Big Oil vs. the Fed: Double Standard?




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Barack Obama is talking about taxing those big, bad evil bankers to make up for losses on the bailouts and he's reviewing end of the year bonuses; can't have those greedy bankers making any profits — oh no. Confiscating profits is becoming standard fare in Washington: When a company makes "windfall profits," like when gas prices recently soared, politicians went after oil executives.

(BEGIN VIDEO CLIP, FEB. 2, 2007)

THEN-PRESIDENTIAL CANDIDATE HILLARY CLINTON: The other day, the oil companies reported the highest profits in the history of the world. I want to take those profits ...

(END VIDEO CLIP)

That evil Big Oil!

While you were barely scraping up enough cash to fill up your car and get to work, those greedy monsters were raking in record bonuses and profits, stealing food right off your dinner table, starving your children — how dare they!

Our politicians — because they care about you — took brave action and dragged oil executives to Washington, D.C., to give them a lecture. And now they're going after the banks.

But there's another company who's making obscene "windfall profits": the Federal Reserve. They announced a "windfall" of $52.1 billion ... hmmm, an entity independent of the government making "record profits" (their biggest ever).

You've seen the reaction to the banks. You've seen the reaction to Big Oil. But so far, nothing on the Fed. Hmm. Where are these people on the Fed?

(BEGIN VIDEO CLIPS)

REP. MAXINE WATERS, D-CALIF.: And guess what this liberal would be all about? This liberal will be about socializing ... uh, um ... would be about, basically, taking over and the government running all of your companies.

SEN. BYRON DORGAN, D-N.D.: Your profits are very handsome. In fact your individual compensation is very substantial. You’re doing really well, on the other hand there’s dramatic pain for consumers.

CLINTON: We should have a windfall profits tax on these outrageous profits of the oil companies …

THEN-PRESIDENTIAL CANDIDATE BARACK OBAMA: I have strongly called for a windfall profits tax …

CLINTON: The best way to do that is to construct and apply a windfall profits tax …

SEN. DICK DURBIN, D-ILL.: The idea of a windfall profits tax which I support

THEN PRESIDENTIAL CANDIDATE JOHN MCCAIN, R-ARIZ.: I don’t like obscene profits being made anywhere.

REP. ED MARKEY, D-MASS.: There should be a commitment that each of you make – I would recommend that 10 percent of your profits go into renewable energy projects.

(END VIDEO CLIPS)

Shouldn't our politicians be outraged to learn that the Fed made more in “windfall profits” than ExxonMobil? Well, if they were upset, it's hard to tell because there are no dog and pony show hearings scheduled. No one is threatening to take profits. No one is saying anything.

Why is it politicians are outraged at Big Oil, even though they kept profit margins low during the high gas prices, but when the profits benefit then there is no complaint?

The Fed raked in $52 billion for what, exactly?

• It was created in part to stop bank panics. How’s that one working out? Can you think of any big problems with the banks in recent history? Hmm, that's a tough one.

• The Fed was also created in part to bring economic stability — in other words — no more big bubbles bursting. Hmmm, can you think of any bubbles (cough, dot com; cough real estate) that have burst lately? That's another tough one.

Where are the politicians on this? When are the hearings? I'd like some answers. Will there be any penalty on the Fed? Who are they in bed with? Why can't we audit the Fed?

We are no longer a nation of laws. The double standards demonstrate this clearly:

• If you are Exxon and you make profits, well government needs to take that! But the Fed? Politicians turn the other cheek.

• AIG and Bank of America execs can't have bonuses. But Fannie or Freddie? No problem!

• If you don't pay income tax, off to the slammer you go. But Charlie Rangel or the 50 employees in the executive office of the president who currently owe $812,917 in taxes? Nothing!

• Trent Lott says nice things about an old guy at his birthday party — he's shamed, fired. Harry Reid calls Obama “light skinned” and without “Negro dialect” — he gets supported and defended.

• If you try and give your family the best health care plan, a “Cadillac plan,” you get socked with a 40 percent tax. But if you are in the right union, you are exempt

Today it's more about who you know than the rule of law. Robert Creamer steals $2.3 million from banks and he's excused by Democrats because he was helping the poor.

No: It's either right or it is wrong.

When we start caving because of the R or the D or justifying breaking the law because “the ends justify the means,” we're finished. We are supposed to be a nation of laws, not the nation of favors. Washington told us this was the secret of the republic: We are a nation of laws, not of men. Now it only seems to matter what man you are or what man you know.

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

There is an economic collapse of third-world proportions on America's horizon. Nancy Pelosi and Joe Biden hinted at it in statements last week: "Capitalism … has not been serving our economy as well as it should" and "We're about to … literally change the trajectory of our nation for years and possibly decades to come."

The changes the Democratic Party already has in the works are clearly destructive. You have felt it over the last year and a half, in a small supply chain inconvenience here, an incremental price rise there. You've sensed that something is very wrong. It's rumblings of the Great Reset.

Tonight on "Glenn TV," Glenn Beck heads to the chalkboard to break down how America's traditional economic strengths are being severely undermined and, in many ways, systematically torn down by the Biden administration and Democrats in Congress.

This is not "building back better"; this is a managed decline to bring America down to the rest of the world's standard of living. Glenn challenges: Don't let them convince you these are just first world problems. That's the point. America IS a wealthy nation, but we are heading quickly into a second- and third-world collapse. Glenn provides solutions for the managed decline and how you can prepare for the reset that is already in motion.

Watch the full episode below:

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On the radio program Tuesday, Glenn Beck broke down today's inflation, explaining what it is and giving proof that those at the top — politicians and world elite — continue to take advantage of our declining economy to advance their own agenda. He also revealed how a recent decision by Citibank and powerful investment management company, BlackRock, not only puts the U.S. further behind but also allows for China to gain worldwide control.

Watch the video clip below to hear Glenn break it all down:


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For the first time in the history of "The Glenn Beck Program," former President Donald Trump joined Glenn to give his take on America's direction under President Joe Biden compared to his own administration. He explained why Biden's horrific Afghanistan withdrawal was "not even a little bit" like his plan, and why he thinks it was "the most embarrassing event in the history of our country."

Plus, the former president gave his opinion on China's potential takeover of Bagram Air Base, the Pakistani Prime Minister, and Gen. Mark A. Milley, chairman of the Joint Chiefs of Staff.

Glenn asked President Trump how similar the Biden administration's withdrawal from Afghanistan was to his administration's plan.

"Not even a little bit," Trump answered. "We had a great plan, but it was a very tenuous plan. It was based on many conditions. For instance, you can't kill American soldiers. ... You have to understand, I did want to get out. But I wanted to get out with dignity, and I wanted to take our equipment out. And I didn't want soldiers killed. ... What [Biden] did was just indefensible. He took the military out first and he left all the people. And then we became beggars to get the people out. I had a plan to get them out very quickly. But first, the Americans would go out."

Trump told Glenn that his plan included maintaining Bagram Air Base and explained why he would not have left "a single nail" behind in Afghanistan for the Taliban to seize.

"We were going to keep Bagram open," he explained. "We were never going to close that because, frankly, Bagram is more about China than it is about Afghanistan. It was practically on the other border of China. And now we've lost that. And you know who is taking it over? China is taking it over. We spend $10 billion to build that base. It's got the longest, most powerful runways in the world. And China has now got its representatives there and it looks like they'll take it over. Glenn, it's not believable what's happened. You know, they have Apache helicopters. These are really expensive weapons, and they have 28 of them. And they're brand-new. The latest model."

Glenn mentioned recent reports that Gen. Milley, America's top military officer, made "secret phone calls" to his counterpart in China while President Trump was in office.

"I learned early on that he was a dope," Trump said of Gen. Milley. "He made a statement to me — and I guarantee that's what happened to Biden — because I said, 'We're getting out of Afghanistan. We have to do it.' And I said, 'I want every nail. I want every screw. I want every bolt. I want every plane. I want every tank. I want it all out, down to the nails, screws, bolts ... I want every single thing. And he said, 'Sir, it's cheaper to leave it than it is to bring it.'

"The airplane might have cost $40 million, $50 million ... millions and millions of dollars. So, you think it's cheaper to leave it than to have 200 pilots fly over and fly all the equipment out? ... I said, you've got to be nuts. I mean, give me a tank of gas and a pilot and I just picked up a $40 million-dollar airplane. It was amazing. So, I learned early that this guy is a dope. But what he did, is he hurt our country ... and he shouldn't have been allowed to do it. And bad things should happen to him."

Watch the video clip below to catch more of the conversation or find the full interview on BlazeTV:


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In a shocking but underreported conversation ahead of the G7 Speakers' meeting in London last week, Democratic House Speaker Nancy Pelosi admitted that the administration knows China is committing "genocide" against the Uyghurs in the Xinjiang region, but thinks working with the regime on climate change is more important.

On the radio program, an outraged Glenn Beck dissected Pelosi's speech and broke down how — along with the Biden administration's abandonment of Americans in Afghanistan, and the Democrat decision to follow measures of medical "equity" — the far left is revealing how little they really care about human life.

Glenn played a video clip of Pelosi making the following statement:

We've always felt connected to China, but with their military aggression in the South China Sea, with their continuation of genocide with the Uyghurs in Xinjiang province there, with their violation of the cultural, linguistic, religious priority of Tibet, with their suppression of democracy in Hong Kong and other parts of China, as well – they're just getting worse in terms of suppression, and freedom of speech. So, human rights, security, economically [sic].

Having said all of that ... we have to work together on climate. Climate is an overriding issue and China is the leading emitter in the world, the U.S. too and developed world too, but we must work together.

"We have Nancy Pelosi admitting the United States of America knows that they're not only committing [genocide], they're continuing to commit it. Which means, we've known for a while," Glenn noted. "And what does she say? She goes on to say, yes, they're committing genocide against the Uyghurs, but having said that, I'm quoting, 'the overriding issue,' is working together on climate change.

"Would we have worked with Hitler on climate change? Would we have worked with Hitler on developing the bomb? Would we have worked with Hitler on developing the Autobahn? Would we have worked with Hitler on his socialized medicine? Would we have worked with Hitler on any of his national, socialist ideas?" he asked.

"The answer is no. No. When you're committing genocide, no! She said 'we have to work together on climate,' because climate is the 'overriding issue.' The overriding issue? There is no way to describe this mindset. That, yes, they are killing an entire group of people because of their ethnicity or religion. They are systematically rounding them up, using them for slave labor, and killing them, using their organs and selling them on the open market. They are nothing more than cattle. For us to recognize it and do nothing about it is bad enough. But to say, 'we recognize it, but we have bigger things to talk to them about,' is a horror show."

Glenn went on to urge Americans to "stand up together in love, peace, and harmony," or risk watching our nation become the worst plague on human life yet.

Watch the video clip below to hear more from Glenn:


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