Glenn in DC!



Glenn Beck is seen here on GlennBeck.TV, a feature available exclusively to Glenn Beck Insider Extreme members. Learn more...


GLENN: We're down at the XM studios here in Washington D.C. as we are getting ready for 8/28. Yesterday you might have heard we got the permit for 8/28.

STU: No, no, all the liberals were saying we weren't going to get the permit. You forgot about that because they had outed you. You didn't even have a permit. The whole thing was a hoax.

PAT: A hoax.

GLENN: No, but didn't you hear when we corrected them right off the bat and said, no, no, you never get the permit until the week before.

STU: I never saw that printed anywhere. I didn't see that. I was reading the newspaper every day to see it. I only heard that you didn't have the permit and that you were lying.

GLENN: Here in Washington the news is not about 8/28. The news in Washington is about the counterrallies which apparently I am, according to Al Sharpton, I'm a counterrally but he says he hopes to have 3,000 people there for their, I guess main rally, and our counterrally might be 100 or 200 or 300,000 people.

PAT: Well, and he does this all the time. It's a tradition for him, year after year after year after year.

GLENN: Really? I didn't know that.

PAT: Traditional. Yes, he only announced that he was having a rally five months ago? When we announced almost a year ago.

GLENN: Yeah.


Learn more about the Restoring Honor Rally, 8/28 in Washington DC...

PAT: But, but this is just a traditional thing for him.

GLENN: I didn't know that.

PAT: Year after year. This dates back to the, I think the late 1800s.

STU: Yes.

GLENN: Really?

STU: 1874.

PAT: '74, thank you. Thank you, I didn't know the exact date.

GLENN: I didn't know we had exact evidence that he

PAT: No, no, that he really?

GLENN: That he doesn't do this every year.

PAT: No, no.

GLENN: For instance, wasn't it 2008 that he was at the

STU: Democratic National Convention in Denver.

GLENN: Convention.

PAT: On the 28th?

GLENN: On the 28th.

PAT: On the 27th and then he flew back for the traditional 8/28 speech.

GLENN: No, he wasn't there.

STU: No, uh huh.

PAT: Weird. Wait.

STU: We'll find out it was just a really long march all the way from Denver to Washington.

GLENN: Wow. On a plane in first class.

STU: Yes.

GLENN: (Laughing). So the word here is all about Al Sharpton and the counterdemonstration that he is doing. And I have to tell ya, you just lock arms and you don't pay attention to anybody else or anything else that is going on. You don't pay attention to any of it. Because it's not about them, and they have absolutely every right to protest or march or do whatever they want to do, and that's fine. You know, we'd sure love to have them listen. And, you know, instead of judging there's not even a we're not even judging a man by the content of his character. We're beyond even judging a book by its cover. They have no idea what's going to be said or done on stage and they're protesting it already.

PAT: Well, they know it's going to be hateful and they know it's going to be politically charged.

GLENN: Yes.

PAT: And they know you're involved, and that's all they need.

GLENN: That's all they need to know.

PAT: That's all they need.

GLENN: That's all they need to know.

STU: Isn't this one of those things with the media where Van Jones and ACORN where if you are reading a newspaper every day, you hear about a counterrally without ever hearing a story of the rally. Like, you don't even understand what it's a counter to because they didn't report the actual rally initially. They are just reporting the response to the rally that they never reported on.

GLENN: Here is my guess. The just like the coverage of the mosque now is only starting to cover the counter? Have you noticed that? Now if you watch the you'll only see these huge crowds in New York, huge crowds for the rallies, but they're spending most of the time talking to the people on the other side and the

PAT: The numbers for the mosque.

GLENN: That were for the mosque, and the numbers there are just almost nonexistent. My prediction is that this will be covered incorrectly, they will take one line from somebody or one thing or they will find one person on the stage that shouldn't have been there and or there will be somebody in the crowd, whatever, they will focus on one thing.

STU: Yeah.

GLENN: And then all of the coverage will be about the counterrallies.

PAT: Well, that's why we keep saying, you've said it a thousand times, please leave your signs at home. Don't bring any signs. Because that's what they will focus on. If anybody says anything incendiary, that will be the story.

GLENN: Well, they will already, if anybody brings signs now, they will already focus on that and they will say, Glenn Beck said not to bring signs and yet people did it anyway.

PAT: They brandished placards. What was that story we had a couple of months ago? They were brandishing placards.

GLENN: Yeah.

PAT: Like it was a weapon or something.

STU: And this is what they are doing with the mosques, too, is they find the best spoken defender of the mosque that's standing out there and then they find the one idiot who's going, no Muslims in New York State! And they put them on you know, they are the voice of the movement in opposition.

GLENN: Yeah, they are the voice of the people. So it is, it is interesting to watch. Have you noticed that they are starting to merge together? Do you happen to have the Howard Curtis CNN thing?

PAT: Yes.

GLENN: They are starting to merge together. This 8/28, which has nothing to do with the mosque thing, nothing to do with it.

STU: No.

GLENN: Have you noticed they are merging?

STU: No, I haven't. Really?

GLENN: Oh, yeah. CNN is starting to merge the two together, I guess because I'm such a hateful person that even if I'm not talking about the mosque, they know I want to talk about the mosque.

STU: Right.

GLENN: And so now they are starting to merge together, and one of the ways they are merging together is, "Well, if the mosque is in poor taste, isn't 8/28 in poor taste? Shouldn't Glenn Beck give up 8/28 because..." well, first of all, I want you to know I haven't killed 3,000 people. I and my friends, nobody in my church, nobody in my faith and I stood up against the killing of 3,000 people. So I don't know where that connection is.

PAT: They seem to forget that slight detail.

GLENN: Right.

PAT: That extremists did, in fact, kill 3,000 people.

GLENN: Now, if you want to say the tea party, which they do, the tea party is akin to what's his name, the Oklahoma City bomber, Timothy McVeigh.

PAT: Timothy McVeigh.

GLENN: I don't think so.

STU: No.

GLENN: I'm clearly on the record for the last 15 years or how long ago did that happen? Ten years?

STU: Yeah.

GLENN: Clearly on the record being against that, too.

STU: Not to mention, too. You know, maybe I'm wrong on this. But when I think of 9/11, Ground Zero, you think of a somber site of remembrance. The "I Have a Dream" speech is triumphant moment.

GLENN: Yeah.

STU: It's not a it's a moment of the Civil Rights Movement, moving further the American dream, it's a great thing.

GLENN: Do you remember why we picked 8/28?

PAT: Yeah. Because first of all, 9/12 was a Sunday.

GLENN: Sunday, and I'm not going to have people try to gather on the Sabbath. I'm not going to ask them. How can you ask for the Lord's blessings if you are breaking the Sabbath.

PAT: And then the day before that's obviously 9/11, which you didn't want to mess with.

GLENN: Right, which I don't think we want to have. Can you imagine what people would have said? And they would have been right.

PAT: Exploiting 9/11...

GLENN: So we go back and we just look for an open date where the mall is open and we are open. Now, if this is a traditional event with Al Sharpton, how come there wasn't a hold on the Lincoln Memorial?

STU: So weird.

PAT: That's a good point

GLENN: Yeah. They do it every year, of course. So it was the only open date as close and you know what we argued at the time was that is move in weekend for colleges. And everybody said, Glenn, you are never going to be able to get people there because the colleges, everybody's taking their kids to school. And I said, well, I mean, there's no other open date. There was no other open date. So we took that date, we announced it from stage in Florida. By the time I got onto the bus, I was told that the New York Times had blogged and said that's 8/28. My response was, do we not own a Chase's Calendar? I said, they're going to kill us on this. Now CNN is reporting that, "Well, that's how little Martin Luther King's dream means to Glenn Beck."

STU: (Laughing).

GLENN: Because he didn't know. Is excuse me? I'm lucky to know my children's birth date.

STU: Yeah. Well, and let's not forget that, you know, 9/11 is a date, an event that's known by the date.

GLENN: Why do you know Pearl Harbor's date?

STU: Because of that one

GLENN: Because of the one speech, December 7th, 1941, a date which will live in infamy.

STU: Yeah.

GLENN: That's why you know it.

STU: Yeah.

GLENN: I know July 4th.

PAT: You don't remember when MLK said, I have a dream on this 8/28? That one day?

GLENN: That one day. No, I don't.

STU: Right. That event is known by "I have a dream." It's the "I Have a Dream" speech.

GLENN: I didn't know the date.

STU: I didn't know the date, either. The date is not important. What he said is important. That's the important thing.

GLENN: It's really amazing to me, it is really, truly amazing how people are taking his dream now, Al Sharpton is taking his dream and moving his dream from white people and black people and people of all color getting along, judging somebody by the content of their character, which we are a million miles away from. White, black, all of us, we're a million miles away from. Are we better than we were in 1963? You're damn right we are. We're a lot better than we were. Are we perfect? No. Will we ever? No. Look at the history of the world. It's not the history of our country. Look at the history of our world. One of the things that is keeping us separate is an incorrect reading of history. You don't know the truth about who the bad guys were and who the good.

[NOTE: Transcript may have been edited to enhance readability - audio archive includes full segment as it was originally aired]

Rapper Kendrick Lamar brings white fan onstage to sing with him, but here’s the catch

Matt Winkelmeyer/Getty Images for American Express

Rapper Kendrick Lamar asked a fan to come onstage and sing with him, only to condemn her when she failed to censor all of the song's frequent mentions of the “n-word" while singing along.

RELATED: You'll Never Guess Who Wrote the Racist Message Targeting Black Air Force Cadets

“I am so sorry," she apologized when Lamar pointed out that she needed to “bleep" that word. “I'm used to singing it like you wrote it." She was booed at by the crowd of people, many screaming “f*** you" after her mistake.

On Tuesday's show, Pat and Jeffy watched the clip and talked about some of the Twitter reactions.

“This is ridiculous," Pat said. “The situation with this word has become so ludicrous."

What happened?

MSNBC's Katy Tur didn't bother to hide her pro-gun control bias in an interview with Texas Attorney General Ken Paxton in the wake of the Santa Fe High School killings.

RELATED: Media Are Pushing Inflated '18 School Shootings' Statistic. Here Are the Facts.

What did she ask?

As Pat pointed out while sitting in for Glenn on today's show, Tur tried to “badger" Paxton into vowing that he would push for a magical fix that will make schools “100 percent safe." She found it “just wild" that the Texas attorney general couldn't promise that schools will ever be completely, totally safe.

“Can you promise kids in Texas today that they're safe to go to school?" Tur pressured Paxton.

“I don't think there's any way to say that we're ever 100 percent safe," the attorney general responded.

What solutions did the AG offer?

“We've got a long way to go," Paxton said. He listed potential solutions to improve school safety, including installing security officers and training administrators and teachers to carry a gun.

Pat's take:

“Unbelievable," Pat said on today's show. “Nobody can promise [100 percent safety]."

Every president from George Washington to Donald Trump has issued at least one executive order (with the exception of William Harrison who died just 31 days into his presidency) and yet the U.S. Constitution doesn't even mention executive orders. So how did the use of this legislative loophole become such an accepted part of the job? Well, we can thank Franklin Roosevelt for that.

Back at the chalkboard, Glenn Beck broke down the progression of the executive order over the years and discussed which US Presidents have been the “worst offenders."

RELATED: POWER GRAB: Here's how US presidents use 'moments of crisis' to override Constitutional law

“It's hard to judge our worst presidential overreachers on sheer numbers alone," said Glenn. “However, it's not a shock that FDR issued by far the most of any president."

Our first 15 presidents issued a combined total of 143. By comparison, Franklin D. Roosevelt issued 3721, more than twice the next runner up, Woodrow Wilson, at 1803.

“Next to FDR, no other president in our history attempted to reshape so much of American life by decree, until we get to this guy: President Obama," Glenn explained. “He didn't issue 3000, or even 1800; he did 276 executive orders, but it was the power of those orders. He instituted 560 major regulations classified by the Congressional Budget Office as having 'significant economic or social impacts.' That's 50 percent more regulations than George W. Bush's presidency — and remember, everybody thought he was a fascist."

President Obama blamed an obstructionist Congress for forcing him to bypass the legislative process. By executive order, President Obama decreed the U.S. join the Paris Climate Accord, DACA, the Clean Power Plan and transgender restrooms. He also authorized spying in US citizens through section 702 of FISA, used the IRS to target political opponents and ordered military action in Libya without Congressional permission.

All of these changes were accepted by the very people who now condemn President Trump for his use of executive orders — many of which were issued to annul President Obama's executive orders, just as President Obama annulled President Bush's executive orders when he took office … and therein lies the rub with executive orders.

“That's not the way it's supposed to work, nor would we ever want it to be," said Glenn. “We have to have the Constitution and laws need to originate in Congress."

Watch the video above to find out more.

Six months ago, I alerted readers to the very attractive benefits that the TreasuryDirect program offers to investors who are defensively sitting on cash right now.

Since then, those benefits have continued to improve. Substantially.

Back in November, by holding extremely conservative short-term (i.e., 6-months or less) Treasury bills, TreasuryDirect participants were receiving over 16x more in interest payments vs keeping their cash in a standard bank savings account.

Today, they're now receiving over 30 times more. Without having to worry about the risk of a bank "bail-in" or failure.

So if you're holding cash right now and NOT participating in the TreasuryDirect program, do yourself a favor and read on. If you're going to pass on this opportunity, at least make it an 'eyes-wide-open' decision.

Holding Cash (In Treasurys) Now Beats The Market

There are many prudent reasons to hold cash in today's dangerously overvalued financial markets, as we've frequently touted here at PeakProsperity.com.

Well, there's now one more good reason to add to the list: holding cash in short-term Treasurys is now meeting/beating the dividend returns offered by the stock market:

"Cash Is King" Again - 3-Month Bills Yield More Than Stocks (Zero Hedge)
'Reaching for yield' just got a lot easier...
For the first time since February 2008, three-month Treasury bills now have a yield advantage over the S&P; 500 dividend yield (and dramatically lower risk).
Investors can earn a guaranteed 1.90% by holding the 3-month bills or a risky 1.89% holding the S&P; 500...

The longest period of financial repression in history is coming to an end...

And it would appear TINA is dead as there is now an alternative.

And when you look at the total return (dividends + appreciation) of the market since the start of 2018, stocks have returned only marginally better than 3-month Treasurys. Plus, those scant few extra S&P; points have come with a LOT more risk.

Why take it under such dangerously overvalued conditions?

If You Can't Beat 'Em, Join 'Em

In my June report Less Than Zero: How The Fed Killed Saving, I explained how the Federal Reserve's policy of holding interest rates at record lows has decimated savers. Those who simply want to park money somewhere "safe" can't do so without losing money in real terms.

To drive this point home: back in November, the average interest rate being offered in a US bank savings account was an insutling 0.06%. Six months later, nothing has changed:

(Source

That's virtually the same as getting paid 0%. But it's actually worse than that, because once you take inflation into account, the real return on your savings is markedly negative.

And to really get your blood boiling, note that the Federal Reserve has rasied the federal funds rate it pays banks from 1.16% in November to 1.69% in April. Banks are now making nearly 50% more money on the excess reserves they park at the Fed -- but are they passing any of that free profit along to their depositors? No....

This is why knowing about the TreasuryDirect program is so important. It's a way for individual investors savvy enough to understand the game being played to bend some of its rules to their favor and limit the damage they suffer.

Below is an updated version (using today's rates) of my recap of TreasuryDirect, which enables you to get over 30x more interest on your cash savings than your bank will pay you, with lower risk.

TreasuryDirect

For those not already familiar with it, TreasuryDirect is a service offered by the United States Department of the Treasury that allows individual investors to purchase Treasury securities such as T-Bills, notes and bonds directly from the U.S. government.

You purchase these Treasury securities by linking a TreasuryDirect account to your personal bank account. Once linked, you use your cash savings to purchase T-bills, etc from the US Treasury. When the Treasury securities you've purchased mature or are sold, the proceeds are deposited back into your bank account.

So why buy Treasuries rather than keep your cash savings in a bank? Two main reasons:

  • Much higher return: T-Bills are currently offering an annualized return rate between 1.66-2.04%. Notes and bonds, depending on their duration, are currently offering between 2.6% - 3.1%
  • Extremely low risk: Your bank can change the interest rate on your savings account at any time -- with Treasury bills, your rate of return is locked in at purchase. Funds in a bank are subject to risks such as a bank bail-in or the insolvency of the FDIC depositor protection program -- while at TreasuryDirect, your funds are being held with the US Treasury, the institution with the lowest default risk in the country for reasons I'll explain more in a moment.

Let's look at a quick example. If you parked $100,000 in the average bank savings account for a full year, you would earn $60 in interest. Let's compare this to the current lowest-yielding TreasuryDirect option: continuously rolling that same $100,000 into 4-week T-Bills for a year:

  1. Day 1: Funds are transferred from your bank account to TreasuryDirect to purchase $100,000 face value of 4-week T-Bills at auction yielding 1.68%
  2. Day 28: the T-Bills mature and the Treasury holds the full $100,000 proceeds in your TreasuryDirect account. Since you've set up the auto-reinvestment option, TreasuryDirect then purchases another $100,000 face value of 4-week T-Bills at the next auction.
  3. Days 29-364: the process repeats every 4 weeks
  4. Day 365: assuming the average yield for T-Bills remained at 1.68%, you will have received $1,680 in interest in total throughout the year from the US Treasury.

$1,680 vs $60. That's a 27x difference in return.

And the comparison only improves if you decide to purchase longer duration (13-week or 26-week) bills instead of the 4-week ones:

Repeating the above example for a year using 13-week bills would yield $1,925. Using 26-week bills would yield $2,085. A lot better (34x better!) than $60.

Opportunity Cost & Default Risk

So what are the downsides to using TreasuryDirect? There aren't many.

The biggest one is opportunity cost. While your money is being held in a T-Bill, it's tied up at the US Treasury. If you suddenly need access to those funds, you have to wait until the bill matures.

But T-Bill durations are short. 4 weeks is not a lot of time to have to wait. (If you think the probability is high you may to need to pull money out of savings sooner than that, you shouldn't be considering the TreasuryDirect program.)

Other than that, TreasuryDirect offers an appealing reduction in risk.

If your bank suddenly closes due to a failure, any funds invested in TreasuryDirect are not in your bank account, so are not subject to being confiscated in a bail-in.

Instead, your money is held as a T-Bill, note or bond, which is essentially an obligation of the US Treasury to pay you in full for the face amount. The US Treasury is the single last entity in the country (and quite possibly, the world) that will ever default on its obligations. Why? Because Treasurys are the mechanism by which money is created in the US. Chapter 8 from The Crash Course explains:

As a result, to preserve its ability to print the money it needs to function, the US government will bring its full force and backing to bear in order to ensure confidence in the market for Treasurys.

Meaning: the US government won't squelch on paying you back the money you lent it. If required, it will just print the money it needs to repay you.

So, How To Get Started?

Usage of TreasuryDirect is quite low among investors today. Many are unaware of the program. Others simply haven't tried it out.

And let's be real: it's crazy that we live in a world where a 1.68-2.09% return now qualifies as an exceptionally high yield on savings. A lot of folks just can't get motivated to take action by rates that low. But that doesn't mean that they shouldn't -- money left on the table is money forfeited.

So, if you're interested in learning more about the TreasuryDirect program, start by visiting their website. Like everything operated by the government, it's pretty 'no frills'; but their FAQ page addresses investors' most common questions.

Before you decide whether or not to fund an account there, be sure to discuss the decision with your professional financial advisor to make sure it fits well with your personal financial situation and goals. (If you're having difficulty finding a good one, consider scheduling a free discussion with PeakProsperity.com's endorsed financial advisor -- who has considerable experience managing TreasuryDirect purchases for many of its clients).

In Part 2: A Primer On How To Use TreasuryDirect, we lay out the step-by-step process for opening, funding and transacting within a TreasuryDirect account. We've created it to be a helpful resource for those self-directed individuals potentially interested in increasing their return on their cash savings in this manner.

Yes, we savers are getting completely abused by our government's policies. So there's some poetic justice in using the government's own financing instruments to slightly lessen the sting of the whip.

Click here to read Part 2 of this report (free executive summary, enrollment required for full access)

NOTE: PeakProsperity.com does not have any business relationship with the TreasuryDirect program. Nor is anything in the article above to be taken as an offer of personal financial advice. As mentioned, discuss any decision to participate in TreasuryDirect with your professional financial advisor before taking action.