Smarter than Glenn?


Sherry Cooper, Chief Economist at BMO Capital Markets

GLENN: Let me go to Sherry Cooper. She's a chief economist at BMO Capital Markets. Sherry, how are you?

COOPER: Well, I'm fine but this is really a rough day, I can tell you. Markets have sold off very sharply and there's great concern about what has turned out to be the most pervasive financial crisis in decades.

GLENN: You know, I said I don't know when, a long time ago we could be facing something that is akin to the Great Depression if there is significant downward pressure on a market this fragile and everybody says it's crazy. Now Alan Greenspan comes out where he says that this could be the biggest financial crisis since World War II. Well, gee, that's awfully darn close.

COOPER: Yeah.

GLENN: To where we were.

COOPER: Even the Fed has been doing research into the Great Depression and what actions could have been taken by the Federal Reserve at that time to have mitigated the situation, and one of the reasons that the Fed is doing what it's doing in terms of providing liquidity now for securities dealers is because the Fed estimates that about a third of all the banks that went under during the Depression actually would not have disappeared if there had been a lending facility available to them.

GLENN: But Sherry, here's the problem. I mean, first of all, socialism is socialism. The second thing is, you know, everybody says that, oh, there just has to -- CNBC today they're saying, "Oh, well, gee, you know, every bubble has to have one big purge and Bear Stearns was it." Last week, at this time last week nobody even was recognizing that Bear Stearns has a problem. There was whispers of it but it wasn't --

COOPER: No, absolutely. I mean, what we saw is there had been rumors about Bear, Bear denied the rumors which turned out to be true, but there really hadn't been a material change in their balance sheet but rumors become self-fulfilling when they cause a run on the bank. And what had happened is their customers absolutely wanted their money back. And when that happens, there's no institution that can survive it unless they can go to the Central Bank and borrow the money to meet with interest.

GLENN: So here's my question. Last week there was just rumors about Bear Stearns and it -- I mean, Bear Stearns just doesn't collapse, and it did. All of these institutions say, oh, no, we're fine. You've got extra fear in the market now. These are all dominoes.

COOPER: Yeah.

GLENN: Right next to each other. What is to prevent us or what is to give us any reassurance that there are a lot more dominoes to fall?

COOPER: The Fed. That's exactly what they did last night. What they said was that anybody who wants their money back, be it from Lehman Brothers or Merrill Lynch, the Fed is going to make sure they get their money back and so they have a less likelihood therefore of actually demanding their money back. It's psychology. Will it work? We're about to see.

GLENN: Okay. Then tell me what the means. I'm reading, this is in London Telegraph and it says Asian Mideast European investors stood aside at last week's auction, ten-year U.S. Treasury notes saying this is a disaster. We may be close to the point where uglier consequences of benign neglect towards the currency are revealed. Rightly or wrongly, the view has taken hold that Washington is cynically debasing the coinage hoping to export its day of reckoning through beggar thy neighbor policies. What is Europe afraid? What does this mean?

COOPER: Well, we've seen a surge in the Euro and the Yen, not the Canadian dollar interestingly. And that's going to be very difficult for those economies. Those economies as well that are pegged to the U.S. dollar like China are experiencing enormous inflation. The U.S. dollar is falling. The Fed is running the risk of triggering significant inflation pressure down the road. But at this stage they are -- they consider that to be secondary risk. Their number one concern right now is to the lender of last resort to prevent a global financial crash.

GLENN: And when you're saying that, are you saying a global market crash akin to the Great Depression?

COOPER: Well, I mean, of course. Now, there are a lot of things that have changed since then. For example, there is deposit insurance. As well commercial banks, particularly Canadian charter banks have very strong capital positions. They are regulated very highly and so it is very unlikely that we would see depositors go to institutions with deposit insurance and demand their money back. There's no need to. Their money is fine.

GLENN: Right. But their dollar may be worthless.

COOPER: Well, our dollar isn't worth less but the U.S. dollar has declined for sure.

GLENN: Right.

COOPER: And for good reason. Look what's going on in the U.S. The U.S. economy is in recession, the U.S. has enormous trade and current account deficits and foreigners have been financing this.

GLENN: Right.

COOPER: And there is a real question as to how much more foreign money is going to move into the U.S. Government bond market to help finance these deficits.

GLENN: Okay. Sherry, let me ask you this one more question and then this may be the dumbest question, all of these questions may be the dumbest questions that you receive all day, but I just last week took my money and I went for the index and I'm betting on the down because I just, I think we're in real, real trouble. What made me break out into a cold sweat today is that there's so much fear in the market, what would stop people from short-selling banks? What would stop people from trying to make money on the down side --

COOPER: That's what people are doing. That's exactly what people are doing. They are preying on the weakest institutions and public companies. And that's not just banks, by the way. Ford Motor Company is a great example. People -- there is a concept of insurance against declining prices of stock.

GLENN: Right:

COOPER: And that's called a credit defense swap. It's just an insurance policy that you can buy to pay off any loss that you would have in owning a particular company. Well, we can look at those credit default spreads which is really the premium to see how risky the market is perceiving a company to be. Well, there are a number of companies that have seen enormous increases in this premium just in the last couple of weeks.

GLENN: Can you give me the top couple?

COOPER: Well, the only one I can remember right now is Ford, but no doubt, you know -- I mean, these lists are available. They're out there. It's public information. And what's happening is investors, mostly hedge funds and institutional investors, are shorting these stocks, which means that, as you say in capitalism, people prey on the weakest of companies and that just makes those companies even weaker still. It drives down the price of their stocks even further.

GLENN: I just, I was --

COOPER: And even more selling.

GLENN: Right. I was concerned in particular about the financial institutions this week because, you know, I mean, that's what the Fed is really trying to -- I mean, they can't have the financial institutions break down and have another run on the bank. I mean, how long, how long can you keep going with dominoes falling before the Fed says, okay, I've got no more money, before our money really is worth less?

COOPER: Well, it is worst less but it's not worthless, if you know what I mean.

GLENN: I do.

COOPER: We have more to go but will it work is the question. I think it will work. I don't think the world's coming to an end. I don't think there's going to be literally a significant global Depression but for sure there's a recession in the U.S. and there's a risk that it could be quite deep and long.

GLENN: Okay. Thank you very much. Sherry, appreciate it. Sherry Cooper, chief economist at BMO Capital Markets.

Chances are, you've noticed that many large companies have decided to become woke activists, despite the fact that alienating half your customer base is a terrible business strategy.

This woke shift isn't being driven by the usual market forces. It's the Great Reset's ESG score system at work, Glenn Beck said on "GlennTV." Under the “environmental, social, and governance” score system, companies will no longer make decisions based on what you, the consumer, want. Now, it's all about what those in power deem society should want. And it's not just businesses that are affected, he explained.

Watch the video clip below or find the full episode of "GlennTV" here:


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11 things you can do to help stop the Great Reset

Photo by Arthur Franklin on Unsplash

The foundation of the American way of life is freedom from tyranny, which can only exist in a nation that defends the rights, powers, and property of individuals and families. Over the past two centuries, the greatest threats to liberty have come from governments, both foreign and domestic. And from the beaches of Normandy to the civil rights movement of the 1960s, Americans have repeatedly conquered the challenges placed before them by those seeking to extinguish or limit individual rights.

However, over the past few years, a new, potentially catastrophic danger has emerged, but not primarily from the halls of Congress or state capitols. This threat to freedom has largely emanated from the board rooms of the world’s wealthiest, most powerful corporations, large financial institutions, central banks, and international organizations such as the United Nations and World Economic Forum.

In an attempt to secure vast amounts of wealth and influence over society, corporate CEOs, bankers, and investors, working closely with key government officials, have launched a unified effort to impose environmental, social, and governance (ESG) standards on most of the industrialized global economy. ESG standards are also referred to as “sustainable investment” or “stakeholder capitalism.” According to a report by KPMG, thousands of companies, located in more than 50 countries, already have ESG systems in place, including 82 percent of large companies in the United States.

ESG standards are designed to create a “great reset of capitalism” and to “revamp all aspects of our societies and economies, from education to social contracts and working conditions.” ESG supporters plan to enact these radical changes by using ESG schemes to alter how businesses and investments are evaluated, so that instead of focusing on the quality of goods and services, profits, and other traditional economic metrics, companies — including financial institutions — are evaluated largely on their commitment to social justice and environmental causes and then assigned scores so that companies can be compared, rewarded, or potentially punished.

Supporters of the movement for a Great Reset also plan on using technology to limit free speech and privacy rights, and they support creating vast new government programs that are designed to transform the Western economy via the Green New Deal, European Green Deal, a federal jobs guarantee, and basic income programs.

Together, the proposals that make up the Great Reset represent the most serious threat to freedom in the West since the fall of the Soviet Union and perhaps since World War II. But there is hope. We can stop the Great Reset, but only if we act quickly and with great conviction.

Below are 11 steps you can take to push back against the Great Reset. These steps represent a powerful bottom-up, grassroots approach to the Great Reset’s top-down plan to remake the world. Although many of these steps won’t be easy for everyone to take, they are essential for ensuring that our children and grandchildren will grow up in a world that protects the rights of individuals and empowers families, rather than wealthy special interests, financial institutions, and large corporations.

1. Live Not by Lies: The time for remaining quiet is over. When you hear or see something that you know to be false, speak up. Be kind, generous, and compassionate, but do not, under any circumstances, allow lies to infect your life. Further, do not support organizations, publications, politicians, schools, or any other institutions that regularly promote false claims.

2. Buy Local: The reason the Great Reset is so powerful is because so many of us have become totally dependent on large multinational corporations. They can be easily manipulated in a way that small, local businesses cannot. Learn to buy local, whenever possible, even if it means spending more money on your purchases. Yes, big corporations offer conveniences and low prices that many small businesses can’t compete with, but those benefits come with a great cost: your freedom.

3. Bank Local: Big financial institutions and banks are driving much of the Great Reset movement. They have started to use their incredible wealth and power to alter society by financing only those businesses who agree to the terms of the Great Reset. This problem is going to get worse, so it’s important to find local banks and credit unions you can trust and who refuse to utilize ESG scores and other discriminatory schemes.

4. Support Local Farms: If you live in an area that has local farms and farmer’s markets, consider buying as many of your groceries as possible from farmers. In the future, food production and distribution are going to change dramatically. It’s important that you support local farmers and build relationships with individuals who can provide you with the goods you need in a time of crisis. One of our main goals must be to make local communities as self-sufficient as possible, and that cannot happen unless we support local farms.

5. Be Vocal: After starting to shop and bank locally, be sure to tell big financial institutions and corporations why they have lost your business. They need to know that their decisions have serious consequences.

6. Run for Local Government: Local and state governments will soon be our most important defense against the Great Reset. Consider running for your local school board, zoning board, or even for a state legislative office. If you don’t feel qualified for these positions, find someone who shares your values and help them run for office. If we don’t have control of our local governments, we won’t be able to halt the Great Reset.

7. Demand That Your State Pass Laws Against ESG Scores: In America, states have a tremendous amount of power to slow the Great Reset and protect their citizens from abuses by large corporations, banks, and international institutions. They can do this by passing laws that make the use of ESG metrics and other, similar systems by financial institutions illegal, when used as a precondition for banking services, financing, investment, etc. ESG scores are, by definition, discriminatory and should be made illegal by state lawmakers who care about protecting their citizens’ rights.

8. Make Responsible Spending a Key Issue for Politicians: In recent years, politicians on the ideological left and right have totally abandoned responsible fiscal policy in favor of vast money printing and loose monetary policies. The many trillions of dollars that have been “printed” in recent years put our economy at risk and are being used to fuel the Great Reset. Without these trillions of dollars of printed money, it would be exceptionally difficult for governments and financial institutions to buy off corporations.

9. Organize Anti-Great Reset Groups: No matter where you live, there are Americans in your community who do not support the Great Reset — Republicans, Democrats, and independents alike. Find like-minded neighbors and organize a local, peaceful resistance. Find people you can trust and agree to support one another when times get tough. Now, more than ever, we need to develop dependable communities.

10. Buy Property and Diversify: Property ownership is going to become increasingly more difficult in the months and years to come. It’s important that you work with a qualified financial adviser to help you figure out the best way to buy property and diversify your investments. Buying hard assets, including real estate and precious metals, could be a good way for you to protect against the Great Reset and a possible financial collapse. If you already own property, resist selling it to large corporations and financial institutions, whenever possible. (This is not financial advice, and I’m not a financial adviser. Talk to an expert you trust before taking action!)

11. Make the Great Reset a Litmus Test for Politicians: Before supporting politicians, find out if they know what the Great Reset is and what they plan to do to stop it. If they aren’t familiar with the Great Reset or don’t have a plan to halt it, then demand that they learn about the Great Reset and develop a proposal to prevent it. Political leaders who refuse to take the Great Reset seriously do not deserve your support. This is the key issue of our generation.

Scott Quiner was transferred over the weekend to a hospital in Texas after doctors in Minnesota threated to terminate life support measures as he battled severe complications from COVID-19. Scott's wife, Anne Quiner, appealed to the courts for a restraining order to prevent the hospital from pulling the plug as she sought a new facility to provide medical care for her husband. Scott was unvaccinated when he tested positive for COVID-19 in late October, 2021.

Anne and her attorney Marjorie Holsten joined "The Glenn Beck Program" Thursday to describe their frantic efforts to halt the hospital's decision to turn off Scott's life support — allegedly because he was unvaccinated — and just how difficult it was to get him the medical treatment he needed.

"It was absolutely stunning," Holsten told Glenn. "[Anne] came in and she has this order, I saw the screenshot from the [online medical] chart that said [Scott] is basically scheduled for execution at noon the following day."

According to Holsten, the Minnesota hospital responded to her appeal for a restraining order by claiming that the "position" to keep Scott alive "is not supported by medical science or Minnesota law. As a result, Mercy will ask the court to issue an order that Mercy has the authority to discontinue Mr. Quiner's ventilator and proceed with his medical care plan."

"The 'medical care plan' was the plan to discontinue the ventilator at noon, which leads to death very shortly. So that was at 10 o'clock, but then at 11 o'clock, before the 12 o'clock execution, the judge did, in fact, sign an order saying the hospital is restrained from pulling the plug," she added.

Anne told Glenn that doctors in Texas were shocked by Scott's condition after he arrived from the Minnesota hospital. Not only had he been given dangerous drugs, he was also found to be “severely malnourished."

"The doctor [in Texas] spent two hours with Scott and when he came back out, he said, 'I don't know how he even made it, how he even survived that other hospital ... but I will do everything I can to try to save his life,'" Anne explained.

"And the doctor [in Texas] said Scott was the most undernourished patient he has ever seen," Holsten added.

"Glenn, we are first bringing this battle to the court of public opinion," Holsten continued. "What we are showing the world is that Scott was near death because of the protocols used in that [Minnesota] hospital, but now he is recovering. He is getting better.... Now, we're not planning a funeral, we're planning for his release."

Watch the video clip below for more details.

If you'd like to help support the Quiner family, please consider making a donation to GiveSendGo.com/Anne.


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The Great Reset is not just an elitist idea — it’s not even a socialist utopian concept. It’s a real-world fascist threat to every American from Wall Street to Main Street. It’s happening now in policies and cultural shifts big and small, obvious and subtle, from environmental promises to corporations going woke. But the mainstream media, global elites, and politicians brushed off the Great Reset as “nothing to see here.” Another myth they push: “The World Economic Forum is just a conference for elites who have no REAL power.”

Glenn Beck first exposed the Great Reset almost two years ago, and the globalist cries of "conspiracy theorist" soon followed. They said he believed the WEF was a “master cabal calling the shots from some evil underground lair.” But Glenn Beck never said that. Instead, he uncovered the true intentions of global leaders in finance and politics by simply highlighting their own words.

This week, the same global elites are doubling down on their agenda at the World Economic Forum’s Davos Agenda virtual event. But still, the global elites — like Twitter’s Jack Dorsey — are trying to downplay the WEF’s influence to stop people like us from interfering with their plans. The oligarchy will prosper in the new world order they’ve designed. You will not.

So Glenn unveils a master chalkboard based on his best-selling new book to outline the threats from globalists and why we must stop their agenda if we hope to keep the precious freedoms we still have.

Watch the full episode of "GlennTV' 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.