Glenn Beck: A slobbering love affair


A Slobbering Love Affair: The True (And Pathetic) Story of the Torrid Romance Between Barack Obama and the Mainstream Media

by Bernard Goldberg


GLENN: Bernie Goldberg is here. He's been writing an article for Fusion magazine on the Watchdogs in Name Only. He's also, this is a great book. The title alone is worth the price of admission. A Slobbering Love Affair: The True (and Pathetic) Story of the Torrid Romance Between Barack Obama and the Mainstream Media. Welcome to the program, Bernie, how are you?

GOLDBERG: If it sounds like a romance novel, it's because the way if press has been covering Barack Obama is a romance novel. How are you, Glenn?

GLENN: I'm very good.

GOLDBERG: I used to think if you don't mind my saying so I used to think some of your things -- and I'm saying this as a friend.

GLENN: Oh, boy.

GOLDBERG: That, man, this guy is deep, he is out there. And everything you are saying is becoming within the realm of reason. That's scary.

GLENN: It is scary.

GOLDBERG: I mean, you come up with a scenario that, this is an outrageous scenario, and then 10 minutes later it's not outrageous anymore.

GLENN: I know. Barney -- Bernie, I tell you, the -- if you think it's scary and going, gosh, this guy's crazy, try being me because believe me, I don't want to believe any of these things. I'm a guy, I never believed in these things. I've always believed that our country was good and decent and, you know, that there were bad guys in Washington but all these conspiracies and all this stuff. You just can't trust anyone anymore.

GOLDBERG: But here's the thing. Thomas Jefferson said there's one organization, one entity that you need to trust and we will give this entity constitutional protections with absolutely no checks and balances. And that was the media, right? The media's job is not to report about Lindsay Lohan or Paris Hilton. They can do that if they want, but their job is to keep an eye on government. And if nobody trusts the media anymore -- and by the way, nobody trusts the media anymore. It's not just guys like us. It's liberals and Democrats. Nobody trusts the media anymore.

GLENN: No, I'd take my news from a hooker more than I would from the mainstream media.

GOLDBERG: Exactly. So what happens when this media watchdog barks? Nobody's paying attention. That's the danger, and this is what I wrote in your magazine. That's the danger. That's why they're a threat to democracy.

You know, they are out there now, there are a bunch of articles out there now about how the collapse of newspapers around the country are a threat to democracy. What all these people who are wailing about this don't point out is that they brought this on themselves. Nobody trusts them anymore. They brought this on themselves. And this one, one magazine in Washington, the New Republic, actually blames me by name, by name, for creating a poisonous atmosphere in which newspapers and magazines are going under. Like I wish I had that kind of influence.

GLENN: Bernie, I tell you something, I think that, you know, here's another crazy theory of mine. As things really melt down -- I mean, when the Dow was at 14,000 I said, get out; it will be at 7500. And everybody says crazy. The things I'm talking about now are even more crazy than that and I'm already seeing the beginning of it that they are going to blame me for --

GOLDBERG: Exactly.

GLENN: -- sowing the seeds of discontent.

GOLDBERG: Exactly.

GLENN: Because everybody needs an enemy. You need a bad guy.

GOLDBERG: Yeah.

GLENN: And it's easy to blame the person who is looking at this whole thing and saying, "All of you guys have created this safe little world for you that is a danger to democracy."

GOLDBERG: Right. Now look, they are already blaming conservative talk radio or whatever you want to call your kind of show. You know, conservative, sensible, whatever you want to call it.

GLENN: Yeah. I'm conservative.

GOLDBERG: They blamed me by name, as I say, for poisoning the well and creating newspapers going under, which is laughable. They are not introspective, whether it's the media or whether it's politicians in Washington. They are not introspective. It's a lot easier to blame Glenn Beck and conservative talk radio than it is to say, "What the hell. Everything we do here, the market goes lower. It's what we're doing that people have no faith in. It's not Glenn Beck's fault."

GLENN: The solution is the problem. More with Bernie Goldberg in a second.

(OUT 11:42)

GLENN: In the April issue of Fusion magazine on sale now, the April issue is Springtime for Bailouts and the Fed. Bernie Goldberg has written an article in there, Watchdogs in Name Only. It's about the media. And he's got a fantastic new book out called A Slobbering Love Affair: The True (And Pathetic) Story of the Torrid Romance Between Barack Obama and the Mainstream Media

Bernie, we were talking. You know, you said basically the solution is the problem now and there's nobody that is really telling the truth in the media. They are all in bed for their own little cause or whatever it is. I wrote something last night for the Internet. I was up for the Insider section and I wrote something last night and in it I wrote the line, and when I wrote it, I thought, "This is so true." I said, in the coming days, weeks and year, your integrity and your word will be more valuable than gold. And I mean that. There's no one that we really trust anymore.

GOLDBERG: Right. We're supposed to trust the media. They are supposed to be the impartial referee, and they gave up that right. They just, they gave up that right. And I don't know who you -- I mean, I think people who follow you turn to you and people who follow somebody else turn to somebody else, but we need a strong mainstream media because they are the impartial, impartial arbiters. They are the ones who tell us the truth supposedly in theory, but it just isn't the case anymore.

Usually -- look, usually they put a thumb on the scale. Liberal reporters put a thumb on the scale for a liberal candidate. Okay, we've come to understand that. Now they sit on the scale and they say, "Hey, you don't like it? Too bad." And we're supposed to accept that. This slobbering is going to get us all in a lot of trouble, a lot of trouble because if we don't have an impartial watchdog out there, I'm going to repeat what you ask: Who are you supposed to believe at that point.

GLENN: So Bernie, the Internet is -- I mean, there is the voice of the people that can be found there but, boy, I was doing some research on some absolutely crazy things that I want to just put to bed that is going around on the Internet. The Internet is both great because you can get the truth out there but it is also now, it is the source of spreading rumors and lies.

GOLDBERG: Right, right.

GLENN: And it is so very rapid. What does the average person do without the watchdog, Bernie?

GOLDBERG: Let me first comment on your unfortunately all too correct observation. When I was growing up, I'll tell you where the most hate was. It was in the Ku Klux Klan. It was in the neo-Nazi groups. You know, that's sort of like they were really bad, disgusting people. Do you know where the most hate is today? It's not white against black or black against white. It's mostly middle class, mostly white, mostly men, young men on the Internet who don't have to give their real names and they could say the most vile things about anybody they don't like and make up stuff.

GLENN: Yeah.

GOLDBERG: And as you say, two seconds later it's around the world.

GLENN: I've seen stuff both left and right on the Internet.

GOLDBERG: Mostly left. Mostly left. The haters, the big haters are on the left these days.

GLENN: I've seen it both. I couldn't -- I mean, if you've looked into this, I haven't, but I've seen it on both sides. But I will tell you, I'm seeing -- you know, somebody said on my show a couple of weeks ago, they said Americans, you know, the American Civil War like we know it back in the 1860s would never happen again because brothers would not take arms against brothers. There is so much disinformation, there is so much lying out there, there are so many sources that are telling such horrible untruths.

GOLDBERG: Right.

GLENN: About each side.

GOLDBERG: Right.

GLENN: That you are not going to -- Stu, do you remember? Bernie, by the way, Stu is my executive producer on the radio show. Stu, do you remember when I said back in, what, '96 maybe, I said there's going to come a time in the future where Americans will no longer believe their eyes because a digital manipulation of photography and everything else, you will not know what the truth is anymore because it will all be blurred.

GOLDBERG: That's already happening.

STU: Oh, yeah.

GLENN: We're here.

GOLDBERG: That's already happening.

GLENN: We're here. So again, Bernie, I ask you what do we do?

GOLDBERG: That's why a mainstream media is so important. Look, could I try to answer that? But this is personal. If you can give me 30 seconds for a personal.

GLENN: Yeah, yeah, go ahead.

GOLDBERG: Look, I have no constitutional right to tell my version of the truth on anybody's radio show or TV show. So I want to make clear, I have no right. But ABC, NBC, CBS and NPR won't lemon because these are not the kinds of views that we're talking about that they want to hear. That's their right. I think they lose the right, however, to say they don't have an agenda, but that's their right. I just find out now that a company that I've defended about 10,000 times, Wal-Mart, the biggest retailer in America, won't sell my book because they won't sell anti-Barack Obama books. This is not an anti-Barack Obama book. It's an anti media bias book.

GLENN: Whoa, whoa, whoa. Whoa, whoa, whoa.

GOLDBERG: Yeah, you heard it correctly. You heard it correctly. They have ordered --

GLENN: Wait a minute. How do you know that? Where have you heard that?

GOLDBERG: Publisher has told my representative that we have sold no books at Wal-Mart because they will not buy the book because they don't want to sell anti-Obama books. Now, we're waiting for a statement from Wal-Mart and we've been waiting since last Friday for a statement because I heard about this Friday evening. I have a call in; Fox News has a call in. We haven't heard back yet. Now, what I'm saying is if somebody like me can't get my views out on places like NBC, ABC, CBS and NPR because they don't want to hear these kinds of views and I can't get my views out in the biggest retailer in America, I mean, thank God for Glenn Beck.

GLENN: Bernie, I have to tell you.

GOLDBERG: You don't believe me, right?

GLENN: No, I don't. I want to see the evidence of that and I also want to see -- and ask your publisher for this. I also want to see if there were any anti-Bush books that were sold at Wal-Mart. There had to have been.

GOLDBERG: We're going to find out.

GLENN: And I'm not willing to throw Wal-Mart under the bus on that. That doesn't make any business sense whatsoever.

GOLDBERG: I've defended this company against crazy criticism over the years.

GLENN: Yeah. So have I.

GOLDBERG: But if they don't get back to us, that's on them.

GLENN: Okay. So Bernie, listen. I want you to get back. Could you come back tomorrow on this program and give us the results of this?

GOLDBERG: I'm flying. I'm going to be in the air tomorrow, but the next day I can.

GLENN: Okay. So you come back and you give us the results of that because I would like to know the results of that. And I would like to know which books they have sold in the past. I will tell you, Bernie, that if this is happening, this is a sign of something else that, you know, you probably thought was crazy when I said it a year ago that companies are going to be taken over by the government. They will be nationalized like the banks and people will be so afraid.

GOLDBERG: Right.

GLENN: And so frightened in the business community.

GOLDBERG: Right.

GLENN: That they just, they won't mess with anybody.

GOLDBERG: That's exactly what we have to fear. That is exactly right. And I will get back to you Wednesday morning with what I found out.

GLENN: Okay, thanks. I appreciate it, Bernie.

************************

UPDATE: Response from Wal-Mart

We are currently selling Mr. Goldberg’s book on Walmart.com where we carry the majority of our book selection.

In our stores, we offer consumers the top selection of best selling books in many categories, and a wider variety of books on our Web site.

Walmart Stores have had no conversations with the publisher for placing the book in stores. Not being a specialty retailer, we carry very few nonfiction books in stores, so Mr. Goldberg’s book is one that we would watch and see based on customer response.

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.