Glenn Beck: Uh oh: Treasury is 'puzzled'

GLENN: I love this story. The Federal Reserve is puzzled by yield curve steepening. So you know, I'm talking completely out of my butt when it comes to the yield curve. Two years ago I didn't know jack about the economy. So take it for what it's worth. But basically it's like if you understand your own credit card. You have good credit, your yield curve is down. You have bad credit, yield curve is up. In other words, the bank is saying to you, "I don't think he's going to pay it back. So we're going to charge him 25% interest." Or, "No, he's good, he pays all of his bills on time; we'll charge him 6% interest." That's what it is, just on the federal government.

See, this is the thing. All of the people think, you know, all the treasury and all these stupid people, they are all walking around thinking that the laws of economics that work at your house somehow or another don't apply. It's like a parallel universe in Washington. It's just like a giant black hole. "Wouldn't it be neat... my gosh, why didn't we build the Super Collider underneath the Beltway in Washington? You know they are concerned about the supercollider, that it might open up, you know, space and there might be a black hole? I mean, if there's one place to be sucked into a black hole, shouldn't it be Washington? No, see, I'm just sayin'. Shouldn't it be ‑‑ I mean, it would be ‑‑ okay, sure, it will destroy the whole Earth and, you know, time as we know it will stop, yada, yada, yada, whatever. But wouldn't it be great knowing we're all going to die but they are going to die first? I mean, as we're all being pulled into a black hole, we're like, yeah, but congress is there first! Being crushed into a little teeny gravitational... anyway. S o I'm sorry. I digress.

So anyway, they're saying that, with the yield curve that bonds, that people are buying us, they are demanding a higher interest rate. When we sell our treasuries, which means our debt, when we sell our treasuries, people around the world are going, "I don't know. I think I'd rather ‑‑ I'm going to probably put my money over here. It might be safer if I just put it under this rock right now." And so we're having to raise our yield. We're starting to say, "No, no, no. Don't just put it under the rock. Invest in us because we're completely stable."

So here's what the treasury says. They're puzzled by the yield curve steepening. The Federal Reserve is studying significant moves in the U.S. Government bond market last week that could have big implications for the central bank's strategy to combat the country's recession. But the Fed ‑‑ I love this ‑‑ is not really sure what's driving the sharp rise in long dated bond yields and especially a widening gap between short and long‑term yields. So in other words, people are like, "Okay, I won't put my dollar under this rock. I'll give it to you, but I want it back in two years, okay? Two years. That's all. I want it back in two years." No, no, no, let's put it in 30 years. "I'm going to put it under the rock."

I mean, common sense will tell you this is, people don't trust that we're not going to dishonor their money. I mean, it's like investing in AIG. It's like when Barney Frank said, "Jeez, there's no problem with Fannie and Freddie. What are you talking about? It's a great investment and I would invest in that more." Yeah, right. Thank you for that. It's the same thing that's happening now except on a governmental level. Why? Why? How could that have possibly happened? Oh, I just ‑‑ try this crazy theory out. All of these things that were bad, okay, we didn't actually fix them. We just shifted the problem to the federal government and the treasury. Now, why would the treasury be having problems selling bond? That just doesn't ‑‑ it makes total sense if you use your brain! But the Fed, they can't figure it out. They said, "Well, it could be that the economy is getting so good that people just want to, you know, do other things like investing in, you know..." food staples? Fallout shelters? Guns? Bullets? What? "You know, good stuff that's... because things are so incredibly good." Yeah, okay. What are they smoking? Is dope ‑‑ I mean, I know that the Fed can say, "Hey, a banker's privilege," and then they don't have to answer any questions? Is it like that, too? Are they shooting heroin or smoking dope or something there? Is that legal there? "Bankers privilege." No, we're all on massive quantities of drugs. They ‑‑ I love this. Does it mean that the U.S. Treasury yields and steepening yield curves suggest an economic recovery is more certain, meaning less need for safe haven government bonds and a healthy demand for credit? If so, there might be less need for the Fed to expand the money supply by borrowing more U.S. Treasuries. Or... does the steepening yield curve mean investors are worried about the deterioration in the U.S. fiscal outlook or the potential of collapse in the U.S. dollar? "One of the two. I'm not really sure which one." Oh, it's got to be that everything's getting great; let's print more money. Jeez, what's wrong with us? At what point do we say common sense?

Elon Musk calls Biden a 'damp sock puppet,' says the president treats Americans 'like fools'

Photo by FREDERIC J. BROWN/AFP via Getty Images

Elon Musk, co-founder and CEO of Tesla, took to Twitter on Thursday to remind President Joe Biden that he left a certain key player out of a discussion about the future of building electric vehicles in the United States.

After meeting with General Motors Chair and CEO Mary Barra and Ford Motor Co. CEO Jim Farley, among others — but not including Musk — at the White House, Biden tweeted, "I meant it when I said the future was going to be made right here in America. Companies like GM and Ford are building more electric vehicles here at home than ever before."

Musk first responded by tweeting, "Starts with a T, Ends with an A, ESL in the middle."

Later in the thread, Musk seemed to agree with Twitter user Kim Paquette by tweeting: "Biden is treating the American public like fools."

Finally, Musk tweeted his pièce de résistance (at least for the day): "Biden is a damp [sock] puppet in human form."

This isn't the first time Musk has taken issue with the current administration. In December, he railed against Biden's "Build Back Better Act", saying he's deeply concerned about how the multitrillion-dollar bill would increase the national debt. In October, Musk slammed the administration's proposed tax on unrealized capital gains, warning Americans that "eventually, they run out of other people's money and then they come for you."

And who could forget Musk's spectacular Twitter spat with Sen. Elizabeth Warren (D-Mass)? In case you missed it, Warren called Musk a freeloader after Time magazine named him "Person of the Year." Musk shot back with, "If you opened your eyes for 2 seconds, you would realize I will pay more taxes than any American in history this year. Don’t spend it all at once … oh wait you did already."

On his radio program Thursday, BlazeTV's Glenn Beck spoke out in Musk's defense. He praised Musk's "American spirit," noting the South African-born American entrepreneur's humble beginnings.

"Do you know that when Elon Musk and his brother launched their first company, Zip2, Elon was living in his office and he was showering at the YMCA? Did you know that? But he was in America. He's got more American spirit in him than most people I see every day. He's gone from showering at the YMCA to now mapping out a trip to Mars and he'll do it. Why? Because he has that American spirit in him."

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When Biden was given the keys to the Oval Office in January 2021, gas was $2.50 a gallon and the inflation rate was 1.4%. Today gas is at $3.32 a gallon and the inflation rate is at 7% ... and STILL RISING. These are just 12 months of numbers, but we’re clearly in a worrying decline. While the economy has opened up more post-COVID, it’s not just getting worse — we’re going IN REVERSE.

On "Glenn TV" Wednesday, Glenn Beck heads to the chalkboard (and the very top of his studio ceiling) to explain what’s happening to inflation and why it’s so hard for your family to afford basic goods and groceries. It’s not “corporate greed,” as Democrats have been telling you. The Biden administration wants to continue to spend trillions of dollars to “reinvent capitalism,” but that’s in addition to the trillions that are being pumped out IN THE SHADOWS.

Glenn exposes what the Fed has been doing behind closed doors and shows us the tidal wave that’s about to hit. He’s looked at the numbers, and they're frightening. Carol Roth, former Wall Street investment banker and author of “The War on Small Business,” gives advice to Americans who want to protect their checking and savings accounts before it’s too late.

Watch the full episode below:

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The stock markets have taken a nosedive in the biggest downtrend since the start of the COVID-19 pandemic in 2020. But that's nothing compared to what's coming thanks to our government's embrace of modern monetary theory, warned BlazeTV's Glenn Beck on the radio program.

"It really is important that you understand what's happening to us," Glenn stated. "Modern monetary theory is truly the [fuel] ... for the great reset. It is the idea that we can print as much money and spend as much money as we want," he explained.

"Then the next step is to release the Federal Reserve digital currency and make payments by other currencies [including cryptocurrencies] illegal," he continued. "And you're seeing it happen now in real time. Why would they do this? Because you cannot print this kind of money without having absolute control over how it is spent."

Glenn broke down the steps powerful political organizations — like the Federal Reserve — will take to end currency competition and enact a Federal digital dollar, which will allow for the government to have complete control over how we spend our money.

"This is what's coming. This is coming quickly, and events will make it move faster. For instance, why is Joe Biden basically giving Ukraine to Russia? He's giving it to them. He he knows Russia's not afraid of him. Putin knows that [Biden] is not going to do anything ... neither is NATO. They're not going to do anything," Glenn said.

"It's because war resets everything. War is the best great resetter. Changes boundaries. It changes borders. It changes laws. It changes societies. It changes currencies. It changes everything. And in the end you just want the war to stop. And so you you accept whatever it is the terms are that you're going to have to live under now. We're in very, very dangerous times. The only way to survive this is to know why they are dangerous times."

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

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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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