Beck: Collapsing the System




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I've told you a lot of spooky things on this show and I'm hoping a lot of those things are wrong.

On Tuesday, I asked you the question: Does it matter if these people are Marxists?

Does it matter that the guy rebuilding our automotive industry has no experience and believes that the free market system doesn't work? Or that the manufacturing "czar" said that the free market is "nonsense?" Or that we have communists and radicals serving in the administration and advising the president?

(BEGIN VIDEO CLIPS)

RON BLOOM, WHITE HOUSE MANUFACTURING 'CZAR': Generally speaking, we get the joke. We know that the free market is nonsense...

MARK LLOYD, FCC DIVERSITY 'CZAR': In Venezuela, with Chavez, a really incredible revolution, a democratic revolution...

THEN-PRESIDENTIAL CANDIDATE BARACK OBAMA: I think when you spread the wealth around, it's good for everybody.

VAN JONES, FORMER WHITE HOUSE GREEN JOBS 'CZAR': Give them the wealth! Give them the wealth!

ANITA DUNN, WHITE HOUSE COMMUNICATIONS DIRECTOR: Mao Tse-Tung and Mother Teresa, not often coupled with each another, but the two people that I turn to most...

(END VIDEO CLIPS)

Does it matter?

The answer is yes, if you believe that what makes America, America are the individual dreamers, builders and doers. Not the collective, but the individuals, the dreamers and the inventors.

From the people that brought us moving pictures the assembly line, the light bulb, the elevator, the Chia Pet, those are the individuals that made us great. And that is what is being stifled.

Now, government will tell you what to create, how to create it and what to do with it after you've created it. They'll control your financing, control your education, control your health. They'll control what you watch on television, they'll control absolutely everything — because now, they'll own a lot of the banks and many of the companies.

So now, not only does an inventor have to invent the thing the government says it is looking for, they'll also make sure that you can't go out on your own and try to create something better.

It is total control. And it is also, total insanity.

I've told you before about Cloward and Piven, a 1960s strategy that identified the best way to stop the Republic — the best way to subvert the Constitution and replace it with communism, Marxim or socialism — is to first financially collapse it.

Just a year ago, this stuff sounded absolutely crazy.

We've all worried about the debt. I want to not only show you how bad the debt is, but I also want to arm you with information, you will not accept their answer when they present a solution for what's coming. And what's coming is a system that is unsustainable. A system that is going to collapse. A system that quite honestly, looks a lot like what happened in Iceland.

In Iceland, all three of their McDonalds have been forced to close. Now, that may not sound like a national emergency, but neither does the swine flu. The reason they shut down is that Iceland's currency, the krona, has devalued to the point where the McDonalds' franchise owner could no longer afford to even import the packaging, meat and cheese to run the business.

Remember, four years ago, Iceland was a stable economy. But now, after being in a position where they were importing workers from Poland, they've gone to a 10 percent unemployment rate in one year. Massive debt, coupled with the currency and banking crisis, has caused Iceland's once thriving economy to hit the skids.

Iceland's GDP is around $20 billion; their foreign debt alone is $120 billion — six times their GDP. Would you like a hot apple pie with that debt, Reykjavik? If only their biggest problem was where to find their next Big Mac. If only that was our biggest problem.

Our GDP is $15 trillion. Our actual debt, as you've seen many times on the debt clock, is $105 trillion. Hmm, seven times our GDP.

I want to make this clear: Ours is actual debt; theirs is foreign debt. But do you know the games our government plays with the accounting books? Do you realize we have four separate books? According to David Walker, former U.S. comptroller, everybody involved would be in jail — if we didn't own the jails.

Liberal blogs are having fun with me saying there's more truth from Pravda. Well, let me give you a quote from Pravda last week: "It can be safely said, that the last time a great nation destroyed itself through its own hubris and economic folly was the early Soviet Union (though in the end the late Soviet Union still died by the economic hand). Now we get the opportunity to watch the Americans do the exact same thing to themselves. The most amazing thing of course, is that they are just repeating the failed mistakes of the past."

How is it happening? Well, let me explain how the system works:

A year ago we had a problem with the banks: People took out too many bad loans and the government pressured banks to make those loans, by the way, to people who couldn't afford them and the whole thing melted down.

So the banks didn't have enough money to cover bad loans and we were faced with a choice: Let them fail or bail them out. Well, you know what happened: We passed the Troubled Asset Recovery Program (TARP) to help the banks cover the bad loans and fund new ones.

Now we're hearing that the banks aren't making loans. How is that possible? After all, we gave them all of that money.

It's actually a good thing right now that the banks aren't making those loans. Too much money would be flooding the system. They are not making those loans because they're afraid that the worst is not yet behind us and they need to have that money on hand so they can keep their doors open.

But if things start to get better again, then all of that money will flood out into the system. It's called velocity — the speed of the money coming out of banks into the economy. And for inflation to happen, you need a lot of money in the system.

We don't really have an inflation problem right now, but back in the '70s under Jimmy Carter, for two years we printed too much money. We added 13 percent more money to our money supply for two years. Remember how bad the inflation was? And we started down a socialist utopia with Jimmy Carter.

To stop it, what did we have to do? Fed Chairman Paul Volcker came in and, in an effort to suck all the money back to the Fed and out of the system, he had to raise interest rates.

Remember, the banks have all of this money on the sidelines right now. As soon as they release it into the system, from that time, it usually takes about two years for the money glut to cause inflation.

After printing 13 percent more money for two years, we had runaway inflation of 12 percent. So Volcker raised the interest rate to 20 percent, because whenever you borrow, let's say, $100, you'll then owe $20 — the Fed then takes that $20 and destroys it to get it out of the system and bring inflation back down.

So we had to have a 20 percent interest rate for a 13 percent increase in the money supply for two years. In the last year or so since Lehman Brothers failed, we have increased our money supply by 120 percent.

How high will our interest rate have to be to pull all of that money back out of the system?

The reason I bring this up is that our real debt, as I pointed out, is $105 trillion. You and I both know we can't pay that back, so how do you pull this money back in without completely shutting down the entire economy? Can you afford a house with a 30-year interest of 35 or 40 percent? How about a car payment? How many business loans will be taken out with 25 percent interest rates?

You can't. Everything stops. So how do you keep an economy, based on buying — not building — going when you can't borrow money? You don't. It's the real reason that Chris Dodd wants a cap on credit cards today. They must have your credit cards working. They must have you spending.

Here's what I think they're doing: They will pay off the debt by printing enough money to pay off $105 trillion. It'll be worthless, but we'll give the Chinese and the rest of our debtors, their money. And those people that we've sold stuff to will come and take their assets.

But then what's left to restart the country? We have to have something to back our currency. Well, what about gold? There are $200 trillion in investible assets in the world and just $800 billion in gold to back it. So you can't go back to the gold standard; you need something to buy stuff with — we can't barter forever.

So, we have to have money and we have to base it on something. Let's go back to the people who taught us in the last century what we do when there's an out-of-control money supply: the Weimar Republic in Germany. What did they do? After their currency had become so worthless that they had printed 2 trillion-mark bank notes and their economy collapsed, they dumped the mark, switched to the rentenmark and backed it with real estate — land.

Well, there's certainly enough land and resources in America that we could back our currency that way as well, but the government would have to own all the land.

Hey, good news! Between Fannie and Freddie, the federal government already owns 55 percent of the mortgages in this country. And coupled with all the federal land grabs for parks, polar bears who are crowded but endangered and all the oil we're not drilling for or coal we're not mining, you might be able to base a currency on all that. And what a deal for China when they come in to "help."

I hope I'm absolutely wrong about this, I honestly do. But think about this: Who would the new "regime" responsible for this "new America" have on their side? Who would the federal government, after they've destroyed your future and that of your children, who would they have on their side?

You'll say: Let us fix it; let the free market fix it. But we've already seen those in the government don't believe in you or the free market. The government is going to say: Let the world fix it. They're already saying that — and when you watch Friday's show on global warming, you'll see how they're laying the groundwork for this.

Don't fool yourself. Read history. During the American Revolution and the Civil War, we needed allies: People who would fight and supply money. Our government is making those allies: Russia, China, Venezuela. But don't you think China would be willing to come over here to protect this government, from its people under those circumstances? For a piece of our oil, coal, mineral reserves and land? And to be part of one, big, happy global family?

You bet.

So it boils down to this: What if the dollar collapses in the next three, five, eight years? What if, this is the plan? Does it matter?

And let me ask specifically to all those who support Gitmo being closed, the Amnesty International goofballs, the protect-the-endangered-crowded-polar-bear crowd: Do you really think Russia and China will be better protectors of the planet than we have been? Will Russians cordon off 200,000 square miles of extra space for polar bear roaming or will they shoot them in the head to get a barrel of oil that used to belong to you?

I know I would. Surely, Ivan will.

— Watch Glenn Beck weekdays at 5p & 2a ET on Fox News Channel

The Senate Judiciary Committee was set to vote on subpoenas to compel Twitter CEO Jack Dorsey and Facebook CEO Mark Zuckerberg to testify on alleged censorship and bias across their platforms. But that all changed when Republican committee members "expressed reservation about the maneuver," Politico reports.

Sen. Ted Cruz (R-Texas), who chairs Judiciary's Subcommittee on the Constitution, was definitely not one of the committee members with cold feet. On the radio program Tuesday, he told Glenn Beck that he's fighting "vociferously" to ensure Dorsey and others testify before the November 3rd election.

"Jack Dorsey and Mark Zuckerberg are both going to testify. They're are going to testify in person. They're going to testify before Election Day. That's what I think should happen," Cruz said. "That's what I'm fighting vociferously to happen. Right now, the companies are negotiating with the chairman's office to discuss terms to come voluntarily. I don't give a damn whether they come voluntarily or under subpoena. They need to testify in person and answer questions for the American people about why they are trying to steal this election, to suppress the free speech, and to censor the press."

The subpoenas would require Big Tech leaders to testify on the alleged "suppression and/or censorship" of two consecutive blockbuster stories from the New York Post. The first story was about emails that allegedly came from Hunter Biden's computer which are currently being investigated by the FBI, and the second was based on additional emails that allegedly showed communist China directly offering millions of dollars to then-Vice President Joe Biden.

"Big Tech stepped in, and they've done something they've never done before," Cruz explained. "We know that Big Tech has been censoring individual conservatives, trying to suppress conservative speech. But the step they took here is, they blocked if any individual user tried to share either of the New York Post stories, [they] were blocked ... Sharing a news story, from a major media outlet is part of democracy, part of free speech. And not only that, they blocked the New York Post itself. Right now, today, the New York Post is not being allowed to post its own damn stories on corruption. This is ridiculous. It's a threshold that's never been crossed before, of Silicon Valley oligarchs declaring the authority to determine what the press is allowed to report, and who is allowed to see it."

Watch the video below to catch more of the conversation:

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If we learned nothing from the media over the past 4 years it's that colluding with a foreign entity to either win an election or for personal gain is absolutely grotesque. Well, that depends on whether you have a (D) or (R) before your name anyway. President Trump was impeached on rumor and innuendo yet Joe Biden has all but skated on his corruption up to this point.

Below is a timeline that shows the level of corruption and the lengths the Biden's went to in order to build that family's wealth and influence internationally.

2009

In 2009, Joe Biden was the brand-new Vice President and John Kerry was a U.S. Senator. Just five months after Joe was sworn in, his son Hunter, and Kerry's stepson, Christopher Heinz, formed an international private equity firm called Rosemont Capital. It had several different branches, including one called Rosemont Seneca Partners.

2010

Just nine months after Rosemont Seneca opened its doors, Hunter Biden went to China for meetings with executives from China's biggest banks, and its sovereign wealth and social security funds. That's unheard-of access for a brand-new firm. Was it just coincidence that at the same time Hunter was meeting these Chinese bigwigs, his dad was meeting with China's then-president Hu Jintao in Washington DC at a nuclear security summit?

2011

In May 2011, Joe Biden met with Chinese officials for the U.S.-China Strategic & Economic Dialogue conference in Washington. Just two weeks later, Hunter Biden went to Taiwan for meetings with the same Chinese financial giants he'd met in China in 2010, plus some new ones.

2013

By December 2013, Joe Biden was enjoying his second term as VP, and John Kerry was now Secretary of State. That's when Joe traveled to Beijing on an extended official trip and Hunter traveled with him on Air Force Two.

During their stay, Vice President Biden met with President Xi and Hunter was mostly out of sight. We don't know exactly what he was up to, but the deal finalized between Rosemont Seneca and the Bank of China just ten days after the Bidens' trip pretty much gives it away. The most powerful financial institution in China formed a joint venture with tiny Rosemont Seneca to create a giant new investment firm called Bohai Harvest RST – the "RS" stands for Rosemont Seneca.

The firm is often called "BHR" for short.

Hunter Biden was a member of the Board. Remember, the Bank of China is government-owned, which means its business is completely intertwined with the goals of the Chinese Communist Party. BHR also got the freedom to operate in the newly created Shanghai Free-Trade Zone where, over the next six years, it would use $2.5 billion of Chinese government money to invest in China, as well as in other countries, including the U.S.

During their Beijing trip, Hunter also introduced Jonathan Li to his dad. Li is Hunter's business partner – he's CEO and Director of BHR.

Hunter arranged for Joe to meet Li in the lobby of the hotel where they stayed during their Beijing trip.

2014

In 2014, one of BHR's first major investments was in the China General Nuclear Power Corporation.

CGN is a Chinese government-owned nuclear power company that sold off a stake of the company to outside investors. Problem is, CGN was under FBI investigation for paying informants in the U.S. to steal nuclear secrets.

In 2016, the FBI arrested the ringleader of this nuclear espionage, a man named Allen Ho.

When they arrested Ho, he was using a random code generator to access funds being provided to him from – where else? – the Bank of China.

Yet while this FBI probe was going on, the son of the Vice President owned a stake in the company being investigated. And even after arrests were made, Rosemont Seneca did not alter its relationship with BHR, nor did it divest from CGN, even though it was stealing U.S. nuclear secrets.

2015

In 2015, BHR partnered with the Aviation Industry Corporation of China (AVIC) to buy an American company called Henniges for $600 million.

AVIC is a gigantic military contractor in China – think Lockheed Martin – that makes fighter jets, bombers and drones. BHR bought 49% of Henniges and AVIC bought 51%.

Henniges is a precision parts manufacturer specializing in anti-vibration technology. The stuff they make is known as "dual use" by the U.S. State Department, which means the technology can also have a military application.

Because of that, the deal had to be approved by the Committee on Foreign Investment in the U.S. (CFIUS) since it could have national security implications. The thing is, the American side of BHR – meaning Hunter Biden and his pals – had to know there were serious national security implications with AVIC.

The year before they formed a partnership with AVIC, the Wall Street Journal reported how AVIC stole technology related to the U.S. Air Force's F-35 stealth fighter and used it in its own stealth fighter for the Chinese.

How the Committee on Foreign Investment approved that deal remains a mystery. CFIUS does not publicly disclose any information regarding its decisions. Their findings are not publicly announced.

Interesting that China accounted for the largest share – with 74 transactions – approved by CFIUS during Obama's second term (2013-2015).

Under the umbrella of Rosemont Capital was a real estate company called Rosemont Realty. In 2015, a Chinese company called Gemini Investments bought a 75% stake in Rosemont Realty. The company was renamed Gemini Rosemont

Gemini brought $3 billion to the partnership with Rosemont, with the aim of buying "Class A institutional-quality commercial office properties in U.S. markets."

Red flag (literally) – Gemini Investments is a subsidiary of the China Ocean Shipping Company, a.k.a., "COSCO."

COSCO is a Chinese government-owned company. Its headquarters in Beijing is actually next to the headquarters of the Bank of China. COSCO is well-known for its close military ties. It's essentially a branch of the Chinese Navy.

2017

In 2017, BHR invested in Face++. That's the facial recognition phone app built by a Chinese company that is incorporated in a separate app built by the Chinese government. Police in the Xinjiang [Sin-jong] region of China use that app to keep tabs on citizens, and track and detain Uiguhr [Wee-ger] Muslims.

The app allows police easy access to data about Chinese Muslims including things like religious activity, blood type, and even the amount of electricity they use.

2018

In March 2018, a spokesman (Chris Bastardi) for Christopher Heinz (John Kerry's stepson) emailed The Hill to say that Heinz had "no operating role" in Rosemont Seneca, and that he was not involved in any of Rosemont's deals in China (which contradicts Schweizer's report in his book Secret Empires).

Chris Heinz was involved in Rosemont Capital. Rosemont Seneca was established under the same GP as Rosemont Capital, but Chris Heinz had no operating role in it. Chris and his family have no financial interest or investment in Bohai Harvest RST, he has never traveled to China, and he has never met with the firm's Chinese management team or investors.

2019

In October 2019, Hunter Biden's lawyer, George Mesires, said Hunter did not conduct any business on that 2013 trip to Beijing with his Dad.

Mesires said the timing of BHR's business license getting approved was purely coincidental because the paperwork had been submitted months before the Bidens' China trip.

According to Hunter's lawyer, the approval " was not related in any way, shape or form to Hunter's visit."

Hunter Biden finally stepped down from the BHR board last October (2019), but he DID NOT give up his 10% stake in the company.

When Bevan Cooney — the former "junior" business partner to Hunter Biden and Devon Archer — went to jail in 2019, investigative reporter and New York Times bestselling author Peter Schweizer thought he'd never gain access to the damning emails Cooney had promised. That all changed three weeks ago when Schweizer was given complete access to Cooney's gmail account.

Schweizer joined Glenn Beck on the radio program Tuesday to describe just some of the business deals revealed within these emails — like Hunter working with an alleged Russian criminal and with Chinese communists to secure their assets, or to secure one-on-one time with his dad, then-Vice President Joe Biden. And all of this new information is completely separate from the emails allegedly discovered on Hunter Biden's laptop recently reported by the New York Post.

"So, I want to make this clear. This [Cooney's emails] has nothing to do with what's on the laptop … It didn't come from [Rudy] Giuliani. It didn't come from anybody else, right?" Glenn asked Schweizer.

"That's absolutely correct," Schweizer confirmed.

He briefly explained how Cooney, a former Los Angeles nightclub owner, is currently serving a prison sentence for his involvement in a fraudulent business bond scheme with Biden and Archer. From prison, Cooney gave Schweizer written permission to access his Gmail account.

"This is really important," he noted. "We're not looking at printouts. Not looking at PDFs. We're actually in his Gmail accounts themselves, sifting through these emails. And there's a shocking amount of information about deals involving China, involving Russia, involving all sorts of things they were trying to pull off."

Watch the video below to catch more of the conversation:

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The king of "No Spin" and bestselling author of "Killing Crazy Horse," Bill O'Reilly joined Glenn Beck on this week's podcast to talk about the latest developments in Joe Biden's Ukraine and China corruption scandal. Now that some of the details are finally coming out in the open, does the average Democrat care? Maybe, but the Left doesn't seem to.

O'Reilly argued there's more hatred for President Donald Trump now than in 2016, and that some people hate President Trump so much that they'd rather vote for the "senile, corrupt" Joe Biden.

"Hunter got tens of millions of dollars from Ukraine, from Russia, from China because his father was vice president. I have no doubt in my mind," O'Reilly said. "But the hatred for Donald Trump overrides that in the minds of millions of viewers. They're saying, 'You know, we'd rather have the senile corrupt guy than Trump.'"

Asked by Glenn if any other Republican running for president would be met with the same level of vitriol, O'Reilly answered, "The Left is the Left. They don't like America. The want to redo the Constitution. They want to take some of our freedoms, like the Second Amendment and the First Amendment, and change them. And they want to destroy capitalism and replace it with a big centralized government in Washington that controls the economy … but I'm talking about the folks. I have liberal friends and I say to them, 'Do you not understand that when you vote for Biden, you're voting against your own self interest?'"

Watch the video clip from the full podcast below, or find the full episode HERE:

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