8.28.10: The Documentary
This is our first full-length documentary and it’s going to blow you away. It’s an exclusive inside look at the making of the 8-28 Rally. When we say exclusive, we mean it. From the time Glenn arrived in Washington DC to the time he took the stage our cameras were rolling. You will not believe what went on behind the scenes. Learn more...
GLENN: I want to talk to you a little bit about the lies that we have had. I played Brother, Can You Spare A Dime and Happy Days Are Here Again at the top of the hour to show you that the lies haven't changed, they haven't changed. That was the Great Depression and we're repeating everything in the from depression with you her adding something oh, so special to it. We're adding just a touch of the Viamar Republic. The reason why you don't print money is, well, first, we had a promise made in Bretton Woods, called Bretton Woods I and then Bretton Woods II, where we said, We'll be the gold standard. We'll never devalue our money. Well, we have. We did it -- first we got off the gold standard in the 1960's and then we said, we're just going to buy everything. The reason why you can't stop buying stuff is because we promised the rest of the world that's what he would do. We'll build their economies by buying stuff from them. When we got off the gold standard because we wanted the great society, that was the deal. We had Vietnam and the great society. We couldn't afford it. We didn't have enough gold. We said we're going off the gold standard. The world freaked out. We said, Don't worry. We're not going to make refrigerators or TV's anymore. Japan, you can make the TV's and somebody else, China, you can make the refrigerators. We'll buy it from you. So, you'll get our money. That was by design.
You don't print money because it devalues. They are stealing from your wallet and your bank account right now as the more the money -- the more money they print, the less your dollar is worth. That's why you will see oil prices go up, because it's pegged to the dollar. So, Saudi Arabia gets their money one way or another. We can have plenty of oil, but as they devalue our dollar, if it's $80 for a barrel of oil and we say we're going to -- we're going to print more money, they'll say, that's fine. Then that same $80 a barrel, it's now 85 because you've just knocked $5 of value off of your 80. So, we'll just keep charging you more. Prices go up. Your dollar is worth less. Viamar got into the trap of we can't afford it, it will trash if we don't, exactly the same things that you're hearing now. If we don't spend money -- remember Joe Biden, well, if we don't spend money, you'll say the mow, Joe, how can -- we've got to spend money to get out of this great debt? Yes, that's what I'm telling you. Remember that? That is the Viamar trap. You've got to spend money and keep printing it and if you don't, the economy stops and then it's chaos. But the other side is if you keep printing it, you'll never be able to get out of it and so your money will be worthless. Bring in spooky dude, George Soros who says what we need is a managed decline of the U.S. dollar because it's time for one global currency. Mark my words, you watch for George Soros to say these words: I don't believe Washington has a handle on this. They're -- he'll most likely say they're going to stop spending money or they're going to give these tax cuts and I don't believe that the U.S. currency, I don't believe the dollar is going to last. I'm very concerned about it. When that happens, it's the beginning of the end. Mark my words. Watch for his words. It's only happened four times in world history, right before a monetary crash and all four times it's been George Soros who has published those words.
Ben Bernanke first said under oath, we are not monetize our own debt, meaning we're not going to buy our own debt. That's you saying, Oh, Glenn, I need to borrow money for a house. Okay, Glenn. Are you going to pay me back? Yes, I am, Glenn. Okay. Then I'm going to charge you 5% interest. Okay, Glenn. Can we make it 4? Okay, Glenn. It's 4, but you've got to promise you're going to pay me back and you take the money out of your wallet and then you just take a piece of paper and pencil and you write, I owe you the money for the house. Okay, Glenn. You better pay me back. That's what's happening. They said they wouldn't do it. Then we caught them about a year ago because we tracked the bond numbers. When they sell a bond, they were selling it through a third party and then buying it back themselves two weeks later. They didn't want to get caught. Now they're just saying they're going to do it.
Do you remember when they said there wouldn't be inflation? We're not going -- these people like Glenn Beck, they're so worried about inflation. (Laughter.) We're worried about deflation. Yes, I'm worried about deflation, too, but at some point inflation is coming.
I don't think our houses have lost all of the value yet. I don't think we're at the bottom, gang. Do you? And then inflation, they're now seeing this week inflation is going up. Why? How is that possible? Bernanke is now saying we had high index rates. Joe, is that right on the bonds? It's an in flex rate, right? Interest? How about -- I'm trying to remember what that's called when you have to increase the payout. Pardon me? No, no, no. For the port bonds. Anyway, they have to give you more money in the future to buy these bonds. It's interest, really. That is a sign of trouble, huge spike in the bond sales this week, meaning people don't want to buy them. So, the Fed is buying them directly now and the Fed says, We have to print more money. Pat, when are they printing more money? Is it next month?
PAT: November, yeah.
GLENN: November they're printing more money. Gang, it's coming. What was required at Viamar was this: Politicians who explained to the German people, Guys, we are going to go through hell. We are going to go -- we're going to -- when we stop printing money, we're going to -- it's going to fall apart and people are going to lose their jobs, but we have faith in people that we can hold it together and we can restart our economy. That's the conversation that we need to have here in America, but no one will have it. Instead, they are wishing and hoping that hope and changety change, change, change will somehow or the other work for the first time in human history.
PAT: And they seem to be setting up exactly what happened in the Viamar Republic to finally turn that situation around.
PAT: And that's after the hyperinflation, what saved Germany? They valued land. They went to a land standard and that's what -- they burned the rest of the money and they based it all on land and what is the Federal Government doing here now? But taking over all our property.
GLENN: They're taking the property. They're --
PAT: 98% of all new mortgages.
GLENN: They've got all -- 98% of all new mortgages are underwritten by the Federal Government. You will become a renter to the Federal Government. If there's any way you can pay off your house, you should pay off your house. And I know people will say that's nuts, but I'm telling you, you've got to own things, because that is what they did in Viamar. They just took it. I don't know if you're going to be able to keep it. We've never been in this situation before. Very few countries have and none of them have come out the other side. That's how dire this situation is.