Glenn Beck: Fed makes record 'windfall' profits

GLENN: Hey, I want you to know that the Fed has made a little bit of a profit this year.

PAT: No big deal, though.

GLENN: Yeah. It's only, it's only just a little bit more than Exxon made last year.

PAT: Let's not blow that out of proportion, though. That sounds on the surface like it's a lot of money.

GLENN: Yeah.

PAT: But it's not even $1 trillion.

STU: Right. It's way less.

PAT: $46 billion. ExxonMobil made 45.

STU: If you say $46 billion, you are not including $100 million because it's 46.1.

PAT: It's easy as change.

STU: But that's nothing. That's just thrown on top of it.

GLENN: So they made $46 billion.

STU: 46.1.

GLENN: $46.1 billion last year, the Fed did, a private corporation where we don't even know who really owns the Fed.

PAT: Are they fat cats?

GLENN: No, no.

STU: They are definitely not corporate fat cats.

PAT: All right, I shouldn't have even brought that up.

GLENN: So they made $46.1 billion. ExxonMobil last year made how much?

STU: Well, when it was a big controversy, 2008, they made record profits of $45 billion.

GLENN: Not $45.1.

STU: Well, let me you know what? That's a good point.

GLENN: You better check, because

STU: $45.22 billion.

GLENN: $45.22 billion. And remember it being on the front page of Drudge. They called them in front of congress.

STU: Yeah.

GLENN: You know what this liberal's going to do. This liberal's all about socializing.

STU: Please play it. Thank you.

VOICE: And guess what this liberal will be all about. This liberal will be all about socializing... will be about

STU: Something else, about something else, something else.

VOICE: Basically taking over.

GLENN: Taking over, like that's better.

VOICE: And the government running all of your companies.

STU: Oh, there you go. See, that's quick on your feet.

GLENN: Yeah. Very good cover. Very good cover. Okay, so she was saying that because people were paying a lot of money for gasoline.

PAT: And they were making these outrageously obscene, sinful, outrageous.

STU: Hurtful.

PAT: Hurtful, thank you, profits.

GLENN: At a time when the American people need help.

PAT: They were suffering, suffering.

GLENN: What did they do? They made these obscene profits.

PAT: Obscene.

GLENN: So the Fed was supposed to protect us from a bubble.

STU: That worked. I mean, if you think about it, that worked out very well.

GLENN: The Fed was supposed to oversee the banking fiascos.

STU: Yeah.

PAT: And sort of head them off at the pass?

STU: They did see it. They saw it.

PAT: Nobody could do that.

STU: Impossible, impossible.

PAT: Nobody could do that.

GLENN: Then they were supposed to bail out these banks so people could get loans at the banks, which isn't happening.

PAT: Well, nobody could do that.

STU: Impossible.

GLENN: But they are only making more money last year.

PAT: They tried, Glenn, but the fat cat bankers just wouldn't do the things that were supposed to be asked.

GLENN: Hang on a second. The Federal Reserve is a collection of banks.

PAT: But these are good banks.

STU: Really good ones.

PAT: There's a difference between the good banks.

GLENN: We don't know what banks they are.

PAT: It's like are you a good witch or a bad witch. This is, are you a good bank or a bad bank.

GLENN: We don't know what banks they are.

PAT: I just know they are good. They are good banks.

GLENN: You just know that.

PAT: Because they are part of the Federal Reserve and no bad bank could ever be a part of the Federal Reserve. You know that. You know that.

STU: Don't play around, Glenn.

GLENN: So let's say Merrill Lynch is not Merrill Lynch but Goldman Sachs.

STU: Sounds like fat cats to me.

GLENN: Isn't Goldman Sachs part of the Fed? They are rumored to be part of the Fed?

PAT: They can't possibly be. Because I don't think I would call them one of the good banks.

GLENN: You don't think so?

PAT: So they can't possibly be.

GLENN: But Goldman Sachs is in with the president.

STU: Why are you talking about fat cats again? Fat cats. Corporate fat cats.

PAT: Sucking the marrow out of this country! Out of the very nation!

GLENN: So I'm wondering if we could have Maxine Waters ask Ben Bernanke what's been going on? How could you possibly make because I'll tell you what this liberal's all about. This liberal's all about socializing the bank... about basically taking over... the banking industry... and jamming a spike into the chest of this great nation. And then shooting people who disagree. That's what we're and running the oil companies.

STU: You have to look at this in perspective, though, Glenn and I think if you look at this is really a story of the economy as a whole. I mean, when you think about a company as a whole, you think of beating their all time highest profits by 33% this year. I mean, that seems like just the story that every business is telling with all this hope and this change flowing.

GLENN: It is the macro of the micro. That's just the big picture that everybody's going through the roof by 33%.

STU: 33% of your all time highs, that's what everybody is doing right now.

PAT: I thought everybody was pretty much down.

GLENN: No, pay no attention to that. Fat cats are down and they deserve to be down.

PAT: The fat cats deserve it? Okay. So when is the hearing scheduled for the Federal Reserve to find out how they made these obscene profits?

PAT: Well, they haven't scheduled that yet but they are going to do it really super soon, I'll bet.

STU: Super, super soon I think actually, double super.

GLENN: Do you guys have a press release for this?

PAT: No, but I am expecting one in my inbox anytime, at any time.

STU: And it's not super duper soon. It's one of the two, we know.

Eric Weinstein, managing director of investment firm Thiel Capital and host of "The Portal" podcast, is not a conservative, but he says conservative and center-right-affiliated media are the only ones who will still allow oppositional voices.

On "The Glenn Beck Podcast" this week, Eric told Glenn that the center-left media, which "controls the official version of events for the country," once welcomed him, but that all changed about eight years ago when they started avoiding any kind of criticism by branding those who disagree with them as "alt-right, far-right, neo-Nazi, etc.," even if they are coming from the left side of the aisle. But their efforts to discredit critical opinions don't stop there. According to Eric, there is a strategy being employed to destroy our national culture and make sure Americans with opposing views do not come together.

"We're trifling with the disillusionment of our national culture. And our national culture is what animates the country. If we lose the culture, the documents will not save us," Eric said. "I have a very strongly strategic perspective, which is that you save things up for an emergency. Well, we're there now."

In the clip below, Eric explains why, after many requests over the last few years, he finally agreed to this podcast.

Don't miss the full interview with Eric Weinstein here.

Want to listen to more Glenn Beck podcasts?

Subscribe to Glenn Beck's channel on YouTube for FREE access to more of his masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, or subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Glenn Beck: Why MLK's pledge of NONVIOLENCE is the key to saving America

Photo by Hulton Archive/Getty Images

Listen to the Rev. Dr. Martin Luther King Jr.'s pledge of nonviolence and really let it sink in: "Remember always that the nonviolent movement seeks justice and reconciliation — not victory."

On the radio program, Glenn Beck shared King's "ten commandments" of nonviolence and the meaning behind the powerful words you may never have noticed before.

"People will say nonviolent resistance is a method of cowards. It is not. It takes more courage to stand there when people are threatening you," Glenn said. "You're not necessarily the one who is going to win. You may lose. But you are standing up with courage for the ideas that you espouse. And the minute you engage in the kind of activity that the other side is engaging in, you discredit the movement. You discredit everything we believe in."

Take MLK's words to heart, America. We must stand with courage, nonviolently, with love for all, and strive for peace and rule of law, not "winning."

Watch the video below for more:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Conservatives are between a rock and a hard place with Section 230 and Big Tech censorship. We don't want more government regulation, but have we moved beyond the ability of Section 230 reforms to rein in Big Tech's rising power?

Rachel Bovard, Conservative Partnership Institute's senior director of policy, joined the Glenn Beck radio program to give her thoughts and propose a possibly bipartisan alternative: enforcing our existing antitrust laws.

Watch the video below:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

Dan Bongino, host of The Dan Bongino Show, is an investor in Parler — the social media platform that actually believes in free speech. Parler was attacked by Big Tech — namely Amazon, Apple, and Google — earlier this week, but Bongino says the company isn't giving up without a fight. In fact, he says, he's willing to go bankrupt over this one.

Dan joined Glenn Beck on the radio program to detail what he calls a "smear" campaign behind the scenes, and how he believes we can move forward from Big Tech's control.

"You have no idea how bad this was behind the scenes," Dan told Glenn. "I know you're probably thinking ... well, how much worse can the attack on Parler have gotten than three trillion-dollar companies — Amazon, Apple, and Google — all seemingly coordinated to remove your business from the face of the Earth? Well, behind the scenes, it's even worse. I mean, there are smear campaigns, pressure campaigns ... lawyers, bankers, everyone, to get this company ... wiped from the face of the earth. It's incredible."

Dan emphasized that he would not give up without a fight, because what's he's really fighting for is the right to free speech for all Americans, regardless of their political opinions, without fear of being banned, blacklisted, or losing jobs and businesses.

"I will go bankrupt. I will go absolutely destitute before I let this go," he said. "I have had some very scary moments in my life and they put horse blinders on me. I know what matters now. It's not money. It's not houses. It's none of that crap. It's this: the ability to exist in a free country, where you can express your ideas freely."

Watch the video below to hear more from Dan:

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.