no matter who carried out the attack," Glenn stated.

Now, the Russians are saying the Unted States did it, and the U.S. is saying it was Russia. But no matter who carried out the attack, "We are facing a Cuban Missile Crisis," said Glenn.

"This could end up being the biggest story of our lifetime and ... if it isn't played calmly by every side, this could be World War III," he continued. "Russia has already said that this gives them the right to use nuclear weapons as soon as they find out for sure who did it. That would be catastrophic, absolutely catastrophic."

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

Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

The White House can try to spin inflation all day long (and it's trying very hard). But you feel the effects of President Joe Biden’s disastrous leadership every time you go to the grocery store or fill up your car. The American economy is on the brink of disaster after less than two years of a Democrat-controlled Congress and White House. And they’ve got plenty more destruction in the works.

The bottom line is they WANT you to get used to a lower living standard. So, what do you do? How do you prepare? What will food and fuel cost in the months ahead? What would the next Great Depression look like? How are you going to feel the effects of ESG and the Left’s war on oil?

On Wednesday night's "Glenn TV," Glenn Beck brings in a panel of economic experts to answer those questions. He’s joined by Carol Roth, former Wall Street investment banker and author of “The War on Small Business,” and Jim Iuorio, a small business owner, stockbroker, and managing director of TJM Institutional Services. While both forecast the worst-case scenario for average Americans, they also offer a glimmer of hope to get us out of this mess.

Watch the full episode below:


Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.