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Glenn Beck: Peter Schiff on the economy

March 17, 2008
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The Glenn Beck Program


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The Armageddon Gang

GLENN: Peter Schiff, not one of the most optimistic men I've ever met in my life. He has been a bull even when bulls weren't cool and now he's -- you know, now everybody seems to be turning into a bull -- I'm sorry, a bear, yeah. He was a bear when bears weren't cool. Peter, how are you, sir?

SCHIFF: I'm fine but, you know, I am optimistic on a lot of things. I'm just not optimistic on the U.S. economy or U.S. dollars in unlimited assets but there's a whole world out there that I am optimistic on.

GLENN: Give me something you're optimistic on.

SCHIFF: Well, I mean, you know, I'm optimistic on foreign economies, on foreign currencies, on precious metals, on commodities. You know, so I'm not negative on everything.

GLENN: How about the new Indiana Jones movie this summer? Is it going to be good?

SCHIFF: I have no clue. I haven't seen one of those movies in a long time. But probably, I mean, that's one thing America still does manage to make and export to the rest of the world. That's entertainment.

GLENN: We're not really that good at it anymore but that's a different story. So Peter, what is the mood, what is the mood down, you know, in the Wall Street area today?

SCHIFF: Well, these guys are still in denial on what's going on. Obviously there's some people at Bear Stearns that are not very happy to get $2 a share for their stock although, you know, the whole thing is ridiculous because, you know, $30 billion of this deal is being financed by the Federal Reserve which means Americans are going to have to foot the bill for this buyout even though J.P. Morgan, you know, gets the cream of the crop there. They get all the assets. It's American savers not only just Americans but people all around the world who are unfortunate enough to have U.S. dollars who are going to be stuck with this bill because we're paying for it with inflation. The Fed is debasing our money and the cost of living is going up as a result of these type of bailouts and it's going to continue to go up.

GLENN: So Peter, let me ask you this question because I'm seeing now in foreign press, I'm seeing now that the other countries, especially in Europe, are saying that we are intentionally debasing our money, that they think that we are, we're trying to devalue the dollar.

SCHIFF: Whether we're trying or not, the dollar is going to go down based on what we're doing. Obviously I made the analogy in my book, you know, Crash Proof that if you're a student and you don't study for your exams and you smoke pot and you skip class, you are probably not going to get good grades. Maybe you want A's but the fact that you are not studying and skipping class means you are going to get an F. Sure, we would like a strong currency, a strong currency is definitely in our national interest but as long as we keep having huge budget deficits, we are going to have a weak currency. There is no way around it.

GLENN: So what would you do? If you are the chairman of the Fed and, you know, everybody's looking at you saying you can't let these banking institutions fail, et cetera, et cetera.

SCHIFF: Why not. Because the cost of bailing them out is worse than letting them fail. For the politicians they don't want to admit they have been lying to us all these years. They want to create the U.S. economy as if we had a good economy. You know, sub crime wasn't just a problem that happened in a healthy economy. The sub prime was the pin that predicted the bubble. The problem was we had a bubble economy in the first place. It wasn't viable. You can't have an economy where everybody runs deficits, where we just import things that we didn't make and give the world an IOU. And we all live on a giant credit card. That can't end. That can't happen forever and, you know, it's finally come to an end and so rather than trying to recreate that bubble, rather than going deeper into debt and sending everybody, you know, checks and hoping that there's a stimulus package so they go out and spend more money, we need to address the fundamentals that got us into this mess. We need to return to a nation where people save money, not spend money. And where we actually produce stuff. But, you know, the transition back to a viable economy from a bubble economy cannot happen without a recession. It can't happen without a lot of people losing money. But the Fed doesn't want to fess up and politicians don't want to admit the mess that we're in. So they want to prepare that they can make it all better by printing money and they can't.

GLENN: What does the average Joe do?

SCHIFF: Well, the average Joe has to understand the mess we're in. Just like you had the heads of Bear Stearns on television last week saying, hey, there's no problem, everything is great, these rumors are false and next thing you know the stock falls through the floor. Well, it's the same thing with the entire U.S. economy. You get, you know, the big wigs, the Ben Bernanke and you get Henry Paulson going on all the Sunday morning shows ensuring us that the fundamentals are sound, that everything is great. They are just as fundamentally sound as Bear Stearns were. So people have to understand they are getting lied to by Wall Street, they are getting lied to by the government. Most of the financial shows out there that they think they are getting advice, they are not. They are getting Wall Street propaganda. So people have to take action. They have got to do what I wrote with my book, Crash Proof. People have to get rid of the U.S. dollar or get into other currencies like the Swiss franc or the Singapore dollar or the -- they have got to buy gold.

GLENN: Peter, I'm talking about the average person. I'm talking about the guy who is bustin' his butt, the family is living paycheck to paycheck.

SCHIFF: You want the average person who has no savings.

GLENN: I'm talking about, yeah, the average person in America that is just barely squeaking by. What do they do?

SCHIFF: You know, I don't know. It's going to be tough. I mean, maybe one thing they can do is stop making their mortgage payments because that's a waste of money and maybe they can do something constructive with that money. I mean, certainly people can start stockpiling things.

GLENN: Wait, wait, wait, wait. Wait, wait, I can't just have you say on national radio stop making your mortgage payments. What do you mean by that?

SCHIFF: You are throwing money down a rat hole. It's going to be tough for people that don't have any savings and they are working paycheck to paycheck. Certainly they can stockpile things. Things are going to get more expensive. So, you know, don't wait to buy, you know, your food items, things are nonperishable, fill up your cupboards. You can buy things like razor blades and shaving cream, things you know you are going to need because they are going to get more expensive.

GLENN: I don't think we also need to be recommending to people buying razor blades.

SCHIFF: Not to slit their wrists but just so they can shave. It's going to get tough. What it means to be American, our whole standard of living is going to decline because of years of living beyond our means. It should be no surprise that when you live on debt and eventually when the bills come due and you can't afford to pay them that you are going to have to reduce your standard of living. You know, a lot of Americans are going to have to find more viable forms of employment. There's going to be a lot of Americans who are retired right now who a couple of years from now are going to be looking for work because the savings they have are just not going to be adequate to afford the higher cost of living that we're all going to be stuck with.

GLENN: You have money in a 401(k). What should be the thing that you look to do with it?

SCHIFF: If you have money in one of those, you've got to immediately look at what your options are within that 401(k). Usually if you have a 401(k), there are various choices among your investments and usually they are in mutual funds. So you want to look at your choices. You want to own foreign funds. You want to own natural resource funds, precious metals funds, foreign bond funds. You want to get as far away from U.S. dollar-based investments as you can because that's where the brunt of this is going to be borne out, in a weaker dollar. And so if you have dollars, you don't want them, you want to get to stronger currencies. I've talked to some people who have said it makes sense to actually sometimes quit a job if you don't have good enough options. If you have a big enough 401(k), it might make sense to quit, roll it over into an IRA so you can take control of it and then maybe look for a different job because some people who have been working, you know, they are four or five years away from retirement, they don't want to watch that nest egg blow up because they left it in U.S. dollars because their employers didn't give them a good enough choice with where to invest their money.

GLENN: All right, Peter. We'll talk to you again. Thanks so much for the advice and checking in. We'll go to the phones here in just a second. If we also have time, I've got to play this audio, too, of the Planned Parenthood thing that is circling now on some television programs. You have to hear that. And Jeff Foxworthy is going to be with us on Friday for a full hour. Don't miss it. We'll give you all the details coming up.

ESG scores EXPLAINED: This is why companies are going woke

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:


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.

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.

'Scheduled for EXECUTION': Unvaxxed COVID patient flown to Texas after being denied life-saving care in Minnesota

Image source: Video screenshot

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.


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.

WATCH: The Great Reset: Joe Biden and the Rise of 21st-Century Fascism

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.