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?

For the first time in the history of "The Glenn Beck Program," former President Donald Trump joined Glenn to give his take on America's direction under President Joe Biden compared to his own administration. He explained why Biden's horrific Afghanistan withdrawal was "not even a little bit" like his plan, and why he thinks it was "the most embarrassing event in the history of our country."

Plus, the former president gave his opinion on China's potential takeover of Bagram Air Base, the Pakistani Prime Minister, and Gen. Mark A. Milley, chairman of the Joint Chiefs of Staff.

Glenn asked President Trump how similar the Biden administration's withdrawal from Afghanistan was to his administration's plan.

"Not even a little bit," Trump answered. "We had a great plan, but it was a very tenuous plan. It was based on many conditions. For instance, you can't kill American soldiers. ... You have to understand, I did want to get out. But I wanted to get out with dignity, and I wanted to take our equipment out. And I didn't want soldiers killed. ... What [Biden] did was just indefensible. He took the military out first and he left all the people. And then we became beggars to get the people out. I had a plan to get them out very quickly. But first, the Americans would go out."

Trump told Glenn that his plan included maintaining Bagram Air Base and explained why he would not have left "a single nail" behind in Afghanistan for the Taliban to seize.

"We were going to keep Bagram open," he explained. "We were never going to close that because, frankly, Bagram is more about China than it is about Afghanistan. It was practically on the other border of China. And now we've lost that. And you know who is taking it over? China is taking it over. We spend $10 billion to build that base. It's got the longest, most powerful runways in the world. And China has now got its representatives there and it looks like they'll take it over. Glenn, it's not believable what's happened. You know, they have Apache helicopters. These are really expensive weapons, and they have 28 of them. And they're brand-new. The latest model."

Glenn mentioned recent reports that Gen. Milley, America's top military officer, made "secret phone calls" to his counterpart in China while President Trump was in office.

"I learned early on that he was a dope," Trump said of Gen. Milley. "He made a statement to me — and I guarantee that's what happened to Biden — because I said, 'We're getting out of Afghanistan. We have to do it.' And I said, 'I want every nail. I want every screw. I want every bolt. I want every plane. I want every tank. I want it all out, down to the nails, screws, bolts ... I want every single thing. And he said, 'Sir, it's cheaper to leave it than it is to bring it.'

"The airplane might have cost $40 million, $50 million ... millions and millions of dollars. So, you think it's cheaper to leave it than to have 200 pilots fly over and fly all the equipment out? ... I said, you've got to be nuts. I mean, give me a tank of gas and a pilot and I just picked up a $40 million-dollar airplane. It was amazing. So, I learned early that this guy is a dope. But what he did, is he hurt our country ... and he shouldn't have been allowed to do it. And bad things should happen to him."

Watch the video clip below to catch more of the conversation or find the full interview on BlazeTV:


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In a shocking but underreported conversation ahead of the G7 Speakers' meeting in London last week, Democratic House Speaker Nancy Pelosi admitted that the administration knows China is committing "genocide" against the Uyghurs in the Xinjiang region, but thinks working with the regime on climate change is more important.

On the radio program, an outraged Glenn Beck dissected Pelosi's speech and broke down how — along with the Biden administration's abandonment of Americans in Afghanistan, and the Democrat decision to follow measures of medical "equity" — the far left is revealing how little they really care about human life.

Glenn played a video clip of Pelosi making the following statement:

We've always felt connected to China, but with their military aggression in the South China Sea, with their continuation of genocide with the Uyghurs in Xinjiang province there, with their violation of the cultural, linguistic, religious priority of Tibet, with their suppression of democracy in Hong Kong and other parts of China, as well – they're just getting worse in terms of suppression, and freedom of speech. So, human rights, security, economically [sic].

Having said all of that ... we have to work together on climate. Climate is an overriding issue and China is the leading emitter in the world, the U.S. too and developed world too, but we must work together.

"We have Nancy Pelosi admitting the United States of America knows that they're not only committing [genocide], they're continuing to commit it. Which means, we've known for a while," Glenn noted. "And what does she say? She goes on to say, yes, they're committing genocide against the Uyghurs, but having said that, I'm quoting, 'the overriding issue,' is working together on climate change.

"Would we have worked with Hitler on climate change? Would we have worked with Hitler on developing the bomb? Would we have worked with Hitler on developing the Autobahn? Would we have worked with Hitler on his socialized medicine? Would we have worked with Hitler on any of his national, socialist ideas?" he asked.

"The answer is no. No. When you're committing genocide, no! She said 'we have to work together on climate,' because climate is the 'overriding issue.' The overriding issue? There is no way to describe this mindset. That, yes, they are killing an entire group of people because of their ethnicity or religion. They are systematically rounding them up, using them for slave labor, and killing them, using their organs and selling them on the open market. They are nothing more than cattle. For us to recognize it and do nothing about it is bad enough. But to say, 'we recognize it, but we have bigger things to talk to them about,' is a horror show."

Glenn went on to urge Americans to "stand up together in love, peace, and harmony," or risk watching our nation become the worst plague on human life yet.

Watch the video clip below to hear more from Glenn:


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The fall of Lehman Brothers in 2008 marked the largest bankruptcy filing in U.S. history and economic collapse was felt throughout the world. But now China's own version of Lehman Brothers, Evergrande, is teetering closer and closer to that edge, too. On the radio program Thursday, Glenn Beck gave the latest update and predicted how it will affect Asian markets and what it could mean for America's economy.

Glenn explained why he believes a major collapse that is happening now in China will have a cascading effect into a "controlled collapse," a managed decline that will dramatically change America's economy and the way we all live.

"You will not recognize your lifestyle. Hear me," Glenn warned. "And that's not a right-left thing. That's a right-wrong thing. We're on the wrong track. I'm telling you now, there's new information and you are not going to recognize the American lifestyle. ... It could happen tomorrow. It could happen in five years from now, but it will happen. We are headed for a very different country. One where you don't have the rights that you have. And you certainly don't have the economic privileges that Americans are used to."

"The same thing that happened in 2008 is now happening in China," Glenn continued. "This time, it's going to take everything down. When it collapses, it will take everything down."

Watch the video below to hear Glenn break down the details:

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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:

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