Glenn Beck: Why Goldman Is Willing to Take the Heat




Watch "Glenn Beck" weekdays at 5 p.m. ET on Fox News Channel

Faith, hope and charity: We used to seek God's blessings on the country, we used to pursue maximum freedom to solve problems and we'd rely on one another in times of need.

Now we're being pushed towards what progressives have always found hope in: Dependency on regulations and administrations. Average Americans find that approach to be red tape. Our Founding Fathers found it to be slavery.

So it kind shocks me when there's no outcry to news stories like this one reported in the Financial Times over the weekend: The "U.S. is preparing to pivot from domestic regulatory reform to push for a tough new international capital regime."

Excuse me?

We're talking about the foundation of international financial regulations and global governing. It's a trial balloon being floated out there and I guess it was a success because the response was complete and total silence.

Is it just me who thinks this is a bad idea? Am I alone? I guess so, because even Republicans are OK with this one. How could that happen? Easy: It's those evil, greedy Sith lord Wall Street executives! Like the ones at Goldman Sachs, who are appearing before the almighty Senate Tuesday to get grilled by the Senate Permanent Subcommittee on Investigations (sounds scary) about their so-called attempts to manipulate and profit off the crash of the housing market.

They'll get chewed out and made an example of by people like Chris Dodd, who joined in the chorus of Goldman haters on "Meet the Press" on Sunday:

(BEGIN VIDEO CLIPS)

SEN. CHRIS DODD, D-CONN.: Here we are, 17 months after someone broke into our house in effect and robbed us... and we still haven't changed the locks on the doors.

LARRY SUMMERS, WHITE HOUSE ECONOMIC ADVISER: These off-balance sheet, nontransparent vehicles with what people call implicit guarantees, invite these kinds of problems.

SEN. RICHARD SHELBY, R-ALA.: We have to end once and for all the casino atmosphere on Wall Street, where they're gambling, basically, on synthetic ideas and so forth — with somebody else's money.

(END VIDEO CLIPS)

You're right, Chris: You have to change those locks. But the other thing to make sure of is that the people you are calling to change the locks aren't the same ones who were involved with the robbery in the first place.

Yes, Dodd and his buddies will chew out Goldman, but if they are the root of all evil, why do these people all still work in the administration?

William C. Dudley, president of the Federal Reserve Bank of New York; was a partner and managing director at Goldman

Gary Gensler, chairman of the Commodity Futures Trading Commission; spent 18 years at Goldman

Mark Patterson, chief of staff to Tim Geithner; former Goldman lobbyist

Philip Murphy; nominated for ambassador to Germany; former Goldman executive

Diana Farrell; deputy director of the National Economic Council; formerly with Goldman

Emil Michael; White House fellow; former investment banker with Goldman

There's just a few. And if Goldman really are the bad guys, we have bigger problems than just regulation, because we have to talk about global warming as well.

I got a tip from a watchdog — and by the way, if you are new to the program and don't know what a watchdog is, that's you. We've got millions of watchdogs e-mailing in tips and stories big and small and we welcome every single one of them. We get to as many as we can and even report on some of them, like this one about the Chicago Climate Exchange.

In case you didn't know the Chicago Climate Exchange existed — it does and it started trading in 2003. It's billed as: "North America's only cap-and-trade system for all six greenhouse gases, with global affiliates and projects worldwide." Members agree to a voluntary but legally binding agreement to "meet annual Green House Gas emission reduction targets."

What's cap-and-trade? A scheme designed to transfer wealth from the companies that have to the companies that have not through the regulation of invisible gases. Remember, it was ENRON who lobbied heavily for this type of system, because they knew how to swindle a profit out of it.

Environmentalists like Obama want this system because it will make prices skyrocket and people will be forced to use less energy. But I don't want to put words in his mouth, I'll let him say it:

(BEGIN VIDEO CLIP)

THEN-PRESIDENTIAL CANIDATE BARACK OBAMA: Under my plan of a cap-and-trade system, electricity rates would necessarily skyrocket.

(END VIDEO CLIP)

Got it? So the main beneficiaries will be big corporations and proponents of the redistribution of wealth. You are the loser here because you pay more for energy. But you can feel good because you saved the planet.

Uh-huh.

Not to mention, other places — like Europe — who have tried to implement green initiatives (like Spain) and then base markets on it are suffering the consequences. Because, as Time unwittingly described the creation of Chicago Climate Exchange, it "creates something out of nothing." There is no value behind the market; it's like Pets.com except now its solar panels.

So who would want to create something like this?

In 2000 and 2001, Chicago Climate Exchange received start-up grants from the Joyce Foundation. The Joyce Foundation is like the George Soros' TIDES Foundation. In fact, it's actually bigger than TIDES and even funds TIDES. Think of it as a place where uber-rich and powerful liberals like to dump their money into, so the cash can be spread around to their pet projects without a direct link.

The Joyce Foundation supports such luminaries as John Ayers (William Ayers' brother).

There was one influential member on the board of the Joyce Foundation at the time the Chicago Climate Exchange got its seed money; someone instrumental in steering the funds towards the creation of the Chicago Climate Exchange. They were on the board from 1994-2002. The founder of the Chicago Climate Exchange, Richard Sandor, said that he "knew (this person) well," which is perhaps how the money was awarded to the Kellogg Graduate School of Management, where Sandor was a research professor. I'll get back to that person in a minute.

Sandor saw big things in a climate exchange market. How big?

(BEGIN VIDEO CLIP)

BLOOMBERG REPORTER: So how big do you think this market could be?

RICHARD SANDOR, CHICAGO CLIMATE EXCHANGE: I think it's a $10 trillion a year market.

REPORTER: Say that again?

SANDOR: $10 trillion a year.

(END VIDEO CLIP)

A $10 trillion a year market? That's a lot to go around. In comparison, the value of U.S. company shares on major U.S. and foreign stock exchanges equities market was $15 trillion in 2009. There's a lot of money riding on this climate legislation. But remember: It's all about saving the Earth.

London-based Generation Investment Management sees the earning potential as well. That's why they purchased a stake in Chicago Climate Exchange and are the fifth largest shareholder. The cofounder of the London-based firm? Former Vice President Al Gore. I say cofounder because some of the other founders include David Blood (former Goldman executive), Mark Ferguson (Goldman) and Peter Harris (Goldman).

In 2006, the Chicago Climate Exchange got a nice boost of confidence when an investor stepped to the plate and ponied up to purchase 10 percent of the combined company. Cofounder of the Chicago Exchange said the investment was big and welcome news. The investor? Goldman Sachs.

Oh and I almost forgot: The person at the beginning of it all? The one on the board of the Joyce Foundation that secured the initial funding for this project? Barack Obama.

This is so weird. It's almost like those our government says are responsible for the financial collapse are the ones directly involved in the "solutions." So much for "changing the locks," Chris.

OK, now let's look at this. What you have is a structure. This is the building: the Exchange. You've got the structure, all the players.

So what are we missing? Well, we're missing the bill and the technology to make it happen; the machinery to make it happen.

You are trading air; it's hard to keep track of air. The good news is, the bill is being worked on by Republicans and Democrats. That's cap-and-trade.

The machinery, the device? A patent for such a device was worked on by CO2e.com CEO Carlton Bartels. Shortly after he filed for the patent on his system to trade residential carbon credits, he was killed in the 9/11 attacks. Bartels wife then shopped the idea around and was able to find a buyer. The buyer ended up being a guy who wasn't really a good guy, he committed massive accounting fraud and manipulated earnings in his company in order to make huge bonuses.

That person was Franklin Raines, who just happened to be the CEO of Fannie Mae at the time. The patent was eventually approved by the U.S. Patent and Trade Office on Nov. 7, 2006 — coincidentally the day after Democrats took control of Congress. Thanks to Barbara Hollingsworth of the Washington Examiner for pointing this out to us.

So now, Fannie Mae, who is congressionally mandated to "make housing more affordable," is poised to reap billions on a system that has nothing to do with housing except for that it would make housing costs go up.

That's great.

Remember when Fannie purchased risky mortgages from banks, bundled them together and sold to investors as mortgage-backed securities? And then the housing market was absolutely destroyed? Well, former Fannie VP Scott Lesmes was responsible for that bundling.

Well, here's the good news: Not only will this new carbon trading "system" try the exact same bundling method (except with air); they are using the exact same guy: Scott Lesmes.

But, please, don't worry. The only ones involved in this are the corrupt Franklin Raines, Mr. redistribution of wealth Barack Obama, and all the people who the House and Senate are currently saying are the bad guys. Other than that, this should work out great.

It's almost like Goldman is willing to take a little heat now, in order to get a little piece of the $10 trillion green pie later. I challenge the media: Will anyone pick this story up? Will anyone question this and the timing of it all?

All of a sudden illegal immigration has leap-frogged global warming? Is it because Goldman has to take hits to get the global government structure done? And then they get the payoff? Or will you continue to say oh, he's crazy and not talk about the facts.

— Watch "Glenn Beck" weekdays at 5 p.m. ET on Fox News Channel

It's never too early to start your Christmas, Hanukah, or Kwanzaa shopping. Or even birthday gift shopping. Especially if that special someone in your life is a Democrat. Because at last count, pretty much all the Democrats are now running for president. And that means there has never been a wider selection of official candidate merchandise to choose from. Whether you're into environmentalism, feminism, classism, socialism, or just plain love, there is a smorgasbord of classy items that you and yours will treasure forever... or at least until the next presidential election.

We have browsed each of the candidates' online stores, so you don't have to (it only took us three months). We have curated only the finest items from each of the Democrats running for president of the United States of America. Without further ado, here is your handy progressive gift guide – or maybe your what-not-to-gift guide.

First, the bargain basement options. Hurry! Time is running out to grab your Beto bandana, or your Delaney pack of golf balls, because at this point Stu has as much of a chance as these guys of getting the nomination.

Tom Steyer, for example – is he still in the race?


https://shop.tomsteyer.com/collections/frontpage/products/tom-2020-pattern-tee


There's way too much Tom here. That shirt's got more Toms than a Caucasian dentists' convention.

For the slightly more moderate Democrat in your life, perhaps they'd like to join the "Yang Gang"…

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Andrew Yang is a lock for Math Club president…


https://shop.yang2020.com/collections/apparel/products/math-hat


But for actual president? Well, I wouldn't make plans for how you're going to spend your $1,000-per-month Yang allowance just yet.

If you happen to be shopping for your dog, may I suggest this lovely "Dogs for Delaney" dog collar…


https://store.johndelaney.com/products/dogs-for-delaney-collar


John Delaney's definitely going to secure the canine vote with this kind of outreach. As for any human votes, that's another question entirely.

How 'bout this tastefully understated "Natural Canvas" Michael Bennet tote to remind you he's also still here?...


https://store.michaelbennet.com/michael-bennet-for-america-natural-canvas-tote/


Then again, it's a tote. So, it'll end up on the floor of your closet and you won't have it with you until that one random moment when you're out somewhere and you really need a tote bag. Just like Democrats will really wish they had a moderate when we're in the middle of the socialist nightmare of their creation.

Captain Planet himself, Jay Inslee recently dropped out of the race, but don't let that stop you from picking up what may be the greatest single item sold by anyone in this race…


https://store.jayinslee.com/elvis-the-elves-the-mystery-of-the-melting-snow-by-jay-inslee/


A children's book called Elvis & the Elves: the Mystery of the Melting Snow. Written and illustrated by Governor Jay Inslee. Talk about a whodunnit – how could that snow possibly be melting? Spoiler alert: it's because of evil, white, patriarchal capitalism. And Donald Trump.

Then there's the candidate who thinks you're a moron that can't pronounce his last name: Steve Bullock...


https://shop.stevebullock.com/collections/apparel/products/emoji-t-shirt


Get it? Bull. Lock. Oh, so that's how you say the name that sounds exactly how it's spelled.

There's another candidate who also thinks you need help pronouncing his last name…


https://store.peteforamerica.com/collections/apparel/products/boot-edge-edge-t-shirt


And he is definitely right about that. So, thank you, Pete "Boot Edge Edge." That helps.

Just outside the bargain bin section, but just barely, are candidates like Julian Castro and his "El Presidente" t-shirt…


https://store.julianforthefuture.com/julian-castro-loteria-card-white-tee/


When your last name's Castro, do you really want to go with a weird drawing of yourself as if you're a classic Latin American dictator on a postage stamp?

If you prefer a little "dark psychic forces" battling in your candidates, you'll love Marianne Williamson's "Turn Love Into a Political Force" rally sign…


https://store.marianne2020.com/collections/signs/products/love-rally-sign


"Turn Love Into a Political Force" would be an even better title for a Marianne Williamson album of 80s cover songs. And if you think I'm joking, then you haven't heard Bernie Sanders' classic 1987 folk album, We Shall Overcome. That's not a joke. Well, it is a joke, but it's also a very real thing.

Now, just a quick pause to consider the peculiar baby-wear that way too many candidates are selling…

…including Elizabeth Warren's trans-pride flag onesie. Let me get this straight – we can't force any gender on a child, because that's just cruel. But we can force a political advertisement on a baby? How do we know that baby is actually a Biden or Warren fan? The child may not even be a Democrat or a Socialist at all. That baby might self-identify as a Libertarian, or Republican, or even worse – a moderate Democrat.

Now to the premium items from the premium candidates. Elizabeth Warren – the candidate with the most honesty in her advertising…


https://shop.elizabethwarren.com/collections/apparel/products/impolite-arrogant-women-make-history-unisex-t-shirt

-AND-

https://shop.elizabethwarren.com/collections/drinkware/products/strong-american-unions-mug


Warren's merchandise reflects the woman herself – cold and humorless (watch her "This isn't funny" clip from the last debate here at the 4:27 mark). I'm sure she's really fun once you get to know her. Then again, maybe not.

Speaking of serious women, Kamala Harris wants to be president very badly for you, the people, as you can tell from her "For the People" poster…


https://store.kamalaharris.org/poster-for-the-people/


At $29.99 though, she's sure not charging "people's" prices. Of course, she might be having to pay royalties to a certain someone for riffing on their poster. Just saying.

For the race's number one socialist, there's a whole lot of capitalism going on in Bernie Sanders' campaign. He sells so many delightful items that it's hard to choose. But we did anyway. The most random item is this hundred-dollar, black, "Art of a Political Revolution – Artists for Bernie Sanders Coaches Jacket"…


https://store.berniesanders.com/collections/apparel/products/artists-for-bernie-coaches-jacket


Coaches across the land will be clamoring for this one. You know, since coaches are such a strong Bernie-socialist demographic.

If that's a little over your budget you might consider a "Feel the Bern" fanny pack, to help store all those government freebies you'll get from Bernie…


https://store.berniesanders.com/collections/apparel/products/feel-the-bern-fanny-pack


This is the only context in which you'll ever want to hear "feel the burn" and "fanny" in the same sentence.

And finally, from front-runner Joe Biden, we have this fine "Women's Fitted Biden Polo." Which is just about the best polo description ever…


https://store.joebiden.com/collections/apparel/products/biden-polo-womens-fit


It promises the kind of snug approach that Biden loves to provide women. Even when they don't ask.

This was one of the first homesteads in the area in the 1880's and was just begging to be brought back to its original glory — with a touch of modern. When we first purchased the property, it was full of old stuff without any running water, central heat or AC, so needless to say, we had a huge project ahead of us. It took some vision and a whole lot of trust, but the mess we started with seven years ago is now a place we hope the original owners would be proud of.

To restore something like this is really does take a village. It doesn't take much money to make it cozy inside, if like me you are willing to take time and gather things here and there from thrift shops and little antique shops in the middle of nowhere.

But finding the right craftsman is a different story.

Matt Jensen and his assistant Rob did this entire job from sketches I made. Because he built this in his off hours it took just over a year, but so worth the wait. It wasn't easy as it was 18"out of square. He had to build around that as the entire thing we felt would collapse. Matt just reinforced the structure and we love its imperfections.

Here are a few pictures of the process and the transformation from where we started to where we are now:

​How it was

It doesn't look like much yet, but just you wait and see!

By request a photo tour of the restored cabin. I start doing the interior design in earnest tomorrow after the show, but all of the construction guys are now done. So I mopped the floors, washed the sheets, some friends helped by washing the windows. And now the unofficial / official tour.

The Property

The views are absolutely stunning and completely peaceful.

The Hong Kong protesters flocking to the streets in opposition to the Chinese government have a new symbol to display their defiance: the Stars and Stripes. Upset over the looming threat to their freedom, the American flag symbolizes everything they cherish and are fighting to preserve.

But it seems our president isn't returning the love.

Trump recently doubled down on the United States' indifference to the conflict, after initially commenting that whatever happens is between Hong Kong and China alone. But he's wrong — what happens is crucial in spreading the liberal values that America wants to accompany us on the world stage. After all, "America First" doesn't mean merely focusing on our own domestic problems. It means supporting liberal democracy everywhere.

The protests have been raging on the streets since April, when the government of Hong Kong proposed an extradition bill that would have allowed them to send accused criminals to be tried in mainland China. Of course, when dealing with a communist regime, that's a terrifying prospect — and one that threatens the judicial independence of the city. Thankfully, the protesters succeeded in getting Hong Kong's leaders to suspend the bill from consideration. But everyone knew that the bill was a blatant attempt by the Chinese government to encroach on Hong Kong's autonomy. And now Hong Kong's people are demanding full-on democratic reforms to halt any similar moves in the future.

After a generation under the "one country, two systems" policy, the people of Hong Kong are accustomed to much greater political and economic freedom relative to the rest of China. For the protesters, it's about more than a single bill. Resisting Xi Jinping and the Communist Party means the survival of a liberal democracy within distance of China's totalitarian grasp — a goal that should be shared by the United States. Instead, President Trump has retreated to his administration's flawed "America First" mindset.

This is an ideal opportunity for the United States to assert our strength by supporting democratic values abroad. In his inaugural address, Trump said he wanted "friendship and goodwill with the nations of the world" while "understanding that it is the right of all nations to put their interests first." But at what point is respecting sovereignty enabling dictatorships? American interests are shaped by the principles of our founding: political freedom, free markets, and human rights. Conversely, the interests of China's Communist Party are the exact opposite. When these values come into conflict, as they have in Hong Kong, it's our responsibility to take a stand for freedom — even if those who need it aren't within our country's borders.

Of course, that's not a call for military action. Putting pressure on Hong Kong is a matter of rhetoric and positioning — vital tenets of effective diplomacy. When it comes to heavy-handed world powers, it's an approach that can really work. When the Solidarity movement began organizing against communism in Poland, President Reagan openly condemned the Soviet military's imposition of martial law. His administration's support for the pro-democracy movement helped the Polish people gain liberal reforms from the Soviet regime. Similarly, President Trump doesn't need to be overly cautious about retribution from Xi Jinping and the Chinese government. Open, strong support for democracy in Hong Kong not only advances America's governing principles, but also weakens China's brand of authoritarianism.

After creating a commission to study the role of human rights in U.S. foreign policy, Secretary of State Mike Pompeo wrote last month that the principles of our Constitution are central "not only to Americans," but to the rest of the world. He was right — putting "America First" means being the first advocate for freedom across the globe. Nothing shows the strength of our country more than when, in crucial moments of their own history, other nations find inspiration in our flag.

Let's join the people of Hong Kong in their defiance of tyranny.

Matt Liles is a writer and Young Voices contributor from Austin, Texas.