Glenn Beck: Is that the best you can do?

  - Buy from Amazon 


- Buy from Barnes and Noble

GLENN: You know, we spend so much time in our society talking about money and talking about being rich and everything else, but when are we really actually taught how to be responsible with money, how to create wealth, how to hold onto wealth? We learn almost through osmosis about debt and how much debt we can have, and we are circled by sharks that make money on us borrowing money and yet our society teaches us that it's all okay.

Right after World War II household debt was 22% of all of your disposable income, 22% right after World War II. America was reasonable. Today it's 134% of all disposable income. That -- excuse me? And we've done the same and that's why our banks are collapsing, our government is having a hard time, everybody's having a hard time because we were unreasonable for a very long time.

Seven words that will change your course, seven words that will change not only I believe your financial future but also the course of your life comes from Richard Paul Evans. Richard Paul Evans is a friend of mine, friend of the program. He's a New York Times best selling author, et cetera, et cetera. He wrote the book Five Lessons a Millionaire Taught Me and now he's written an updated version, Five Lessons a Millionaire Taught For Women. So Richard is on the phone with us. Tell me the seven words, Richard, that are the words that will change your life.

EVANS: Is that the best you can do?

GLENN: How do you mean it?

EVANS: Is that the best you can do? Glenn, my staff is required, anytime we're buying something or entering a room or anything to ask that question. I'm in a hotel right now. My secretary calls and goes, "Do you realize we got 20% off just because I asked those words?" She goes, I'm getting so good at it. America's kind of stopped negotiating. They don't realize that they pay way too much for everything. So that's just one of many of the tactics and techniques.

GLENN: Okay. So, you know, let me flip that up on its head because I think you have more power in that phrase than even you think. You say, "Is that the best you can do" to somebody, you walk into a store. I think -- because the best advice I've gotten from somebody recently was at the end of the day before you close your eyes, ask yourself, "Did I do my best." If the answer is yes, then rest well because God's going to take care of everything else. If the answer is no, you better figure out what you didn't do and do it tomorrow until you can go to sleep in answering that question yes every night. So when you say "Is that the best you can do," I think if you ask that to yourself, if we as a nation started asking that to ourselves, "Is that the best you can do," if we start asking that to our children and everything else, not in a negotiation sense, I think it changes it even more. I think it changes the whole course of your life.

EVANS: I think you are absolutely right. The only time you don't want to say that is to your wife, "Is that the best you can do."

GLENN: Okay, don't ask that, don't ask her, our wives that. Give me some of the stories where the seven words have played a role.

EVANS: Oh, and this -- again, Glenn, this is just one technique in the book. But when I first taught this seminar, the five lessons, I did it for my own family and I brought my siblings in. My brother owed $1500 to a hospital. So he wanted to prove me wrong. So he went and called the hospital. He had already written the check out for $1500, asked the woman, is that the best you can do. He went back and checked and he came back and she apologized. She said, I'm sorry, sir, I can only give you 10% off. Well, think about it. That's $150 tax and tithing-free that he just, a complete stranger gave him and apologized for.

GLENN: Do you do this in, like, regular stores? Do you just walk into a store?

EVANS: I'm a Costco, get a big screen TV, turned to the guy pushing the TV and said, is that the best you can do? He goes, I'll go check. The best story I've heard -- and I get these stories. I've had hundreds of them, maybe thousands, people to share their stories. The best is a friend of mine who had adopted a baby and they had about $20,000 of medical bills and she called the hospital and told them the situation and asked, is that the best you can do, and they came back and said, "We'll cut it 80% if you can pay it off in the next month." And so they saved $18,000. So it's incredible.

GLENN: There's a better ending to the story. I really thought a friend adopted the baby, the adoption agency brought the baby and said, is that the best you can do? I thought this was going to have a different tragic sort of ending. I'm glad it ended the way it did.

EVANS: No, it ended wonderful. They have this beautiful baby and instead of being strapped for money and thrown in debt, they got the baby and they're out of debt.

GLENN: So the five things that the millionaire taught you are what?

EVANS: Can I tell you the premise, Glenn?

GLENN: Yeah.

EVANS: How it started? When I was 12 years old, my father, who was a building contractor fell on a building contractor, he fell on a job site and he fell and he shattered the bones in both of his legs. So with eight kids, no income and no insurance, we were financially decimated. The reason I slept on the floor, we moved into a small three bedroom duplex and I slept on the floor outside the kitchen for two years. Well, it was during this time a multimillionaire named Cary Heinze invited all the youth in the area to a free lecture about money and he got up there and he asked the question, is money evil. Even though it isn't evil, we all quickly greed that it was evil because we were in a church and he proceeded to teach us that money is just power and power in the hands of good people is a good thing. So he taught me these five lessons and I'm 12 years old and I'm scribbling them down, completely transformed my life. By the age of 16, I had saved up enough to buy a car. I was paying my school expenses. By the age of 18, I had saved up enough for a church mission and my college. By the age of 31 I was a multimillionaire. I paid off my home, had no debt and so I started to share these lessons with other family members and I watched them get out of debt. And in fact, my niece who is on the verge of bankruptcy, she's the one who told me to write the book because I taught her the lessons. She's fighting with her husband, totally maxed out their credit cards, they're in real trouble. In 15 months she not only got out of debt, she had saved more than $30,000. She said, "Uncle Rick," you need to share these lessons with the world." I was afraid what people would think. Because most people write books about money to make themselves rich. So I thought, I tell you what, if I give away all the royalties, all the proceeds so I don't make any money off this, I can do it. So that's what I did. We raised a lot of money for charity and the cool thing is all across the world -- because this is an internatio nal best seller now. All around the world people's lives are being changed and I was 12 years old when I learned these lessons. They are not that hard. Like you said, Glenn --

GLENN: Go ahead.

EVANS: Like you said, people just don't, they don't learn it. No one teaches them in society.

GLENN: So but this one is about -- this one's different than the five lessons taught to me by a millionaire. This one's specifically for women. Are the lessons different for women?

EVANS: Well, it's adaptive because women look at money very differently than money. And as soon as I found -- what I started to do is I started doing seminars for couples. I started doing just women because I was finding all these single mothers and I realized that money is being shifted over to women, that more than 80% of all expenditures are made by women, that the purse strings in homes in America are being handled 2:1 over women by men and yet women have never been taught because they grow up with these mixed messages that, you know, good girls don't worry their pretty little heads about money.

GLENN: Amazon, Barnes and Noble, Costco, major bookstores. Pick it up now by Richard Paul Evans.

Glenn created "The Senate Fails to Condemn INFANTICIDE" in response to the Senate not passing Nebraska Senator Ben Sasses' bill banning infanticide early this year. In an effort to help support pro-life charities, Glenn first posted this for sale on eBay before being banned multiple times before we finally had enough and put it up for sale on bidpal.net.

At the time of this post, the bid was up to $4,700 — but we can do better than that. Please help us raise money for a good cause, you don't even have to display it anywhere in your home, you can just keep it in storage or something! If you want this priceless piece created by one of the most influential people in the world of art, place your bids here.

Can you remember the economic crisis of 2008 and how you felt when the news broke that Lehman Brothers had collapsed? I have found an economic threat that everyone needs to be aware of, so you can prepare yourself in case we see another 2008 type collapse. I am going to present the evidence to you and I urge you to verify everything and to form your own opinion.

What is that threat?

It is a bank called Deutsche Bank. They are by far the most dominant bank in Germany which is the world's fourth-largest economy. In 2018 they had €2.08 Trillion worth of assets and the second-placed bank (DZ Bank) had €506 Billion worth of assets. To show you how dominant this bank is, they have more assets than the 2nd, 3rd, 4th, 5th and 6th sized banks combined.
When we review a business there are three key parts to analysis:

  • Market sentiment
  • Business numbers
  • Technical Analysis

Market Sentiment

Deutsche Bank has a long history of potential scandals including going all the way back to World War 2 and dealing in Nazi gold. Below are five recent stories which have increased the negative sentiment around Deutsche Bank.

  1. In 2007, they purchased a portfolio of loans worth $7.8 billion and purchased insurance from Warren Buffets Company. It was discovered they did not set aside enough capital to cover any potential losses. Over the course of the ten years, they lost $1.6 billion, and when they sold the loan they did not update their financial statements to include the big loss
  2. The Panama Papers are an ongoing investigation looking for many things including offshore tax havens. These investigations have resulted in several heads of state resigning including in Iceland and Pakistan. Last November, 170 police raided 6 different offices in Frankfurt looking for evidence of money laundering.
  3. Estonia is a small country in Eastern Europe. It has a population of 1.3 million people and a GDP of €26 billion. In January, it was discovered Deutsche Bank got involved with a Danish bank called Danke Bank and processed over $230 billion worth of cross country payments (including from Soviet Russia) through one bank in Estonia.
  4. There have been rumors of issues with Deutsche for a while now and one of the solutions put forth was a merger with a bank called CommerzBank. The leaders of both companies met and they even got support from politicians. In April, news broke that the merger talks had failed because over worries the risks and costs would be too great.
  5. Last week in France, Investment banking boss Garth Ritchie and others were arrested in France over illicit tax transactions.

Business Numbers

Deutsche Bank is already struggling as they are losing staff, losing market share, and bonuses are expected to be down at least 10% and further rounds of cost-cutting to come. Now imagine the impact if business costs start going up.

The banking industry works in a very simple way. They raise funds through large bonds at low-interest rates and then sell those funds to business and individuals thru products like loans and credit cards at a higher interest rate which results in a potential profit.

Earlier this year, Deutsche Bank tried raising money through several bonds. They paid 180bp (basis points) on a two-year bond and 230bp on a seven-year bond. Let me put this in context for you. There is a small bank in Spain called Caixabank which paid 225bp on a five-year bond and one of the larger banks in Spain, BBVA paid 130bp on a five-year bond.

  • How and why is a small bank in Spain getting a better deal on bonds than a huge bank in Germany?
  • Why is a large bank in Spain getting a bond 100bp cheaper than a German bank?
  • What does the market know that we do not?

Stock Price

Deutsche is also missing revenue projections which further hurt the business ability to survive and prosper. As you can imagine all of this news has a deep and lasting impact on its stock price which is in deep trouble. Before I share the stock price, I need to put this into the context of the market and the industry compared to the big economic crash of 2008. Below you will see a chart of some banking stocks from around the world with their peak price prior to the 2008 crash, the low of the 2008 recession and the price today:

As you can see from the above chart the banks in America have recovered from the 2008 recession by anywhere up 375% and JP Morgan has not only recovered its price in full but is constantly setting new high's. Ireland went bankrupt and had to be bailed out by the EU/IMF following the 2008 crash and even our national bank has more than doubled its price since 2008. The worst performing bank I could find was Societe Generale which has issues but is still hovering around its 2008 low price levels.

Now let's put that into the context of Deutsche Bank. Not only has the stock not rebounded but it is over 65% below its 2008 low at $6.75.

Technical Analysis

When you are dealing with the stock market, you also have people who study pricing through technical analysis. Experts look at things like FIB sequences, trend lines, and support levels. Support levels are a key metric for a stock failing because are looking to find where it will find support and potentially bounce higher.

We are very close to a key support level ($6.40) and if the price goes below this level, there is no saying exactly how low the price could go. At least one company expects Deutsche to fall below this support level, as several weeks ago UBS downgraded the stock to a sell order. This news was compounded last Friday when rating agency Fitch, downgraded their credit rating to BBB or two levels above JUNK status.

Other Information

I know you are likely reading this and thinking "this bank must have smart people in charge and surely they have a plan, right?" I am sure there is a plan and while they have kept their cards close to their chest, they have spoken in the past about the areas they foresee having growth for the company – they include business in Saudi Arabia, UAE, and Egypt. Do they strike you as countries which are stable and will offer steady and reliable growth? Do you have to think really hard to imagine how this could go potentially very wrong?

Questions

I believe there is at least a solid case Deutsche is in a LOT of trouble. So what are possible scenarios for the future? I will lay out the key questions below but I must stress that it's impossible to say for sure what exactly will happen. One of the key numbers to remember here is they have roughly €50 billion worth of derivatives.

  • How likely is it that the bank can turn things around and survive?
  • How likely is it the bank continues to run into trouble, its stock price fails and eventually fails?
  • If you think it is likely it will fail, the question becomes what will the fallout be? Who will be affected?
  • Will they be bailed out?
  • If so, by whom? The German government, ECB, IMF, the Federal Reserve?
  • What will the German government think? Some members recently spoke out saying they would block public money for the proposed merger? Will they block funds if it failed?
  • Will other banks be exposed and affected? Will they have to take losses?
  • Will those losses be spread around or will one or more bank be mainly affect?
  • Will this affect the sentiment of the banking sector and cause a panic?
  • If there are issues and it starts affecting the stock prices, what will be the impact on other industries?

Last Question

The last question revolves solely around the banks and the regulators? How secure are the other banks? We all hear about how banks are now put through "stress tests" but how much trust do you put in those results? How much trust do you have in the regulators?

I know this may make me sound like a conspiracy theorist to some but it's an honest question. The Fed is on public record saying they want to keep this economy strong as long as possible. If a bank did not perform strongly in a stress test or even barely failed one, do you think they would report it?

Can you imagine the pressure that body would come under to stay silent? Can you imagine the rhetoric they would face with questions like, "Are you really going to fail one bank? Do you know how many people will lose their jobs if you do that?" Am I saying this is happening? No, but can you really rule it out 100% as a possibility?

I urge you to ponder on these questions, do your own research and find YOUR answers.

Update: The most freaquently asked question I have received from this column / show is how much time do we have to prepare. This is an impossible question to answer, as it could fail tomorrow, next week or might be next year. However I want to provide you a potential date for your diary – July 24th. That is when Deutsche will release their next earnings report and if it comes in below expectations, it could cause a further drop in price casting more doubt over the future viability of the bank.

Please support Jonathon's weekly podcast which is exclusive to the Blaze Media and available for FREE. He offers a unique perspective by promoting America's Founding Principles and brings every issue back to a set of core principles which are always based around the laws of nature. You can find links to his show by clicking here or by searching for Freedoms Disciple on your favorite audio platform.

Survey: Where do you stand on these conspiracy theories?

Thought Catalog / Unsplash

Have you seen this survey on the most-believed conspiracy theories in America?

It's no surprise the survey has been getting so much attention. The results are actually a pretty disturbing.

Infographic: Belief in Conspiracy Theories in the United States | Statista

I decided to put together a quick survey of my own, with slightly different wording.

Up-vote the ones you agree with and down-vote the ones you disagree with.

I believe Lee Harvey Oswald killed JFK alone. However, I would not be surprised to find out the government sealed evidence that others were involved.

If by "deep state" you mean long-time Washington power brokers who are used to calling the shots and now feel threatened by Donald Trump not listening to their advice or council — yes, I do believe that many people like that are working against him and his administration.

Whether alien bodies are in Area 51 or not, I do believe the government knows more about UFOs than they have told us.

I do not believe the U.S. government was involved in 9/11, but as we know, NSA advisor Sandy Berger was caught destroying documents from the national archives related to both Bush and Clinton. All U.S. administrations have been to close to the Saudis, and the Saudis were involved in 9/11 at some level.

I believe the climate is always changing — it's natural. I would be willing to accept that man MAY play a role in this. But I do not believe in the solutions currently being discussed, nor do I believe the intention of most political activists are pure.

Any talk of the Illuminati provides the true dangers to man's freedom — like very powerful NGOS and men like George Soros — a perfect cover.

The U.S. government has done some horrible experiments on people and land — I also suspect they will do more things in the future. But I do not believe in the systematic spraying of chemicals using chemtrails.

The moon landing was real, but I see a time coming when people will not be able to trust their eyes due to deep fakes.

What do you think?

Let me know in the comments section below.