Glenn Beck: Does Congress Matter?




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The paradigm is changing.

Just a few short months ago you felt alone. You felt your voice didn't matter. The frustration led you to act, to demand (many for the first time) that your voice be heard.

Look how far you've come. Politicians were ignoring you, now they fear you. And that's a healthy "we will vote you out" fear, because we are awake and watching and will call those out who are not "protecting and defending" the Constitution of the United States.

Because, the purpose of a just government is to prevent plunder, not facilitate it. Anyone who stands in against corruption in the Beltway, we will stand with you — even if you've been part of the problem in the past. If you help clean it up, America loves repentance.

This amazing country had 56 founders — 56 brave, good, decent human beings. That's all it took, why should it be any different today to take the country back? That's all I'm looking for: 56 brave men and women out of the 535 in Congress today. Fifty-six "re-founders" to stand up to the corruption and the special interests in your own party. Stand up to what Washington, D.C. has become.

You aren't going to get any publicity from this. This isn't something where you can just latch on to the tea party movement or the 9/12 Project movement. You need to demonstrate it. We'll keep you anonymous so we can help weed out the weasels, like those who don't pay their taxes like Charlie Rangel or those who support corrupt organizations like ACORN and John Murtha's airport.

You don't know about John Murtha's airport? It's beautiful — according to published reports it's got a $7 million air traffic control tower, a $14 million hangar and an $18 million state-of-the-art runway.

It's got everything a modern airport should be equipped with — now, if they only had planes flying there. It has three flights a day and one guess where all three of the flights go to: Washington, D.C.

Thanks to Murtha, the airport has received over $150 million in taxpayer funding and then another $800,000 in stimulus money to repave an "alternate runway."

Now, for comparison: The airport in Barrow, Alaska (320 miles north of the Arctic Circle) handled 37,000 passengers last year; Murtha's airport handled 6,700.

There was a vote today to cut off all federal funding to this waste of taxpayer money. I'm tired of hearing we are the richest country in the world; how can we not afford to help? If down your street, the person with the biggest house and the Cadillac, that goes on vacations and has the best clothing, etc., if they suddenly have their house repossessed and their cars taken away — are they the richest people in the neighborhood or just the people who spent the most money?

We aren't the richest nation in the world. We just spent the most money.

But there is no more money. If you understand that, wouldn't it be a no-brainer to not spend $20 million a year on an airport only one dirt-bag uses to go to Washington, D.C., for his dirt-bag deals?

Apparently not to these people.

All I am asking for is 56 people to help us weed them out — fifty-six.

And it's not like the corruption is that hard to find:

— Maxine Waters' husband was on the board of a bank that received $12 million in bailout funding, just three months after Waters helped arrange a meeting between officials at the bank and Treasury Department representatives

— Charlie Rangel has "forgotten" to pay taxes on more money ($2.4 million) than most Americans earn in a lifetime

— John Conyers had personal aides working on his wife's election campaign — you remember Monica Conyers? She was convicted back in June on federal bribery charges in a sludge-hauling scandal. Are we that low on citizens, we can't find people who haven't been to jail?

— You know about his airport, but did you know that John Murtha is also linked to a lobbying firm that's been raided twice by the FBI?

— Tim Geithner couldn't figure out TurboTax and failed to pay taxes — now he's our treasury secretary!

And then you have the outright lies coming from the White House with the cap-and-trade energy bill. We want to thank our friend Chris Horner at CEI — let me show you a document from the U.S. Treasury Department and I want you to take a look at the date.

March 9, 2009

OK? Remember that date — got it?

Look at the document — right there it says "a cap and trade program could generate federal receipts on the order of $100 to $200 billion annually." That is the equivalent of hiking personal income taxes by about 15 percent or $1,761 a year, per household.

OK, that was in March. Now, fast forward to April 24, 2009 when Henry Waxman (who you may remember from the Waxman-Markley energy bill) said this:

(BEGIN VIDEO CLIP)

REP. HENRY WAXMAN, D-CALIF.: The cost of the bill that Mr. Markey and I proposed, this analysis says, will cost the average American family less than 40 cents per day

(END VIDEO CLIP)

Forty cents a day? If you look at the Treasury's estimates — Waxman is only underestimating the cost by 1,200 percent.

Now, let's fast forward a little and listen to President Obama's estimate on June 25, 2009:

(BEGIN VIDEO CLIP)

PRESIDENT BARACK OBAMA: In a decade the price to the average American will be about the same as a postage stamp per day.

(END VIDEO CLIP)

He too underestimated the cost by about 1,200 percent — but he was a little more careful, because he said "in a decade from now" and, he said "about the cost of a stamp." That's one expensive stamp.

I have a question: What did the president of the United States tell the people in Congress? Did he tell them about the higher estimates (that we now know he knew about?) Or did they just keep it secret and hide it from them and the American people?

I want to show you something I said a few weeks ago — I was talking directly to Democrats and telling them to wake up because you are being bypassed. Look at all the "czars" — they don't answer to anyone. If the president has a bunch of drinking buddies he wants to put in as special advisers and they don't have muscle — fine, whatever.

But if they have power, then it's a real problem.

Woodrow Wilson, a progressive just like this president, talked about ways to get things done without going around Congress. Guess what, guys? That's what this progressive president is doing — he's going right on around you.

When are you going to wake up?

Here's what I said on June 30, 2009:

(BEGIN VIDEO CLIP)

GLENN BECK: Senator, I have to tell you, I think — I think Congress is overplaying their hand. And more importantly, I think they are being outplayed and outmaneuvered. I think they are making themselves irrelevant to a massive new federal framework that Obama seems to be erecting in all kinds of — with all kinds of "czars" and everything else.

(END VIDEO CLIP)

I've been asking questions and I have another one for you, Congress: Are you becoming irrelevant? I mean, you aren't even writing or reading the major bills being pushed, are you are being told by the powers that be how to vote — as John Conyers said about ACORN.

What are you doing, exactly?

I'm not sitting on the sidelines while America is "transformed" like the rest of the fringe media.

I kind of like what our original Founders set up, unlike others who we will get to in the next few minutes.

And if you are in Congress and watching, I encourage you to join the fifty-six. You know what's happening better than any of us — wake up! Help us take clean up the country in our country — the special favors, the special interest. It belongs to we the people (Republican, Democrat and independent).

We can solve any crisis, any problem — health care, energy, anything — once we have honest brokers at the table who aren't beholden to any special interest.

By thw way, we've already have our first of the 56 — they are now working on your behalf to root out the corruption in their own party.

I'm waiting for that next call. Will it be you? I hope so.

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Glenn created "The Senate Fails to Condemn INFANTICIDE" in response to the Senate not passing Nebraska Senator Ben Sasses' bill banning infanticide early this year. In an effort to help support pro-life charities, Glenn first posted this for sale on eBay before being banned multiple times before we finally had enough and put it up for sale on bidpal.net.

At the time of this post, the bid was up to $4,700 — but we can do better than that. Please help us raise money for a good cause, you don't even have to display it anywhere in your home, you can just keep it in storage or something! If you want this priceless piece created by one of the most influential people in the world of art, place your bids here.

Can you remember the economic crisis of 2008 and how you felt when the news broke that Lehman Brothers had collapsed? I have found an economic threat that everyone needs to be aware of, so you can prepare yourself in case we see another 2008 type collapse. I am going to present the evidence to you and I urge you to verify everything and to form your own opinion.

What is that threat?

It is a bank called Deutsche Bank. They are by far the most dominant bank in Germany which is the world's fourth-largest economy. In 2018 they had €2.08 Trillion worth of assets and the second-placed bank (DZ Bank) had €506 Billion worth of assets. To show you how dominant this bank is, they have more assets than the 2nd, 3rd, 4th, 5th and 6th sized banks combined.
When we review a business there are three key parts to analysis:

  • Market sentiment
  • Business numbers
  • Technical Analysis

Market Sentiment

Deutsche Bank has a long history of potential scandals including going all the way back to World War 2 and dealing in Nazi gold. Below are five recent stories which have increased the negative sentiment around Deutsche Bank.

  1. In 2007, they purchased a portfolio of loans worth $7.8 billion and purchased insurance from Warren Buffets Company. It was discovered they did not set aside enough capital to cover any potential losses. Over the course of the ten years, they lost $1.6 billion, and when they sold the loan they did not update their financial statements to include the big loss
  2. The Panama Papers are an ongoing investigation looking for many things including offshore tax havens. These investigations have resulted in several heads of state resigning including in Iceland and Pakistan. Last November, 170 police raided 6 different offices in Frankfurt looking for evidence of money laundering.
  3. Estonia is a small country in Eastern Europe. It has a population of 1.3 million people and a GDP of €26 billion. In January, it was discovered Deutsche Bank got involved with a Danish bank called Danke Bank and processed over $230 billion worth of cross country payments (including from Soviet Russia) through one bank in Estonia.
  4. There have been rumors of issues with Deutsche for a while now and one of the solutions put forth was a merger with a bank called CommerzBank. The leaders of both companies met and they even got support from politicians. In April, news broke that the merger talks had failed because over worries the risks and costs would be too great.
  5. Last week in France, Investment banking boss Garth Ritchie and others were arrested in France over illicit tax transactions.

Business Numbers

Deutsche Bank is already struggling as they are losing staff, losing market share, and bonuses are expected to be down at least 10% and further rounds of cost-cutting to come. Now imagine the impact if business costs start going up.

The banking industry works in a very simple way. They raise funds through large bonds at low-interest rates and then sell those funds to business and individuals thru products like loans and credit cards at a higher interest rate which results in a potential profit.

Earlier this year, Deutsche Bank tried raising money through several bonds. They paid 180bp (basis points) on a two-year bond and 230bp on a seven-year bond. Let me put this in context for you. There is a small bank in Spain called Caixabank which paid 225bp on a five-year bond and one of the larger banks in Spain, BBVA paid 130bp on a five-year bond.

  • How and why is a small bank in Spain getting a better deal on bonds than a huge bank in Germany?
  • Why is a large bank in Spain getting a bond 100bp cheaper than a German bank?
  • What does the market know that we do not?

Stock Price

Deutsche is also missing revenue projections which further hurt the business ability to survive and prosper. As you can imagine all of this news has a deep and lasting impact on its stock price which is in deep trouble. Before I share the stock price, I need to put this into the context of the market and the industry compared to the big economic crash of 2008. Below you will see a chart of some banking stocks from around the world with their peak price prior to the 2008 crash, the low of the 2008 recession and the price today:

As you can see from the above chart the banks in America have recovered from the 2008 recession by anywhere up 375% and JP Morgan has not only recovered its price in full but is constantly setting new high's. Ireland went bankrupt and had to be bailed out by the EU/IMF following the 2008 crash and even our national bank has more than doubled its price since 2008. The worst performing bank I could find was Societe Generale which has issues but is still hovering around its 2008 low price levels.

Now let's put that into the context of Deutsche Bank. Not only has the stock not rebounded but it is over 65% below its 2008 low at $6.75.

Technical Analysis

When you are dealing with the stock market, you also have people who study pricing through technical analysis. Experts look at things like FIB sequences, trend lines, and support levels. Support levels are a key metric for a stock failing because are looking to find where it will find support and potentially bounce higher.

We are very close to a key support level ($6.40) and if the price goes below this level, there is no saying exactly how low the price could go. At least one company expects Deutsche to fall below this support level, as several weeks ago UBS downgraded the stock to a sell order. This news was compounded last Friday when rating agency Fitch, downgraded their credit rating to BBB or two levels above JUNK status.

Other Information

I know you are likely reading this and thinking "this bank must have smart people in charge and surely they have a plan, right?" I am sure there is a plan and while they have kept their cards close to their chest, they have spoken in the past about the areas they foresee having growth for the company – they include business in Saudi Arabia, UAE, and Egypt. Do they strike you as countries which are stable and will offer steady and reliable growth? Do you have to think really hard to imagine how this could go potentially very wrong?

Questions

I believe there is at least a solid case Deutsche is in a LOT of trouble. So what are possible scenarios for the future? I will lay out the key questions below but I must stress that it's impossible to say for sure what exactly will happen. One of the key numbers to remember here is they have roughly €50 billion worth of derivatives.

  • How likely is it that the bank can turn things around and survive?
  • How likely is it the bank continues to run into trouble, its stock price fails and eventually fails?
  • If you think it is likely it will fail, the question becomes what will the fallout be? Who will be affected?
  • Will they be bailed out?
  • If so, by whom? The German government, ECB, IMF, the Federal Reserve?
  • What will the German government think? Some members recently spoke out saying they would block public money for the proposed merger? Will they block funds if it failed?
  • Will other banks be exposed and affected? Will they have to take losses?
  • Will those losses be spread around or will one or more bank be mainly affect?
  • Will this affect the sentiment of the banking sector and cause a panic?
  • If there are issues and it starts affecting the stock prices, what will be the impact on other industries?

Last Question

The last question revolves solely around the banks and the regulators? How secure are the other banks? We all hear about how banks are now put through "stress tests" but how much trust do you put in those results? How much trust do you have in the regulators?

I know this may make me sound like a conspiracy theorist to some but it's an honest question. The Fed is on public record saying they want to keep this economy strong as long as possible. If a bank did not perform strongly in a stress test or even barely failed one, do you think they would report it?

Can you imagine the pressure that body would come under to stay silent? Can you imagine the rhetoric they would face with questions like, "Are you really going to fail one bank? Do you know how many people will lose their jobs if you do that?" Am I saying this is happening? No, but can you really rule it out 100% as a possibility?

I urge you to ponder on these questions, do your own research and find YOUR answers.

Update: The most freaquently asked question I have received from this column / show is how much time do we have to prepare. This is an impossible question to answer, as it could fail tomorrow, next week or might be next year. However I want to provide you a potential date for your diary – July 24th. That is when Deutsche will release their next earnings report and if it comes in below expectations, it could cause a further drop in price casting more doubt over the future viability of the bank.

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Survey: Where do you stand on these conspiracy theories?

Thought Catalog / Unsplash

Have you seen this survey on the most-believed conspiracy theories in America?

It's no surprise the survey has been getting so much attention. The results are actually a pretty disturbing.

Infographic: Belief in Conspiracy Theories in the United States | Statista

I decided to put together a quick survey of my own, with slightly different wording.

Up-vote the ones you agree with and down-vote the ones you disagree with.

I believe Lee Harvey Oswald killed JFK alone. However, I would not be surprised to find out the government sealed evidence that others were involved.

If by "deep state" you mean long-time Washington power brokers who are used to calling the shots and now feel threatened by Donald Trump not listening to their advice or council — yes, I do believe that many people like that are working against him and his administration.

Whether alien bodies are in Area 51 or not, I do believe the government knows more about UFOs than they have told us.

I do not believe the U.S. government was involved in 9/11, but as we know, NSA advisor Sandy Berger was caught destroying documents from the national archives related to both Bush and Clinton. All U.S. administrations have been to close to the Saudis, and the Saudis were involved in 9/11 at some level.

I believe the climate is always changing — it's natural. I would be willing to accept that man MAY play a role in this. But I do not believe in the solutions currently being discussed, nor do I believe the intention of most political activists are pure.

Any talk of the Illuminati provides the true dangers to man's freedom — like very powerful NGOS and men like George Soros — a perfect cover.

The U.S. government has done some horrible experiments on people and land — I also suspect they will do more things in the future. But I do not believe in the systematic spraying of chemicals using chemtrails.

The moon landing was real, but I see a time coming when people will not be able to trust their eyes due to deep fakes.

What do you think?

Let me know in the comments section below.