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?

Former President Barack Obama sat down with CNN's Anderson Cooper recently for an interview scheduled to air in full on Friday. During the interview, Obama scoffed at the idea that critical race theory could be a "threat to our Republic," while claiming that "right-wing media venues" are "stoking the fear and resentment of a white population."

On the radio program Wednesday, Glenn Beck set the record straight: the right-wing media's efforts to call out the far-left have nothing to do with race in America, but rather everything to do with protecting our way of life that is being threatened more and more each day by the radical, Marxist ideology seeping into government.

"Mr. Obama, you lied," Glenn asserted. "You used the IRS to hunt down your enemy. You spied on the media. And your health care package, which was supposed to save every American $3,000 per year, has helped some, perhaps, while raising the cost of everyone's health care in double and triple percentages. But the worst thing that you did, is you planted, you watered, and you protected the Marxist seeds, by crying race."

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Our sacred republic has never been in more danger than it is today. Little by little, industry by industry, the far Left is fundamentally transforming the country we love. And it's an aggressive, hostile kind of takeover we've only seen in some of the world's darkest societies.

On Glenn TV this week, Glenn Beck exposes how the Biden administration and Democrats are aggressively scrambling to reset everything: our free and fair voting system, our kids' education, our policing, immigration and border security, our economy, our military, and our energy supply.

Finally, Congressman Dan Crenshaw (R-Texas) joins to discuss how Biden's "woke" policies are threatening America's national security and our way of life.

Watch the full episode below:

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Apparel company The North Face recently stated that it would no longer make jackets for oil and gas companies because it doesn't want to be associated with the fossil fuel industry. In response, Colorado-based oil and gas company Liberty Oilfield Services rented full billboard ads to remind The North Face of the truth: "Globally, 60% of all clothing fibers are made out of oil and gas. For North Face, it is likely 90% or more."

Liberty CEO Chris Wright joined Glenn Beck on the radio program Tuesday to discuss just how much of our economy — beyond outdoor apparel and energy — wouldn't exist in a world without fossil fuels. And he warns that many companies are now deeming this truth to be "controversial."

"I have been for years, trying to get a real, honest dialogue about energy going," Chris told Glenn. "So we took this opportunity to point out that North Face jackets are ... almost completely made out of oil and gas. How can you choose not to associate with the essential material your equipment [is] made out of? So we put a billboard up ... the billboard says, 'That North Face puffer looks good on you. And it was made from fossil fuels.'"

"Most billboard companies did not want to run that billboard. They thought it was controversial," he added. "And Facebook put a hold on our brief video just saying the jacket looks good, this is what it's made out of. In today's world, that is controversial."

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During a lecture at the Yale School of Medicine's Child Study Center, a New York City-based psychiatrist told students and faculty that she fantasizes about "unloading a revolver into the head of any white person that got in my way," among several other shockingly race-hating statements.

In April, Dr. Aruna Khilanani — a New York-based forensic psychiatrist and psychoanalyst — delivered the talk called "The Psychopathic Problem of the White Mind" virtually as part of the Yale School of Medicine's "Child Study Center Grand Rounds," a lecture program for "trainees in child psychiatry, psychology, and social work, faculty, clinicians, and scientists."

On the radio program Monday, Glenn Beck shared several quotes from an audio recording of the lecture provided by Bari Weiss, a former opinion writer and editor for the New York Times.

Here are a few of Khilanani's statements from the audio:

  • "This is the cost of talking to white people at all. The cost of your own life, as they suck you dry. There are no good apples out there. White people make my blood boil."
  • "I had fantasies of unloading a revolver into the head of any white person that got in my way, burying their body, and wiping my bloody hands as I walked away relatively guiltless with a bounce in my step. Like I did the world a f***ing favor."
  • "White people are out of their minds. And they have been for a long time."
  • "White people feel that we are bullying them when we bring up race. They feel that we should be thanking them for all that they have done for us. They are confused, and so are we. We keep forgetting that directly talking about race is a waste of our breath."
  • "We are asking a demented, violent predator who thinks that they are a saint or a superhero, to accept responsibility. It ain't gonna happen. They have five holes in their brain. It's like banging your head against a brick wall. It's just like sort of not a good idea."

"We must take a stand. We must speak out, because this is evil," Glenn said in response to Khilanani's shocking lecture. "I don't care who you voted for, you know this is evil."

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