Glenn Beck: How Capitalism will Save Us

How Capitalism Will Save Us

GLENN: Well, we were just talking to a phone caller about the little guy and I think there's nobody that defines the little guy more than Steve Forbes. Welcome to the program, Steve.

FORBES: Glenn, good to be with you. Thank you.

GLENN: You've got a book called how Capitalism Will Save Us, and I want to ask you a couple of things that I see in the economy, but I first want to ask you, we just had a caller who said how come the Democrats are always the party of the little guy? How do you combat that? How do you convince people that they are in bed with gigantic business and special interest? Do you have an answer for that by any chance?

FORBES: Well, they start first with giant entities like the federal government, the Federal Reserve which printed too much money and gave us the housing bubble, monstrosities like Fannie Mae and Freddie Mac which twisted and distorted and ultimately blew up the housing market. And in terms of helping people, we know that the government ends up doing more harm than good. Look at welfare. Took welfare reform to stop that. The so the question is what kind of an environment helps people who start with very little as Abraham Lincoln puts it, to put it to improve your lot in life and that is true free markets where people like Steve Jobs who were abandoned by his biological parents goes on to do great things. Bill Gates, a middle class kid goes on to create a huge company. Larry Ellison, orphaned, does the same thing. And in no other system other than free markets, entrepreneurial capitalism can people do that and benefit all of us. Just like at cellphones. Four billion of them around now as you know, Glenn. Twenty years ago cellphones were as big as a shoebox, clunky, expensive, hard to carry around. Now today they're sleek, chic and four billion of them including hundreds of millions of poor people. The government couldn't have done that. So the little person so called, people with very little, they do best in an open free market.

GLENN: Steve, I am very concerned. But see the front page of the New York Times yesterday and what they discovered, the debt might be bad? Did you see that story?

FORBES: Well, 200 years late, yes.

GLENN: Yeah. But they are talking about, they are talking about now, I think they said $700 or $750 billion. My research shows about $800 billion just to service the interest by 2019 and that's if everything goes well, which it's not. We are printing too much money. I don't think the Fed, I think we're looking at a Fed that's going to make the same kind of decisions that the central banks or the banks in Germany made where if they shut down the interest rates, they are going to choke the economy to a complete stop. If they don't raise the interest rates, the dollar is going to go off to oblivion. How can we solve this problem?

FORBES: Well, first on the Federal Reserve, the first thing it should be doing is stabilizing the dollar. We don't want inflation or deflation. We just want flation so that we have something that people can count on. If you don't have a stable dollar, you've got commodities, speculation to excess; same thing with currency, you don't get investment in small businesses, new businesses. And the way they do it is just stop printing it. Now, people will say, gee, won't that raise interest rates. No, it will actually help small businesses. If you're a consumer or a small business, your interest rate is not the Federal Reserve rate of near 0%. You are facing 8, 10, 12, 20% interest rates. So if we get a stable dollar, the people who can really make things happen, their cost of money will go down and the availability of money to do constructive things will go up. The losers will be the federal government which will finally have to face up to the fact if you are going to spend, you've got to get the money from somewhere. Just one little factoid is how bad this thing is thanks to their mismanagement is that the average maturity length of the national debt now is 49 weeks.

GLENN: Oh, my gosh.

FORBES: Not years. Weeks. So you start getting short rates up again, you are going to blow another hole in the budget.

GLENN: But wouldn't I mean, Steve, doesn't there come a time when, I mean, you know. Look, you are Steve Forbes. So you've got I mean, you've been in these situations before. If you are sitting there and you are the money lender and a business was behaving the way this country is behaving now, at what point do you say, yeah, you know what, I think I've lent you enough money, I don't think I'm going to pick you up for another 48 weeks. This, you guys got to stop spending.

FORBES: Oh, I think you are going to see that next year as other countries start to pull back from this money printing. The Australians have already started. Other countries will do it. We and the Brits I'm afraid will be the last ones to get the message and that's going to force us to change. You cannot let the dollar be treated like confetti forever. We tried that in the Seventies and it just led to a decade of stagnation and horrible things and political repercussions overseas. And so they are going to be forced to change.

GLENN: I know that America, if she's allowed to be free, if you don't shackle the entrepreneur and the dreamer, we can make it through anything. We've already I mean, we are the people that conquered the mountains and the West. We can conquer anything. But we have to be free to do it.

FORBES: Exactly.

GLENN: How concerned are you that, A, healthcare is going to pass and, B, these guys are gobbling up so much of the economy that we're about to snuff out any kind of entrepreneurial spirit in America?

FORBES: Well, you are right. They are extending their tentacles more and more in the name of saving us, long after the panic subsided, the financial panic. They are now, the Federal Reserve's now ready to tell what salaries are for 5,000 financial institutions, and this bill that Senator Dodd is proposing would make anyone who does anything with money subject to government bailouts and control. So but I think the American people, what you are doing and people are rising up is you saw it with tea parties, you saw it with town hall meetings, you saw it in the elections in Virginia and New Jersey which the House of Representatives resolutely ignored. The people instinctively understand something profoundly wrong is going on and you are going to see more and more blowback from it. So I think the odds are better than 50/50 despite the Louisiana Purchase, Mary Landrieu and some others, I think you are going to see this, could very well see this healthcare bill blow up as people make their feelings very clear. People just know they don't have the answer for it.

GLENN: There is a new book. Steve has just put out. Steve Forbes, how Capitalism Will Save Us. Thank goodness somebody is out there saying that it is the free market and free people is the subtitle, are the best answer in today's economy by Steve Forbes. It's available in bookstores everywhere. Not only read it but then share it and pass it on to your kids because nobody else is saying these things. Steve, always good to talk to you.

FORBES: Glenn, thank you. And Elizabeth and I are so grateful to have the chance to discuss the book with you and keep fighting. We will win this thing.

Justin Haskins, editorial director of the Heartland Institute, joined Glenn Beck on the radio program to expose a shocking conversation between two Great Reset proponents — Klaus Schwab, chairman of the World Economic Forum, and Christine Lagarde, president of the European Central Bank (Europe's equivalent to the Fed).

The way Schwab and Lagarde discuss the role central banks should play in establishing societal norms, determining your way of life, and defending against potential crisis is proof that the Great Reset is upon us, Justin explained. And the scariest part is that they're not even trying to hide it. The entire, unbelievable conversation has been published on the WEF website, which you can read here.

Glenn read an excerpt from the conversation:

Christine Lagarde: At the ECB, we have now wrapped up and concluded our strategy review, which was the first one in 17 years. And I was blessed to have an entire Governing Council unanimously agree that the fight against climate change should be one of the considerations that we take when we determine monetary policy. So at least the European Central Bank is of the view that climate change is an important component in order to decide on monetary policy. ...

Can we arrive at that trade-off between fighting climate change, preserving biodiversity and yet securing enough growth to respond to legitimate demands of the population? And my first answer, Klaus, to be firm, is that to have a way of life, we need life. And in the medium term, we do have major threats on the horizon that could cause the death of hundreds of thousands of people. So we have to think life, first. We have to think way of life, second. ...

So we have to think life, first. We have to think way of life, second. How can we come together to make sure that we secure the first priority, which is life, and also protect the way of life that people have? And make sure that the cost of it is not so high for some people, that they just cannot tolerate it. I think that the trade-off that we reach will probably require some redistribution, because it is clear that the most exposed people, the less privileged people are those that are going to need some help.

"Do you understand, America, what that means?" Glenn exclaimed. "You have elites, that you never elected, that are having these meetings ... deciding what is a legitimate need for you. And telling you that your needs are going to go away in your lifetime. You may not see a time where you get wants again. Just your needs are going to be addressed. Am I reading this wrong?"

"This is absolutely what is being said here," Justin agreed. "She's very clear that we need to make sure that way of life is second to life. We have to save all these people, hundreds of thousands of people are going to die from this supposedly existential threat of climate change. And their wants, and their desires, and their quality of living, all of that has to come second."

"This is a central bank saying this. This is not an elected official, who is accountable directly to the people. This is a central bank saying, we're going to print money. We're going to use monetary policy, to impose these ideas, to rework society in order to accomplish our goals," Justin added, addressing Lagarde's call for "some redistribution."

Will Great Reset elites — not elected by the U.S. — soon be dictating to the rest of the world? Watch the video clip below to hear Glenn and Justin break it down:

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.

First comes the "crisis," then comes the expansion. The federal government is seizing on the January 6 Capitol riot to take carte blanche to do whatever it wants and weaponize the event to further empower the new overlords of our country — the intelligence community.

On Glenn TV Wednesday, Glenn Beck reveals what's happening with the U.S. Capitol Police and argues they've morphed into a new arm of the intelligence apparatus, boosted by a massive increase in funding and surveillance equipment and new offices OUTSIDE the Capitol building. The Biden administration has also hidden basic details regarding January 6. Why did officials refuse to release the name of the officer who killed Ashli Babbitt? Where are the 14,000-plus hours of CCTV footage? As any intelligence organization knows, it's best to operate outside the realms of oversight.

Glenn exposes the hidden hand of government that could be used to punish and destroy innocent Americans who are only guilty of holding the "wrong" political view.

Watch the full episode of "Glenn TV" 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.

The conditions in Afghanistan under the Taliban rule — for Americans, allies, Christians, women and more — continue to deteriorate, and the people there continue to plead that we will not forget them. On the radio program Monday, Glenn Beck gave an emotional update on current evacuation efforts, including the tragic story of one girl — an American passport holder — who was not rescued in time.

"I have a pit in my stomach like I haven't had in a while. What is happening in Afghanistan is both miraculous and horrendous," Glenn began. "What's going on right now one of the most amazing things I've ever personally witnessed — the evacuation of Americans, those [Afghans] who helped us, Christians that are dying, women that are under incredible conditions. I see things that I can't show you. I see the pleadings from people who are in safe houses, 'Please, don't forget us.' I see what they're being sent by the Taliban.

"If I die today, my entire life will have been worth it for what you have helped get done, in just the last three weeks. You have saved well over 5,000 people," he continued.

Fighting back tears, Glenn added, "I ask that you pray for those in the Middle East, that are in the midst of doing work, that a Moses-style miracle will happen. ... There are several people that are in dire need of medical care. Friday, we told you — along with the congressman from Oklahoma [Rep. Markwayne Mullin] who had just returned — [about] a father and two daughters that were blue passport Americans, and a mother who had a permanent residence, a Green Card. The daughter was very ill. And they thought, that if we couldn't get her out of there, that she would lose her legs. I got a call on Saturday morning, that we were too late, that she didn't lose her legs. She lost her life, waiting. There are now two Americans, instead of three."

Glenn showered his audience with gratitude, repeating that "well over 5000" lives have already been saved because of their incredible generosity, but lamented that there are still thousands more people yet to be saved.

Watch the video clip below to hear more updates from Glenn:


To donate to these rescue efforts, visit or

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.