Interview with Neil Cavuto



GLENN: 888-727-BECK. I can't say that he's a friend of mine. I would like to say that someday I can call him a friend of mine. Neil Cavuto, one of the straight-up good guys on the planet today is a guest on the program here. Hello, Neil, how are you?

CAVUTO: Hey, Glenn, I'm calling you a friend. I'm just running with it. So I mean, it's working for me.

Neil Cavuto, Sr VP, Anchor & Managing Editor, Business News

FOX Business Network

GLENN: I am as well. I have to tell you, Neil -- well, first let me get into the business of the day. I wanted to have you on because I'm not a real optimist on the economy. I am a guy who, I believe in America, I believe in capitalism. You know, I'm a Ronald Reagan guy, I really am. However, I think we're facing a real storm of things that are all starting to come together that are just going to be a real problem for us if we don't make all of the right moves or if there's any additional pressure put on your economy and I've been warning, look out, look out, this stuff with the banks and liquidity is a real problem and everybody is in denial on it, everybody's being, you know, oh, Glenn, you're being Chicken Little. I don't think I am. I didn't want to get somebody who's more pessimistic on the economy than I am. I wanted to get an optimist on. Explain what is going on now with the world's central banks doing something they never do. The last time they did this, correct me if I'm wrong, was after September 11th.

CAVUTO: That's right, that's right. You're right to be concerned about what could happen. I'm equally concerned about the moves, Glenn, that could make things much worse. I'm not in the camp, Glenn, that says all mortgages are melting down. I'm not in the camp that says we've got housing -- because I also look at all the numbers and I realize that 95% of mortgages are being paid each month, month to month on time and that even among sub prime mortgages, Glenn, close to 9 out of 10 of those are being paid on time.

GLENN: Right.

CAVUTO: So having said that what I worry about is the perspective that some in Washington lack and for the bulk of the few who aren't paying their mortgages -- and it's a record few. I don't want to minimize it. We are going to make things worse for the overwhelming vast majority who are. That's where I share your concern because Washington in its infinite wisdom could really complicate this. They could set up programs and the like to bail out homeowners and lenders that for years, for decades to cut a freeze on housing, but you must, must, must be careful of that.

Now, I also worry when central banks around the world get together and throw in a lot of money to short the banking system because what effectively they are doing, Glenn, is trying to encourage lending or provide the money and the reassurances effective there so people can lend. People have to take the lump on that. You can't force someone to spend their money. You can't -- although my wife says it's relatively easy to do. You can't force that issue. So now we have to see whether banks respond to this sudden flood of money coming in.

GLENN: Okay. Here's the thing that I am concerned about. It is -- the reason why, and please correct me where I'm wrong. The reason why they are trying to free up more money is because these banks are -- a lot of it is fear. They have to make sure that they can cover anything that might go bad and so what they're doing is they are cutting back. It's harder and harder to get short-term loans which are like 30-day loans to where if I've got some vegetables that need to get to market, I usually go to my bank and I say, hey, you know, I need the loan. 30 days it gets to trucking, to move things here and there. And that money is drying up. And when you dry up that money, then you've got a real problem. When businesses can't get that 30-day loan, am I right on that?

CAVUTO: Well, I think stepping back from this, we're talking $40 billion. I know that is the pooled money that is going to be available here. $40 billion sounds like a great deal of money, Glenn. Trust me I'm not trying to minimize what's going on here. I am saying, though, we're talking about $5 trillion worth of monies available to lend. So you've thrown $40 billion into the mix to encourage people to sort of, you know, dip their toes in the water and lend either on a short, medium or longer term basis to someone else. Now, like CNBC here, I think what's going on is skittishness and the lender is skittish to lend, the borrower is skittish to borrow and these central banks are trying to get the two together. They are trying to make it less of an issue for the lender to lend and less of an issue for the borrower to borrow. I'm trying to minimize it but I think what they are trying to do is to get past the fear. That does not mean there is no money available. There's a great deal of money available. You can look in the newspaper on any day and see the deals are popping for those who can put down 15 to 20% on a home or who meet the criteria to get a loan. For those type of people, there is no shortage of loan proceeds available. But even -- the trouble is those people are the ones who are saying, you know what, I don't know, I don't know. Very smart people, very wealthy people I know are telling me, Neil, you know, I was thinking about getting that vacation home. I'm not so sure right now. So I'm holding back. These are people who can afford and put down the down payment and not pay for the whole thing in cash, but they are just leery. So I think what central banks are trying to do, what the President is trying to do in the omnibus package, you know, to help lenders to get over the help and borrowers to get over the hump is to say, guys, the water's okay, try it. The great thing we have to get past now, Glenn, is convincing people on both sides of the deal to agree.

GLENN: Well, but you also have the problem, and I'm sorry, I apologize because we are turning into CNBC here for a second.

CAVUTO: That would never happen to you, Glenn.

GLENN: But I am concerned because -- did you read Amity Shlaes' book?

CAVUTO: Yes, I did.

GLENN: Okay. We're making the same damn mistakes that we made in the Great Depression. We've got people -- we've got politicians proposing the same kinds of things that we were proposing in the Great Depression.

CAVUTO: Right. And as she points out, we historically go through this every couple of decades and we've done this with, of course, the savings and loans back in the Eighties, we've done it with Chrysler, we've done it with Continental bank. When things get tough, we look for Draconian steps. Unfortunately we do it after the animals have left the barn. So you lock the barn good, you got the double, you know, barrel shotgun outside just in case. But the animals aren't there.

GLENN: Is it --

CAVUTO: And that is what I worry about, that the cure is worse than the disease.

GLENN: Okay. I have been saying get out of debt, just get out of debt. Part of the problem with our country is our country is, you know, spending money like Paris Hilton at a night vision video store, and we've got to stop doing that. Wrong advice, too panicky advice?

CAVUTO: Well, since I'm living in a big glass house, I'm not going to take you on on that. But I think it's true. The problem when you get out of debt is the process of getting out of debt means you free spending of an economy and when you free spending in the economy, all of a sudden the --

GLENN: I've got a small enough audience, we're not going to affect the economy.

CAVUTO: I'm not so sure about that. You have a certain best seller out there.

GLENN: I'm just saying that if, for instance, you know, don't go out and -- go buy Christmas presents. Just don't put yourself deeper into debt. Just spend at your means. Buy something that's, I don't know, $26, you know.

CAVUTO: Right, right.

GLENN: Down at the bookstore.

CAVUTO: I think this is the time everyone who buys gifts, get that thing that says "As seen on TV. "

GLENN: I think you are exactly right. All right, Neil, I want to -- and I hope this is okay with you. I guess I should have asked this prior, but I have to tell you I think I have more respect for you than anyone I have ever met in television, and I know that's not saying very much.

CAVUTO: Then you must get out more.

GLENN: I know. But you are a remarkable man. Most people don't know. I mean, they know if they read your book, that you have MS. What I didn't know is that -- may I share what happens to you sometimes?


GLENN: What you may not know if you've ever watched Neil Cavuto is sometimes his legs don't work, sometimes his arms don't work, sometimes he will go completely blind during a show for 45 minutes and just keeps going.

CAVUTO: It's a highly rated show because then they know, hey, this guy seems to be freaking out.

GLENN: Right. I think it would be kind of neat if I -- I mean, you might want to play a little game, like a game.

CAVUTO: I have. People react to it. I'm like the crazy uncle at the Christmas dinner and then we just say, hey, he's really out of it, you know.

GLENN: When somebody says, oh, Neil Cavuto, he's blind as a bat, you can say, sometimes I am.

CAVUTO: Absolutely right.

GLENN: Yeah. I just have a ton of respect for you. You know, I know you have overcome so many things and you keep getting hit with things and it never, ever stops you.

CAVUTO: That's the pot calling the kettle black, my mind. I know it sounds like mutual in my society but my wife is a huge, huge, huge fan of yours and she's tickled pink to meet you on certain occasions and, man, hasn't stopped talked about it.

GLENN: I have to tell you it's a cross I bear. I apologize. I wreck so many marriages, I really do. It's just chicks dig me.

CAVUTO: You're preaching to the choir, buddy.

GLENN: All right, Neil, thanks a lot, man. I appreciate you being on. We'll talk again soon, my friend.

CAVUTO: All right. Be well.


The Senate Judiciary Committee was set to vote on subpoenas to compel Twitter CEO Jack Dorsey and Facebook CEO Mark Zuckerberg to testify on alleged censorship and bias across their platforms. But that all changed when Republican committee members "expressed reservation about the maneuver," Politico reports.

Sen. Ted Cruz (R-Texas), who chairs Judiciary's Subcommittee on the Constitution, was definitely not one of the committee members with cold feet. On the radio program Tuesday, he told Glenn Beck that he's fighting "vociferously" to ensure Dorsey and others testify before the November 3rd election.

"Jack Dorsey and Mark Zuckerberg are both going to testify. They're are going to testify in person. They're going to testify before Election Day. That's what I think should happen," Cruz said. "That's what I'm fighting vociferously to happen. Right now, the companies are negotiating with the chairman's office to discuss terms to come voluntarily. I don't give a damn whether they come voluntarily or under subpoena. They need to testify in person and answer questions for the American people about why they are trying to steal this election, to suppress the free speech, and to censor the press."

The subpoenas would require Big Tech leaders to testify on the alleged "suppression and/or censorship" of two consecutive blockbuster stories from the New York Post. The first story was about emails that allegedly came from Hunter Biden's computer which are currently being investigated by the FBI, and the second was based on additional emails that allegedly showed communist China directly offering millions of dollars to then-Vice President Joe Biden.

"Big Tech stepped in, and they've done something they've never done before," Cruz explained. "We know that Big Tech has been censoring individual conservatives, trying to suppress conservative speech. But the step they took here is, they blocked if any individual user tried to share either of the New York Post stories, [they] were blocked ... Sharing a news story, from a major media outlet is part of democracy, part of free speech. And not only that, they blocked the New York Post itself. Right now, today, the New York Post is not being allowed to post its own damn stories on corruption. This is ridiculous. It's a threshold that's never been crossed before, of Silicon Valley oligarchs declaring the authority to determine what the press is allowed to report, and who is allowed to see it."

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If we learned nothing from the media over the past 4 years it's that colluding with a foreign entity to either win an election or for personal gain is absolutely grotesque. Well, that depends on whether you have a (D) or (R) before your name anyway. President Trump was impeached on rumor and innuendo yet Joe Biden has all but skated on his corruption up to this point.

Below is a timeline that shows the level of corruption and the lengths the Biden's went to in order to build that family's wealth and influence internationally.


In 2009, Joe Biden was the brand-new Vice President and John Kerry was a U.S. Senator. Just five months after Joe was sworn in, his son Hunter, and Kerry's stepson, Christopher Heinz, formed an international private equity firm called Rosemont Capital. It had several different branches, including one called Rosemont Seneca Partners.


Just nine months after Rosemont Seneca opened its doors, Hunter Biden went to China for meetings with executives from China's biggest banks, and its sovereign wealth and social security funds. That's unheard-of access for a brand-new firm. Was it just coincidence that at the same time Hunter was meeting these Chinese bigwigs, his dad was meeting with China's then-president Hu Jintao in Washington DC at a nuclear security summit?


In May 2011, Joe Biden met with Chinese officials for the U.S.-China Strategic & Economic Dialogue conference in Washington. Just two weeks later, Hunter Biden went to Taiwan for meetings with the same Chinese financial giants he'd met in China in 2010, plus some new ones.


By December 2013, Joe Biden was enjoying his second term as VP, and John Kerry was now Secretary of State. That's when Joe traveled to Beijing on an extended official trip and Hunter traveled with him on Air Force Two.

During their stay, Vice President Biden met with President Xi and Hunter was mostly out of sight. We don't know exactly what he was up to, but the deal finalized between Rosemont Seneca and the Bank of China just ten days after the Bidens' trip pretty much gives it away. The most powerful financial institution in China formed a joint venture with tiny Rosemont Seneca to create a giant new investment firm called Bohai Harvest RST – the "RS" stands for Rosemont Seneca.

The firm is often called "BHR" for short.

Hunter Biden was a member of the Board. Remember, the Bank of China is government-owned, which means its business is completely intertwined with the goals of the Chinese Communist Party. BHR also got the freedom to operate in the newly created Shanghai Free-Trade Zone where, over the next six years, it would use $2.5 billion of Chinese government money to invest in China, as well as in other countries, including the U.S.

During their Beijing trip, Hunter also introduced Jonathan Li to his dad. Li is Hunter's business partner – he's CEO and Director of BHR.

Hunter arranged for Joe to meet Li in the lobby of the hotel where they stayed during their Beijing trip.


In 2014, one of BHR's first major investments was in the China General Nuclear Power Corporation.

CGN is a Chinese government-owned nuclear power company that sold off a stake of the company to outside investors. Problem is, CGN was under FBI investigation for paying informants in the U.S. to steal nuclear secrets.

In 2016, the FBI arrested the ringleader of this nuclear espionage, a man named Allen Ho.

When they arrested Ho, he was using a random code generator to access funds being provided to him from – where else? – the Bank of China.

Yet while this FBI probe was going on, the son of the Vice President owned a stake in the company being investigated. And even after arrests were made, Rosemont Seneca did not alter its relationship with BHR, nor did it divest from CGN, even though it was stealing U.S. nuclear secrets.


In 2015, BHR partnered with the Aviation Industry Corporation of China (AVIC) to buy an American company called Henniges for $600 million.

AVIC is a gigantic military contractor in China – think Lockheed Martin – that makes fighter jets, bombers and drones. BHR bought 49% of Henniges and AVIC bought 51%.

Henniges is a precision parts manufacturer specializing in anti-vibration technology. The stuff they make is known as "dual use" by the U.S. State Department, which means the technology can also have a military application.

Because of that, the deal had to be approved by the Committee on Foreign Investment in the U.S. (CFIUS) since it could have national security implications. The thing is, the American side of BHR – meaning Hunter Biden and his pals – had to know there were serious national security implications with AVIC.

The year before they formed a partnership with AVIC, the Wall Street Journal reported how AVIC stole technology related to the U.S. Air Force's F-35 stealth fighter and used it in its own stealth fighter for the Chinese.

How the Committee on Foreign Investment approved that deal remains a mystery. CFIUS does not publicly disclose any information regarding its decisions. Their findings are not publicly announced.

Interesting that China accounted for the largest share – with 74 transactions – approved by CFIUS during Obama's second term (2013-2015).

Under the umbrella of Rosemont Capital was a real estate company called Rosemont Realty. In 2015, a Chinese company called Gemini Investments bought a 75% stake in Rosemont Realty. The company was renamed Gemini Rosemont

Gemini brought $3 billion to the partnership with Rosemont, with the aim of buying "Class A institutional-quality commercial office properties in U.S. markets."

Red flag (literally) – Gemini Investments is a subsidiary of the China Ocean Shipping Company, a.k.a., "COSCO."

COSCO is a Chinese government-owned company. Its headquarters in Beijing is actually next to the headquarters of the Bank of China. COSCO is well-known for its close military ties. It's essentially a branch of the Chinese Navy.


In 2017, BHR invested in Face++. That's the facial recognition phone app built by a Chinese company that is incorporated in a separate app built by the Chinese government. Police in the Xinjiang [Sin-jong] region of China use that app to keep tabs on citizens, and track and detain Uiguhr [Wee-ger] Muslims.

The app allows police easy access to data about Chinese Muslims including things like religious activity, blood type, and even the amount of electricity they use.


In March 2018, a spokesman (Chris Bastardi) for Christopher Heinz (John Kerry's stepson) emailed The Hill to say that Heinz had "no operating role" in Rosemont Seneca, and that he was not involved in any of Rosemont's deals in China (which contradicts Schweizer's report in his book Secret Empires).

Chris Heinz was involved in Rosemont Capital. Rosemont Seneca was established under the same GP as Rosemont Capital, but Chris Heinz had no operating role in it. Chris and his family have no financial interest or investment in Bohai Harvest RST, he has never traveled to China, and he has never met with the firm's Chinese management team or investors.


In October 2019, Hunter Biden's lawyer, George Mesires, said Hunter did not conduct any business on that 2013 trip to Beijing with his Dad.

Mesires said the timing of BHR's business license getting approved was purely coincidental because the paperwork had been submitted months before the Bidens' China trip.

According to Hunter's lawyer, the approval " was not related in any way, shape or form to Hunter's visit."

Hunter Biden finally stepped down from the BHR board last October (2019), but he DID NOT give up his 10% stake in the company.

When Bevan Cooney — the former "junior" business partner to Hunter Biden and Devon Archer — went to jail in 2019, investigative reporter and New York Times bestselling author Peter Schweizer thought he'd never gain access to the damning emails Cooney had promised. That all changed three weeks ago when Schweizer was given complete access to Cooney's gmail account.

Schweizer joined Glenn Beck on the radio program Tuesday to describe just some of the business deals revealed within these emails — like Hunter working with an alleged Russian criminal and with Chinese communists to secure their assets, or to secure one-on-one time with his dad, then-Vice President Joe Biden. And all of this new information is completely separate from the emails allegedly discovered on Hunter Biden's laptop recently reported by the New York Post.

"So, I want to make this clear. This [Cooney's emails] has nothing to do with what's on the laptop … It didn't come from [Rudy] Giuliani. It didn't come from anybody else, right?" Glenn asked Schweizer.

"That's absolutely correct," Schweizer confirmed.

He briefly explained how Cooney, a former Los Angeles nightclub owner, is currently serving a prison sentence for his involvement in a fraudulent business bond scheme with Biden and Archer. From prison, Cooney gave Schweizer written permission to access his Gmail account.

"This is really important," he noted. "We're not looking at printouts. Not looking at PDFs. We're actually in his Gmail accounts themselves, sifting through these emails. And there's a shocking amount of information about deals involving China, involving Russia, involving all sorts of things they were trying to pull off."

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The king of "No Spin" and bestselling author of "Killing Crazy Horse," Bill O'Reilly joined Glenn Beck on this week's podcast to talk about the latest developments in Joe Biden's Ukraine and China corruption scandal. Now that some of the details are finally coming out in the open, does the average Democrat care? Maybe, but the Left doesn't seem to.

O'Reilly argued there's more hatred for President Donald Trump now than in 2016, and that some people hate President Trump so much that they'd rather vote for the "senile, corrupt" Joe Biden.

"Hunter got tens of millions of dollars from Ukraine, from Russia, from China because his father was vice president. I have no doubt in my mind," O'Reilly said. "But the hatred for Donald Trump overrides that in the minds of millions of viewers. They're saying, 'You know, we'd rather have the senile corrupt guy than Trump.'"

Asked by Glenn if any other Republican running for president would be met with the same level of vitriol, O'Reilly answered, "The Left is the Left. They don't like America. The want to redo the Constitution. They want to take some of our freedoms, like the Second Amendment and the First Amendment, and change them. And they want to destroy capitalism and replace it with a big centralized government in Washington that controls the economy … but I'm talking about the folks. I have liberal friends and I say to them, 'Do you not understand that when you vote for Biden, you're voting against your own self interest?'"

Watch the video clip from the full podcast below, or find the full episode HERE:

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