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.

This week on "The Glenn Beck Podcast," civil rights activist and Woodson Center founder Bob Woodson joined Glenn to call out the leftists in the "race grievance industry," like the Rev. Al Sharpton and Black Lives Matter, Inc., who, he says, are "profiting off the misery of their people."

Woodson lived through the appalling segregation laws of the last century and has a much different message about what it means to be "oppressed" than the so-called "anti-racist" activists today.

Woodson said he believes the real struggle for impoverished minority communities "is not racial." He argued that leftists "at the top" derive "moral authority" by claiming to represent "so called marginalized groups," while they prosper at the expense of those "at the bottom."

"There's nothing worse than self-flagellating guilty white people and rich, angry black people who profit off the misery of their people," Woodson said.

"I call what Sharpton and some of those are doing is worse than bigotry. It's treason. It's moral treason against their own people," he added. "The only time you hear from them is when a white police officer kills a black person, which happens maybe 20 or 21 times a year, but 6,000 blacks are killed each year by other blacks. So, in other words, their message is black lives only matter when taken by someone white, which means you are betraying the black community when you turn your back on 20 children that are slaughtered and you don't march in that community and demand that those killers be turned over to the police."

'The problem is not racial," Woodson asserted. "The problem is the challenge of upward mobility. Any time you generalize about a group of people, blacks, whites, Native American, and then you try to apply remedies, it always benefits those at the top at the expense of those at the bottom. ... It's a bait and switch game where you're using the demographics of the worst of these, to get resources that helps the best of these, or those who are prospering at the top. So, if I was the president, I would say an end to the race grievance business, that America should concentrate on the moral and spiritual free fall that is consuming people at the bottom."

Watch the video clip below to catch more of the conversation, or enjoy the full podcast here or wherever you listen to podcasts:

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Following President Joe Biden's first joint address to Congress, Glenn Beck joined fellow BlazeTV host and author of the new book, "American Marxism," Mark Levin to expose what they called the "Liar-In-Chief's" radical plans for our country and to explain why the far Left's proposals and programs are really a "frontal attack" on our Constitution, our country, and our way of life.

"Substantively, this is a frontal attack on our Constitutional system of limited government. It is a frontal attack on our capitalist system. He's basically throwing out all the bromides for the radical left groups that now form the base of the modern Democrat Party. And I make the case that ... this is Marxist bullcrap in its broadest sense," Levin stated.

"Here we are, a country now where one man can get up in the middle of the night and make a list of everything he wants to do to the country," he added, speaking figuratively. "It's like an unreality where we're living in separate worlds ... the whole thing is a fraud."

Watch the video clip below to hear Levin expose the lies and misinformation in Biden's speech and explain why he believes the true message is absolutely chilling for the future of our nation:

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After months of delays and COVID-19 excuses, President Biden finally delivers his address to the joint session of Congress. It is a truly historic moment, as only a few hundred members of Congress received an invite. While some have compared this speech to JFK's moon landing challenge, it will likely be more like FDR's New Deal nightmare. Will Speaker Pelosi continue her tradition of ripping up the president's speech? Will VP Harris cackle to a quiet audience?

Glenn Beck teams up with fellow BlazeTV host Mark Levin, author of the new book "American Marxism," to take on the progressive plans that could completely transform our economy and our way of life. Steve Deace, BlazeTV host and author of "Faucian Bargain," joins to discuss why it's not enough for conservatives to just lament the dangerous Democrat agenda; we must activate against the woke infection of our institutions. Plus, a power panel to rival CNN talking heads: Stu Burguiere, BlazeTV host of "Stu Does America," and Jason Buttrill, head researcher and writer for Glenn Beck.

Watch the video below:

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The less-than-favorable reaction to Caitlyn Jenner's bid for governor of California as a Republican has shown that leftists and so-called "transgender rights activist" care more about political party than actual transgender rights. Despite the fact that if she wins, Jenner would be the first trans governor in our nation's history — and prove that Republicans aren't 'transphobic' — Leftist activists would rather back Gavin Newsom — a cisgender, white male.

"Make no mistake: we can't wait to elect a #trans governor of California. But @Caitlyn_Jenner spent years telling the #LGBTQ+ community to trust Donald Trump. We saw how that turned out. Now she wants us to trust her? Hard pass," tweeted Equality California, one of the state's largest LGBTQ-rights groups.

"With all due respect, @Caitlyn_Jenner, you are running as a Republican?! Republicans deny your existence and are trying to erase trans youth. HELL NO," tweeted leftist activist and actress Alyssa Milano.

"Well done Caitlyn Jenner, running for governor wins you the one medal you never got: stupidest mother***ker on earth. Running as a Trump Republican & entering a world that hates you," tweeted "Sons of Anarchy" star Ron Perlman.

In this clip from the "Glenn Beck Radio Program," Glenn and producer Stu Burguiere discussed the Left's hostile reaction to Jenner's candidacy for California governor and agreed that leftist trans activists are showing themselves to be more "leftists" than "trans activists."

"If Caitlyn Jenner did, let's say, run for governor and win as a Republican, wouldn't that go a long way to advance what [trans rights activists'] goal supposedly is? Like, if you really believe Republicans hate trans people and what you want is for society to have trans people accepted more broadly, what better way to accomplish that than having a Republican trans candidate?" Stu asked.

"Yeah, see, but you just said the key words: 'If you really believe.' They don't really believe anything. I don't think they even really believe that Republicans hate gay people. I don't think they actually believe that. That's just a slogan that's been drilled in their head," Glenn said. "It doesn't have anything to do with race or gender, or really anything else. It has everything to do with politics. That's it."

Watch the video clip below to hear more from Glenn:


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