Libs attacking Glenn




Glenn Beck's Real Story - How the Liberal Media Works

GLENN: Oh, is it really? Shut up. Hang on, I just got some breaking news from Stu. Really? On the front page?

STU: I don't know that it's the front page. My guess is it's not the front page.

GLENN: CNN.com.

STU: I'm going to say it's slash Glenn, I'm going to guess.

GLENN: No way on the front page of CNN.com. I can't believe it's on CNN.com/Glenn. We're talking about the media bias episode that I did last night. I did a Real Story on the media bias.

STU: CNN.com/Glenn. It is official. Congratulations. You're in the big time now. There's Drudge Report and then there's CNN.com/Glenn. That's where everyone goes.

GLENN: You know, we're not affiliated with CNN.com. I mean, we are. We work for the same company but it's a different -- CNN is a completely different world than Headline News.

STU: Right. And your show isn't actually a -- the way it's set up is weird. At the upper right-hand corner you can see the clip of the media bias.

GLENN: Do you remember the scene, you know, from every Mission Impossible where if you are caught or killed, we disavow any knowledge?

STU: Sure.

GLENN: That's pretty much me. If I'm caught or killed on anything, CNN says, Glenn Beck, we don't know, who, what?

STU: We've always had opening programming at 7:00, 9:00, midnight and 5:00.

GLENN: Oh, that's Headline News. That's another agency. So anyway, you would see that we had Noel Sheppard on last night from Newsbusters and I didn't get a chance to ask you, Noel, on the air about my cycle of how the liberal news media works. Has anyone ever called you from the New York Times and quoted Newsbusters or used the story you guys have done as the basis of a story? Like everybody does with Media Matters?


 



Noel Sheppard is an economist, business owner, and a featured writer at the prestigious American Thinker. He is also a contributing writer to the Business and Media Institute and a contributing editor for NewsBusters.

SHEPPARD: Not necessarily. I've been quoted by the New York Times at their kind of blog coverage.

GLENN: But never in a serious news story?

SHEPPARD: Nothing in a serious news piece where Noel Sheppard of Newsbusters said the following and --

GLENN: Have you ever noticed a story that you exposed being in the, let's say the editorial of the New York Times?

SHEPPARD: No chance.

GLENN: No chance? Didn't think so. Isn't that weird? But before I get to the stuff you found on Eliot Spitzer, real quick I just want you to cover a couple of things that you covered on the TV show last night. We did a story where I said -- I predicted this was going to happen. I was joking about Obama being the antichrist and these crazy people that write me e-mails. It was picked up by one blog, then it was picked up by another, then it was picked up by Keith Olbermann and then it was picked up by the New York Times in an editorial and it has become fact that I'm a bigot and called, basically called --

SHEPPARD: Even more so today than yesterday, Glenn, because yesterday I told you that if you put in "Glenn Beck, Obama, and antichrist" into Google, into a web search, you would get 744,000 hits. It's now up to 988,000. So let's just call it a million.

GLENN: Yeah, baby!

SHEPPARD: So congratulations. You should be very proud.

GLENN: Any idea how many hits it takes before it becomes absolutely diehard fact that I'm a bigot that calls Barack Obama the antichrist?

SHEPPARD: Well, I'm glad you asked that because actually one of the hits that I saw went to a sports message board. So I think once the people in sports are talking about you as a bigot, well, then it's official. Yeah, that's it.

GLENN: Why not. Hey, did you see the game last night, and have you heard about that bigot that think Obama is the antichrist?

SHEPPARD: It was kind of funny going through the some of the places that depicted you as a bigot as a result and the issue here is -- I mean, we're laughing about this but it's really not funny.

GLENN: Oh, no. No, no, no, it's not funny because it becomes fact.

SHEPPARD: No. I mean, right now you are a confirmed or affirmed bigot because of, as we discussed yesterday, 21 words taken out of an 80-word question that you asked rather comically and even the way you asked that question of Hagee, you were really being derogatory and derisive of people who actually believe that Obama is actually the antichrist. Yet they took this 21 words and now as a result all over the Internet you're a bigot.

GLENN: Right.

SHEPPARD: This is what these two entities, Think Progress and Media Matters, this is what they do 24 hours a day, seven days a week.

GLENN: And you told me they not only took it from an 80 word question down to 20 and the way they edited it. What was that piece of information?

SHEPPARD: Yeah, the little snippet that they took at Think Progress, you said there are people, and they said this about Bill Clinton, that actually believe he might be the antichrist. Well, they even siphoned that down to, there are people, they say this about Bill Clinton, he might be the antichrist. Now, they left out "That actually believe."

GLENN: Right.

SHEPPARD: That's important because when you were saying "That actually believe," you were mocking folks that believe such nonsense.

GLENN: Right, right.

SHEPPARD: But what's interesting here is Think Progress poorly transcribed your words.

GLENN: They didn't poorly -- no. They poorly transcribed -- it was an honest mistake. For those people who actually believe that was an honest mistake, God bless you.

Real quick, Noel, I've only got 30 seconds. Tell me what you found on the media with Eliot Spitzer today.

SHEPPARD: With three evening broadcasts last night, only two of them mentioned that he was a Democrat.

GLENN: Was it NBC or CBS that didn't mention he was a Democrat?

SHEPPARD: CBS did. ABC and NBC did not, although there was kind of a screen cap where you saw a D next to his name very briefly.

GLENN: Yeah, yeah.

SHEPPARD: The other thing that was interesting is none of them discussed the possible connection or the impact to the upcoming presidential election, which is absurd given the fact that he, of course, is from New York and has ties to Hillary Clinton. Nobody discussed that.

GLENN: Right. And he's a superdelegate who's voting for Hillary Clinton. Noel Sheppard from Newsbusters, thank you, sir.

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

Matt Winkelmeyer/Getty Images for American Express

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.

RELATED: You'll Never Guess Who Wrote the Racist Message Targeting Black Air Force Cadets

“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."

What happened?

MSNBC's Katy Tur didn't bother to hide her pro-gun control bias in an interview with Texas Attorney General Ken Paxton in the wake of the Santa Fe High School killings.

RELATED: Media Are Pushing Inflated '18 School Shootings' Statistic. Here Are the Facts.

What did she ask?

As Pat pointed out while sitting in for Glenn on today's show, Tur tried to “badger" Paxton into vowing that he would push for a magical fix that will make schools “100 percent safe." She found it “just wild" that the Texas attorney general couldn't promise that schools will ever be completely, totally safe.

“Can you promise kids in Texas today that they're safe to go to school?" Tur pressured Paxton.

“I don't think there's any way to say that we're ever 100 percent safe," the attorney general responded.

What solutions did the AG offer?

“We've got a long way to go," Paxton said. He listed potential solutions to improve school safety, including installing security officers and training administrators and teachers to carry a gun.

Pat's take:

“Unbelievable," Pat said on today's show. “Nobody can promise [100 percent safety]."

Every president from George Washington to Donald Trump has issued at least one executive order (with the exception of William Harrison who died just 31 days into his presidency) and yet the U.S. Constitution doesn't even mention executive orders. So how did the use of this legislative loophole become such an accepted part of the job? Well, we can thank Franklin Roosevelt for that.

Back at the chalkboard, Glenn Beck broke down the progression of the executive order over the years and discussed which US Presidents have been the “worst offenders."

RELATED: POWER GRAB: Here's how US presidents use 'moments of crisis' to override Constitutional law

“It's hard to judge our worst presidential overreachers on sheer numbers alone," said Glenn. “However, it's not a shock that FDR issued by far the most of any president."

Our first 15 presidents issued a combined total of 143. By comparison, Franklin D. Roosevelt issued 3721, more than twice the next runner up, Woodrow Wilson, at 1803.

“Next to FDR, no other president in our history attempted to reshape so much of American life by decree, until we get to this guy: President Obama," Glenn explained. “He didn't issue 3000, or even 1800; he did 276 executive orders, but it was the power of those orders. He instituted 560 major regulations classified by the Congressional Budget Office as having 'significant economic or social impacts.' That's 50 percent more regulations than George W. Bush's presidency — and remember, everybody thought he was a fascist."

President Obama blamed an obstructionist Congress for forcing him to bypass the legislative process. By executive order, President Obama decreed the U.S. join the Paris Climate Accord, DACA, the Clean Power Plan and transgender restrooms. He also authorized spying in US citizens through section 702 of FISA, used the IRS to target political opponents and ordered military action in Libya without Congressional permission.

All of these changes were accepted by the very people who now condemn President Trump for his use of executive orders — many of which were issued to annul President Obama's executive orders, just as President Obama annulled President Bush's executive orders when he took office … and therein lies the rub with executive orders.

“That's not the way it's supposed to work, nor would we ever want it to be," said Glenn. “We have to have the Constitution and laws need to originate in Congress."

Watch the video above to find out more.

Six months ago, I alerted readers to the very attractive benefits that the TreasuryDirect program offers to investors who are defensively sitting on cash right now.

Since then, those benefits have continued to improve. Substantially.

Back in November, by holding extremely conservative short-term (i.e., 6-months or less) Treasury bills, TreasuryDirect participants were receiving over 16x more in interest payments vs keeping their cash in a standard bank savings account.

Today, they're now receiving over 30 times more. Without having to worry about the risk of a bank "bail-in" or failure.

So if you're holding cash right now and NOT participating in the TreasuryDirect program, do yourself a favor and read on. If you're going to pass on this opportunity, at least make it an 'eyes-wide-open' decision.

Holding Cash (In Treasurys) Now Beats The Market

There are many prudent reasons to hold cash in today's dangerously overvalued financial markets, as we've frequently touted here at PeakProsperity.com.

Well, there's now one more good reason to add to the list: holding cash in short-term Treasurys is now meeting/beating the dividend returns offered by the stock market:

"Cash Is King" Again - 3-Month Bills Yield More Than Stocks (Zero Hedge)
'Reaching for yield' just got a lot easier...
For the first time since February 2008, three-month Treasury bills now have a yield advantage over the S&P; 500 dividend yield (and dramatically lower risk).
Investors can earn a guaranteed 1.90% by holding the 3-month bills or a risky 1.89% holding the S&P; 500...

The longest period of financial repression in history is coming to an end...

And it would appear TINA is dead as there is now an alternative.

And when you look at the total return (dividends + appreciation) of the market since the start of 2018, stocks have returned only marginally better than 3-month Treasurys. Plus, those scant few extra S&P; points have come with a LOT more risk.

Why take it under such dangerously overvalued conditions?

If You Can't Beat 'Em, Join 'Em

In my June report Less Than Zero: How The Fed Killed Saving, I explained how the Federal Reserve's policy of holding interest rates at record lows has decimated savers. Those who simply want to park money somewhere "safe" can't do so without losing money in real terms.

To drive this point home: back in November, the average interest rate being offered in a US bank savings account was an insutling 0.06%. Six months later, nothing has changed:

(Source

That's virtually the same as getting paid 0%. But it's actually worse than that, because once you take inflation into account, the real return on your savings is markedly negative.

And to really get your blood boiling, note that the Federal Reserve has rasied the federal funds rate it pays banks from 1.16% in November to 1.69% in April. Banks are now making nearly 50% more money on the excess reserves they park at the Fed -- but are they passing any of that free profit along to their depositors? No....

This is why knowing about the TreasuryDirect program is so important. It's a way for individual investors savvy enough to understand the game being played to bend some of its rules to their favor and limit the damage they suffer.

Below is an updated version (using today's rates) of my recap of TreasuryDirect, which enables you to get over 30x more interest on your cash savings than your bank will pay you, with lower risk.

TreasuryDirect

For those not already familiar with it, TreasuryDirect is a service offered by the United States Department of the Treasury that allows individual investors to purchase Treasury securities such as T-Bills, notes and bonds directly from the U.S. government.

You purchase these Treasury securities by linking a TreasuryDirect account to your personal bank account. Once linked, you use your cash savings to purchase T-bills, etc from the US Treasury. When the Treasury securities you've purchased mature or are sold, the proceeds are deposited back into your bank account.

So why buy Treasuries rather than keep your cash savings in a bank? Two main reasons:

  • Much higher return: T-Bills are currently offering an annualized return rate between 1.66-2.04%. Notes and bonds, depending on their duration, are currently offering between 2.6% - 3.1%
  • Extremely low risk: Your bank can change the interest rate on your savings account at any time -- with Treasury bills, your rate of return is locked in at purchase. Funds in a bank are subject to risks such as a bank bail-in or the insolvency of the FDIC depositor protection program -- while at TreasuryDirect, your funds are being held with the US Treasury, the institution with the lowest default risk in the country for reasons I'll explain more in a moment.

Let's look at a quick example. If you parked $100,000 in the average bank savings account for a full year, you would earn $60 in interest. Let's compare this to the current lowest-yielding TreasuryDirect option: continuously rolling that same $100,000 into 4-week T-Bills for a year:

  1. Day 1: Funds are transferred from your bank account to TreasuryDirect to purchase $100,000 face value of 4-week T-Bills at auction yielding 1.68%
  2. Day 28: the T-Bills mature and the Treasury holds the full $100,000 proceeds in your TreasuryDirect account. Since you've set up the auto-reinvestment option, TreasuryDirect then purchases another $100,000 face value of 4-week T-Bills at the next auction.
  3. Days 29-364: the process repeats every 4 weeks
  4. Day 365: assuming the average yield for T-Bills remained at 1.68%, you will have received $1,680 in interest in total throughout the year from the US Treasury.

$1,680 vs $60. That's a 27x difference in return.

And the comparison only improves if you decide to purchase longer duration (13-week or 26-week) bills instead of the 4-week ones:

Repeating the above example for a year using 13-week bills would yield $1,925. Using 26-week bills would yield $2,085. A lot better (34x better!) than $60.

Opportunity Cost & Default Risk

So what are the downsides to using TreasuryDirect? There aren't many.

The biggest one is opportunity cost. While your money is being held in a T-Bill, it's tied up at the US Treasury. If you suddenly need access to those funds, you have to wait until the bill matures.

But T-Bill durations are short. 4 weeks is not a lot of time to have to wait. (If you think the probability is high you may to need to pull money out of savings sooner than that, you shouldn't be considering the TreasuryDirect program.)

Other than that, TreasuryDirect offers an appealing reduction in risk.

If your bank suddenly closes due to a failure, any funds invested in TreasuryDirect are not in your bank account, so are not subject to being confiscated in a bail-in.

Instead, your money is held as a T-Bill, note or bond, which is essentially an obligation of the US Treasury to pay you in full for the face amount. The US Treasury is the single last entity in the country (and quite possibly, the world) that will ever default on its obligations. Why? Because Treasurys are the mechanism by which money is created in the US. Chapter 8 from The Crash Course explains:

As a result, to preserve its ability to print the money it needs to function, the US government will bring its full force and backing to bear in order to ensure confidence in the market for Treasurys.

Meaning: the US government won't squelch on paying you back the money you lent it. If required, it will just print the money it needs to repay you.

So, How To Get Started?

Usage of TreasuryDirect is quite low among investors today. Many are unaware of the program. Others simply haven't tried it out.

And let's be real: it's crazy that we live in a world where a 1.68-2.09% return now qualifies as an exceptionally high yield on savings. A lot of folks just can't get motivated to take action by rates that low. But that doesn't mean that they shouldn't -- money left on the table is money forfeited.

So, if you're interested in learning more about the TreasuryDirect program, start by visiting their website. Like everything operated by the government, it's pretty 'no frills'; but their FAQ page addresses investors' most common questions.

Before you decide whether or not to fund an account there, be sure to discuss the decision with your professional financial advisor to make sure it fits well with your personal financial situation and goals. (If you're having difficulty finding a good one, consider scheduling a free discussion with PeakProsperity.com's endorsed financial advisor -- who has considerable experience managing TreasuryDirect purchases for many of its clients).

In Part 2: A Primer On How To Use TreasuryDirect, we lay out the step-by-step process for opening, funding and transacting within a TreasuryDirect account. We've created it to be a helpful resource for those self-directed individuals potentially interested in increasing their return on their cash savings in this manner.

Yes, we savers are getting completely abused by our government's policies. So there's some poetic justice in using the government's own financing instruments to slightly lessen the sting of the whip.

Click here to read Part 2 of this report (free executive summary, enrollment required for full access)

NOTE: PeakProsperity.com does not have any business relationship with the TreasuryDirect program. Nor is anything in the article above to be taken as an offer of personal financial advice. As mentioned, discuss any decision to participate in TreasuryDirect with your professional financial advisor before taking action.