Glenn Beck: No follow up question?



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GLENN: I saw a video and this is from I don't know a couple of weeks ago, on CNBC and I saw this a guy named Damon Vickers. He runs a hedge fund out of Seattle and listen to this interview and then notice the lack of a follow up question.

Vickers: This is the time to play ping pong to, you know, pick up on, you know, get involved in model making or something ridiculous. I mean, this is the time where you make money, where the trend develops, and so there's really not a lot to do with it. I mean, oil looks higher, gold looks higher, currently looks weaker, all of the for the reasons we talked about. We have huge wake disparities, I don't know how it resolves itself. It may resolve it in some type of a global currency crisis and then if the globe globe unfolds, then inevitably you, I guess, an alignment under a global world government, a new global currency, and a new world order. So, we may be moving towards that

Voice: Talk to you a little bit more about this

Glenn: Stop. Is that the way as a human being you would respond? Wouldn't you say, way wait, wait, wait. What did you just say is it so, we wanted to get Damon on. Is he on with us now? Damon?

Vickers: Hey.

Glenn: How are you, sir?

Vickers: Great to join you, Glenn, and I you know, I heard the bit when you had that on the air the other day.

Glenn: Yeah.

Vickers: And, really, just screaming funny, yeah. Really good.

Glenn: Yes. Screaming terrifying, if you are a I mean, I'm hoping that you're nuts, quite honestly, I'm hoping you're nuts.

Vickers: Well, I probably definitely am a little nuts, but

Glenn: Yeah.

Vickers: Maybe even the Federal Reserve and the growth of our government in the United States is even crazier.

Glenn: Okay. I for one think they are. I've just never heard anybody actually say these things. First of all, when you said this, did you expect a follow up question on, Wright, wait, wait. Wait. Collapsing of the currency and then one a new world order, one world government? Did you expect a follow up question on that?

Vickers: Well, I mean, that would have predisposed that my comments were prepared and they really weren't. I mean, when I do an interview

Glenn: Okay. Okay. Wait, wait

Vickers: Like right now, I come in ready to be, you know ready to be flexible to whatever we talk about.

Glenn: Okay. But hang on just a second.

Vickers: Yeah.

Glenn: After you were leaving the interview, did you think, gosh, they should have followed up on that one world government thing?

Vickers: Yeah. I guess. I guess he should have. You know, I guess it went over his head, but maybe these ready, maybe he's ready to embrace the new world and, you know.

Glenn: Okay. Are you one of these guys, have you been saying this since, like, 1963?

Vickers: No, I haven't. I mean, it just we have this kind of a momentum, Glenn, that's going on in the world and that is that we have systems in the United States and in westernized Europe that are really unsustainable. We continue to print money, not just us, but those countries around the world. We have huge wage disparities in terms of unit costs of production. What does that mean? It meanings that it's cheaper to make something in Vietnam and knew even Bangladesh? Did you know they are making things in Bangladesh? That it's cheaper to makes things there than in the United States, but how do we actually earn any earn anything in the United States, earn reserves, earn currency? We really don't have a means of doing that right now. We are exporting IOU's and promises, but not just us, also westernized Europe and we are consumers of goods that are manufactured elsewhere, with no means on an increasing basis to provide employment for our burgeoning population and inevitably, that has an end game. Now, we're keeping this illusion of prosperity alive through debt and the printing presses, but at some point, as we're seeing, this is not sustainable and we're seeing that

Glenn: Damon, may I say something to you?

Vickers: Yeah.

Glenn: And, again, you may turn out to be a complete nut job and I hope you don't, but you are the only person that I have talked to on the air oh, I've had people say these things to me off the air who are very big, very big financial people, but nobody has had these this conversation with me on the air. Nobody wants to. You are you not only get it but I think you should be commended for your honesty on whether this happens or not, at least this is the way this is the way it sure looks to me.

Vickers: Yeah, it does look like that. And I didn't mean it to be shocking. I didn't mean it it is honest. It's an honest assessment.

Glenn: It is shocking now.

Vickers: It should be shocking. I mean, I don't what we're talking about is a scary amount of change. I mean, for me it's always about health. Last year we had a great good year. I mean, our fund went up 63 percent and we did this by being short in the market and the AIG's, the Wa Ma's, the General Motors, we shorted all those things and we made a lot of money to your investors but the teller for me, there was a day, a Friday whereby the banking index broke support and I sent out a release to the media, including FOX, side which basically the title of it was on the eve of destruction. The following week we had the worst week in market history. When we've been watching gold now for better than a year. We did not take the position. We were looking to take a position when it broke through a thousand. And for me that was also a tell. If gold was going to breakthrough to a thousand, there may be other things that would be coordinated with that. What also would that be telling us? And what I believed and what it appears to be presenting to us is an increasingly distressed dollar condition, how bad does it get? It could get really bad.

Glenn: You tell me. You tell me. The last time Ben Bernanke comes out this on a regular session and says, By the way, we just want to reconfirm, we're not going to change the interest rate here

Vickers: That was yesterday. Yeah.

Glenn: It will me the last time, though, besides yesterday. That doesn't happen. And that is

Vickers: No, it doesn't. It's really surprising. In fact, I think if you were a betting man, you would have anticipated that Bernanke would come out and actually say the opposite.

Glenn: Yeah.

Vickers: That after all the weakness in the dollar, somebody would somebody would stand up for that dollar that is just every day that market is open, is another opportunity to dump some dollars.

Glenn: Damon, can you hang on just a second? How much time do I have with you? Can you hang for a second?

Vickers: Yes, sir.

Glenn: I would like to continue I don't know what you have planned tonight, but I would like to continue this conversation with you tonight because, America, I don't know anything about this guy, but what he has just said toy on the air is true. This is the only person that I have heard that seems to have the total picture and the guts or the insanity to actually say it out loud. This is an important message not for you just to hear but for you to understand because you're not going to get this message everywhere, because they'll say that's dangerous, it will cause people to freak out. You only freak out when you don't know what's coming.

Vickers: Exactly.

Glenn: All right. We'll be back in just a second.

(Out at 10:44 a.m.)

Glenn: 1 888 727 BECK, 1 888 727 BECK. We have Damon Vickers on. The name of your hedge fund is, what, Nine Points?

Vickers: Nine Points Capital Partners.

Glenn: Okay. And you're located in the Seattle area?

Vickers: We are in Seattle. I'm looking at the space needle as we speak.

Glenn: Very well. That's the town I grew up.

Vickers: Yeah. That's why they gave you the key to the city, huh?

Glenn: Yeah.

Vickers: Yeah.

Glenn: Okay. So, David, I want to go back to the destruction of wealth. You're a guy who said on CNBC. I don't know when a couple of weeks ago that, you know, we're moving towards a global government and one world currency and the new world order and they didn't feel it necessary to do a follow up question. So, I'd like to have a few follow up questions.

Vickers: Okay.

Glenn: I see what is happening with the carry trade, with we are creating correct me if I'm wrong we are creating the housing bubble on a global scale and it is the last bubble and there's no warning signs when this thing starts coming down and that's why Bernanke came out yesterday to get people to be to try to stabilize that market somewhat. Yes or no?

Vickers: I don't think it was stabilization. They're happy to see the dollar go down. They believe

Glenn: But they're stabilizing the aren't they stabilizing the commodities market? They don't it's my understanding, if they pull all that money out of the commodities, we've created a massive bubble that pops and destroys everything or at least we're beginning to.

Vickers: Well, they didn't stabilize the commodities. Gold went up $23 an ounce yesterday and we own gold and we own gold in the fund and oil went up about $3 a barrel and we own oil and we own oil in the fund. So, no, actually the commodities really liked what Bernanke had to say.

Glenn: Yeah. I don't know how to phrase this question. You're misunderstanding what I'm trying to say.

Vickers: Okay.

Glenn: What I'm trying to say is there is only people are betting that the dollar is going to tank and so they borrow this dollar at, you know, 0 percent interest and they're actually making money by borrowing that dollar because then they turn around, they buy gold or to him. That goes up so far, they make that money and then they pay those dollars back. They're betting on the dollar going down, but in Bernanke's

Vickers: Well, we are, too, but you don't if I buy gold or if I buy oil, right, yes, essentially we are. By virtue of doing that, I am making a bet on two things. One is I'm making a bet on the breakout of gold in a thousand but also, certainly, the weakness in the dollar, I'm benefitted from that. You've got it kind of feeds on itself, Glenn. It's like any market that's rising, right, people want to be in it and so as gold is rising, more and more people want to buy it. As the dollar is declining, you see countries like India buying what they buy 200 metric tons. You've got, perhaps, the ( commodities out there. This is people around the world and nations around the world. There are trillions of dollars of dollars that we have, quote, sprinkled all over the planet. Everybody is aware that the dollar is in this funk and the government doesn't want to do anything about seeing it go down. They, like prior administrations, believe that a weak dollar is good for export and employment. I guess until it gets to the point that there is no value in the dollar at all and then you don't even have a currency and then you have civil unrest and, you know

Glenn: So, Damon, I've only got 90 seconds and less than 90 seconds and I'd like to have you back and talk about some other things, but give me the biggest warning sign, something that we are going to see in the future that you say, if you start seeing these things, you're if trouble. We've only got about a minute now.

Vickers: Well, nobody's in trouble if they do the right things and the right things is not to own dollars but, well, here's how it could happen. You'll find you may come in on a Monday morning, Glenn, and you may find out the dollar is down not just a percent but down maybe 10, 15 percent overnight and it's not just the dollar. It's also the pound because if it happens like that, it will be a domino effect.

Glenn: Yeah.

Vickers: It won't just be one currency. It will be multiple currencies. What the governments will then do is they will rash shun up interest rates to try to support the dollar. You may see interest rates go up 5, 6 percent in one shot. I think that when that happens, what you'll also find is that even though they have raised interest rates, it still doesn't support the dollar. Then you get, I guess, a meeting of, perhaps, the G 20.

Glenn: 10 seconds.

Vickers: To try to come together to try to formulate some kind of a plan and that plan will probably be some kind of new global currency.

Glenn: Damon, we'll talk to you again. Nine Points what is it? Strategies?

Vickers: Nine Points Capital Partners.

Glenn: There it is. And we'll talk to you again. Thank you.

Reform Conservatism and Reaganomics: A middle road?

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Senator Marco Rubio broke Republican ranks recently when he criticized the Tax Cuts and Jobs Act by stating that “there's no evidence whatsoever that the money's been massively poured back into the American worker." Rubio is wrong on this point, as millions of workers have received major raises, while the corporate tax cuts have led to a spike in capital expenditure (investment on new projects) of 39 percent. However, the Florida senator is revisiting an idea that was front and center in the conservative movement before Donald Trump rode down an escalator in June of 2015: reform conservatism.

RELATED: The problem with asking what has conservatism conserved

The "reformicons," like Rubio, supported moving away from conservative or supply-side orthodoxy and toward policies such as the expansion of the child and earned income tax credits. On the other hand, longstanding conservative economic theory indicates that corporate tax cuts, by lowering disincentives on investment, will lead to long-run economic growth that will end up being much more beneficial to the middle class than tax credits.

But asking people to choose between free market economic orthodoxy and policies guided towards addressing inequality and the concerns of the middle class is a false dichotomy.

Instead of advocating policies that many conservatives might dismiss as redistributionist, reformicons should look at the ways government action hinders economic opportunity and exacerbates income inequality. Changing policies that worsen inequality satisfies limited government conservatives' desire for free markets and reformicons' quest for a more egalitarian America. Furthermore, pushing for market policies that reduce the unequal distribution of wealth would help attract left-leaning people and millennials to small government principles.

Criminal justice reform is an area that reformicons and free marketers should come together around. The drug war has been a disaster, and the burden of this misguided government approach have fallen on impoverished minority communities disproportionately, in the form of mass incarceration and lower social mobility. Not only has the drug war been terrible for these communities, it's proved costly to the taxpayer––well over a trillion dollars has gone into the drug war since its inception, and $80 billion dollars a year goes into mass incarceration.

Prioritizing retraining and rehabilitation instead of overcriminalization would help address inequality, fitting reformicons' goals, and promote a better-trained workforce and lower government spending, appealing to basic conservative preferences.

Government regulations tend to disproportionately hurt small businesses and new or would-be entrepreneurs. In no area is this more egregious than occupational licensing––the practice of requiring a government-issued license to perform a job. The percentage of jobs that require licenses has risen from five percent to 30 percent since 1950. Ostensibly justified by public health concerns, occupational licensing laws have, broadly, been shown to neither promote public health nor improve the quality of service. Instead, they serve to provide a 15 percent wage boost to licensed barbers and florists, while, thanks to the hundreds of hours and expensive fees required to attain the licenses, suppressing low-income entrepreneurship, and costing the economy $200 billion dollars annually.

Those economic losses tend to primarily hurt low-income people who both can't start businesses and have to pay more for essential services. Rolling back occupational licenses will satisfy the business wing's desire for deregulation and a more free market and the reformicons' support for addressing income inequality and increasing opportunity.

The favoritism at play in the complex tax code perpetuates inequality.

Tax expenditures form another opportunity for common ground between the Rubio types and the mainstream. Tax deductions and exclusions, both on the individual and corporate sides of the tax code, remain in place after the Tax Cuts and Jobs Act. Itemized deductions on the individual side disproportionately benefit the wealthy, while corporate tax expenditures help well-connected corporations and sectors, such as the fossil fuel industry.

The favoritism at play in the complex tax code perpetuates inequality. Additionally, a more complicated tax code is less conducive to economic growth than one with lower tax rates and fewer exemptions. Therefore, a simpler tax code with fewer deductions and exclusions would not only create a more level playing field, as the reformicons desire, but also additional economic growth.

A forward-thinking economic program for the Republican Party should marry the best ideas put forward by both supply-siders and reform conservatives. It's possible to take the issues of income inequality and lack of social mobility seriously, while also keeping mainstay conservative economic ideas about the importance of less cumbersome regulations and lower taxes.

Alex Muresianu is a Young Voices Advocate studying economics at Tufts University. He is a contributor for Lone Conservative, and his writing has appeared in Townhall and The Daily Caller. He can be found on Twitter @ahardtospell.

Is this what inclusivity and tolerance look like? Fox News host Tomi Lahren was at a weekend brunch with her mom in Minnesota when other patrons started yelling obscenities and harassing her. After a confrontation, someone threw a drink at her, the moment captured on video for social media.

RELATED: Glenn Addresses Tomi Lahren's Pro-Choice Stance on 'The View'

On today's show, Pat and Jeffy talked about this uncomfortable moment and why it shows that supposedly “tolerant" liberals have to resort to physical violence in response to ideas they don't like.

President Donald Trump has done a remarkable job of keeping his campaign promises so far. From pulling the US from the Iran Deal and Paris Climate Accord to moving the US Embassy to Jerusalem, the president has followed through on his campaign trail vows.

RELATED: The media's derangement over Trump has me wearing a new hat and predicting THIS for 2020

“It's quite remarkable. I don't know if anybody remembers, but I was the guy who was saying he's not gonna do any of those things," joked Glenn on “The News and Why it Matters," adding, “He has taken massive steps, massive movement or completed each of those promises … I am blown away."

Watch the video above to hear Glenn Beck, Sara Gonzales, Doc Thompson, Stu Burguiere and Pat Gray discuss the story.

Rapper Kendrick Lamar brings white fan onstage to sing with him, but here’s the catch

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Rapper Kendrick Lamar asked a fan to come onstage and sing with him, only to condemn her when she failed to censor all of the song's frequent mentions of the “n-word" while singing along.

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“I am so sorry," she apologized when Lamar pointed out that she needed to “bleep" that word. “I'm used to singing it like you wrote it." She was booed at by the crowd of people, many screaming “f*** you" after her mistake.

On Tuesday's show, Pat and Jeffy watched the clip and talked about some of the Twitter reactions.

“This is ridiculous," Pat said. “The situation with this word has become so ludicrous."