Glenn Beck: Dollar reacts to Fed rate cut

GLENN: 888-727-BECK, 888-727-BECK. Go to Stephen Moore who is chief editorial writer of the financial section of the Wall Street Journal. Hello, Stephen.

MOORE: Good morning, Glenn.

GLENN: I know this is out of your purview here but I have to ask you your thoughts on Obama's speech yesterday.

MOORE: I didn't see it. You know where I am? I'm in the Colorado mountains trying to get away from it all for a few days.

GLENN: Oh, no, you are kidding me. Well, then why would -- I'm sorry, Stephen. I didn't know that you were on vacation. You shouldn't be answering your phone.

MOORE: Did this have to do with his minister?

GLENN: Yeah, you are not even watching -- you are so disconnected from the news, you are not watching any of this?

MOORE: Only the financial news.

GLENN: Oh, goodness, yeah. It's about as good, it's out of control.

MOORE: Look, I think this is a big problem for Barack Obama because, you know, people -- he has been the candidate who's trying to bring the races together but it just makes him look so hypocritical, the fact that he's been a member of this church and he's gone to this -- you know, it's not like he chose -- this pastor chose him. He chose this pastor.

GLENN: Yeah. And you know what's really weird is he's denying, you know, that he had -- you know, he's never been a political advisor. "He's my pastor" was one of the quotes, but that's not true. According to Bloomberg he was on an advisory committee and he forced him to resign. I mean, you know, the guy who's, you know, a more straight talker than John McCain is lying about this and it's just, it's not good. It's not going to --

MOORE: It also reinforces the fact that, you know, I always called Barack Obama the Manchurian candidate because we don't know anything about this guy. Three years ago he was a back bencher in the Illinois state Senate.

GLENN: All right. Let me change subject here. I know you've been away. So hopefully you've been following everything. Real quick nutshell question here is everybody's celebrating Bernanke, everybody's saying this is all great, this is great for Wall Street, yada, yada, yada. I know you and I have talked before about the dollar. I'm concerned about the falling dollar. I saw three stories today in the Netherlands: They are no longer exchanging the dollar unless it's a major bank because these currency places don't want the dollar. Vietnam is trying to unpeg completely now from the dollar and the Gulf region is saying now their inflation is so bad, they may have to unpeg from the dollar.

MOORE: Yeah. And, you know, one of the reasons the U.S. economy has been so strong over the last 20 years is because the dollar has been strong. And as Reagan put it, you know, we were going to make the dollar as good as gold again. And if you look at the numbers right now, if you look at, you know, 2001, gold was selling at $300 an ounce. Today it's selling at $1,000 an ounce. So that is the very definition of a currency that is falling in value and a currency that is inflated, and we have inflation now in the economy and we have a extremely weak dollar and this is, I think, the biggest problem with the U.S. economy, even bigger problem than the housing crisis. We can get beyond this housing crisis but we cannot get beyond -- we're not going to grow as an economy if our currency is devaluing in value.

GLENN: Right. And so the only way to revalue your currency is to do the opposite of what the Fed is doing.

MOORE: I could not agree more. You know, the Fed, I think, made a big mistake yesterday. I think lowering interest rates just pumps more dollars into the economy at a time that the Fed probably should be pulling back on the number of dollars. I mean, it goes back to your basic Economics 100 course which is that inflation is too many dollars chasing too few goods. There are too many dollars out there right now, Glenn, and it makes no sense for the Fed to be putting more dollars out there.

GLENN: Okay. I'm doing a story tonight, Stephen, on TV about, we have an expert on the Japanese financial crisis.

MOORE: Yes.

GLENN: And, you know, how they were just leading the world and everything was great. The Fed is doing exactly what the Japanese did which destroyed their economy for a long, long time. But the one fundamental difference is that they were savers and they were selling us televisions. So their economy kept going because they were selling us cars and televisions. We're consumers. We're buying the televisions and the cars. So once we stop -- and we don't save. Once we stop spending, there is no more engine left in this car. Right or wrong?

MOORE: Well, I think that's the reason why if the U.S. economy goes into a recession -- I think we are in a recession right now -- the rest of the world cannot delink from the United States because we're the consumers who buy all the products from the rest of the world. But, you know, your Japan analysis is an interesting one because Japan went through a ten-year recession, a ten-year recession because, you know, the stock market in Japan fell by 2/3 over 10 years. Now, I don't think we're headed into that kind of dire situation but it shows what happens when you lose control of your currency.

GLENN: You and I sat down to dinner, I don't know, eight months ago, six months ago and you said you're worried about a spiral of the dollar that all of a sudden it could just spiral out of control. Are we at the same place? Is your fear less, greater, or about the same?

MOORE: Oh, my goodness. I mean, back then when you and I had dinner, I think the dollar was selling -- I mean, gold was selling at about $750 an ounce. Now it's $100. I mean, the reason we have $110 oil today, a barrel of oil sells for, like, $110 is because of the devaluation of the U.S. dollar.

GLENN: What happens, Stephen, if these countries unpeg from the dollar?

MOORE: It makes our economy weaker. We've always benefitted from the fact that the dollar has been the reserve currency around the world. I mean, it used to be that you could go anywhere in the world from, you know, Russia to Cuba and what everybody wanted was dollars. I know you've traveled around the world. You know that. And now people thumb their nose at the dollar. I mean, my goodness, the Canadian dollar's now worth more than the U.S. dollar.

GLENN: Stephen, you're a smart guy. I'm a self-educated guy. I can see this. You can see this. All you have to do is read history. It's almost as if we're being devalued intentionally. Any chance -- I mean, I know this is conspiracy lane, but how are these really smart people doing these things?

MOORE: You know, I was just wondering that. You asked the same question. I've been scratching my head wondering the same thing. I mean, what I'm very worried about, Glenn, is not so much a recurrence of what happened in Japan but rather what happened in the U.S. economy in the bad old days of the 1970s. You know, think about the 1970s. We had high inflation, rising taxes and government spending out of control. Now, gee, doesn't that sound familiar. That's exactly what's happening today. We've got rising inflation, we've got the Democrats talking about raises every tax they can get their hands on, we've got the government spending out of control. This is the 1970s all over again. It's the 1970s show.

GLENN: You've got to -- you go to the nearest town and get a copy of today's Wall Street Journal and read the editorial by Rahm Emmanuel, a new deal for the new economy.

MOORE: It's horrible.

GLENN: You read it?

MOORE: Yes. It's unbelievable. These guys really think that we can spend our way out of this crisis. I was watching CNN the other night and they had Al Franken. Do you know who Al Franken is?

GLENN: Unfortunately, yes.

MOORE: He's running for state Senate in Minnesota. The guy does not have his tray table in the upright locked position. This is a guy who thinks all we have to do in the government is spend more money and we won't have a recession.

GLENN: I'm going to let you go back to vacation. Sorry to get you all riled up so early in the morning out in Colorado. I appreciate it, Stephen, we'll talk to you again soon.

MOORE: Okay, see you, Glenn.

GLENN: All right. Bye-bye.

Acclaimed environmentalist and author of "Apocalypse Never" Michael Shellenberger joined Glenn Beck on the radio program Wednesday to warn us about the true goals and effects of climate alarmism: It's become a "secular religion" that lowers standards of living in developed countries, holds developing countries back, and has environmental progress "exactly wrong."

Michael is a Time "Hero of the Environment," Green Book Award winner, and the founder and president of Environmental Progress. He has been called a "environmental guru," "climate guru," "North America's leading public intellectual on clean energy," and "high priest" of the environmental humanist movement for his writings and TED talks, which have been viewed more than 5 million times. But when Michael penned a stunning article in Forbes saying, "On Behalf of Environmentalists, I Apologize for the Climate Scare", the article was pulled just a few hours later. (Read more here.)

On the show, Micheal talked about how environmental alarmism has overtaken scientific fact, leading to a number of unfortunate consequences. He said one of the problems is that rich nations are blocking poor nations from being able to industrialize. Instead, they are seeking to make poverty sustainable, rather than to make poverty history.

"As a cultural anthropologist, I've been traveling to poorer countries and interviewing small farmers for over 30 years. And, obviously there are a lot of causes why countries are poor, but there's no reason we should be helping them to stay poor," Michael said. "A few years ago, there was a movement to make poverty history ... [but] it got taken over by the climate alarmist movement, which has been focused on depriving poor countries, not just of fossil fuels they need to develop, but also the large hydroelectric dams."

He offered the example of the Congo, one of the poorest countries in the world. The Congo has been denied the resources needed to build large hydroelectric dams, which are absolutely essential to pull people out of poverty. And one of the main groups preventing poor countries from the gaining financing they need to to build dams is based in Berkeley, California — a city that gets its electricity from hydroelectric dams.

"It's just unconscionable ... there are major groups, including the Sierra Club, that support efforts to deprive poor countries of energy. And, honestly, they've taken over the World Bank [which] used to fund the basics of development: roads, electricity, sewage systems, flood control, dams," Micheal said.

"Environmentalism, apocalyptic environmentalism in particular, has become the dominant religion of supposedly secular people in the West. So, you know, it's people at the United Nations. It's people that are in very powerful positions who are trying to impose 'nature's order' on societies," he continued. "And, of course, the problem is that nobody can figure out what nature is, and what it's not. That's not a particular good basis for organizing your economy."

Watch the video below to catch more of the conversation:

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Dr. Voddie Baucham, Dean of Theology at African Christian University in Lusaka, Zambia, joined Glenn Beck on the radio program to explain why he agrees with Vice President Mike Pence's refusal to say the phrase "Black Lives Matter."

Baucham, who recently drew national attention when his sermon titled "Ethnic Gnosticism" resurfaced online, said the phrase has been trademarked by a dangerous, violent, Marxist movement that doesn't care about black lives except to use them as political pawns.

"We have to separate this movement from the issues," Baucham warned. "I know that [Black Lives Matter] is a phrase that is part of an organization. It is a trademark phrase. And it's a phrase designed to use black people.

"That phrase dehumanizes black people, because it makes them pawns in a game that has nothing whatsoever to do with black people and their dignity. And has everything to do with a divisive agenda that is bigger than black people. That's why I'm not going to use that phrase, because I love black people. I love being black."

Baucham warned that Black Lives Matter -- a radical Marxist movement -- is using black people and communities to push a dangerous and divisive narrative. He encouraged Americans to educate themselves on the organization's agenda and belief statement.

"This movement is dangerous. This movement is vicious. And this movement uses black people," he emphasized. "And so if I'm really concerned about issues in the black community -- and I am -- then I have to refuse, and I have to repudiate that organization. Because they stand against that for which I am advocating."

Watch the video below to catch more of the conversation:

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We're going to be doing an amazing broadcast on Thursday, July 2nd, and we will be broadcasting a really important moment. It is restoring truth. It is restoring our history. It is asking to you make a covenant with God. The covenant that was made by the Pilgrims. And it's giving you a road map of things that we can do, to be able to come back home, together.

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On last week's Wednesday night special, Glenn Beck revealed where the Black Lives Matter organization really gets its funding, and the dark money trail leading to a cast of familiar characters. Shortly after the program aired, one of BLM's fiscal sponsors, Thousand Currents, took down its board of directors page, which featured one of these shady characters:

Ex-Marxist professor and author of "Beyond Woke," Michael Rectenwald, joined Glenn Beck on the TV show to fill us in on the suspicious change he discovered on the Thousand Currents webpage and the Communist terrorists who is now helping run the organization. (Fortunately, the internet is forever, so it is still possible to view the board of directors page by looking at a web archive from the WayBack Machine.)

Rectenwald revealed the shocking life history of Thousand Currents' vice chair of the board, Susan Rosenberg, who spent 16 years in federal prison for her part in a series of increasingly violent acts of terrorism, including bombing the U.S. Capitol building, bombing an FBI building, and targeting police for assassination.

"Their whole campaign was one of unbelievably vicious, murderous cop killings, assassinations, and bombings," explained Rectenwald of Rosenberg's terror group known as the May 19th Communist Organization or M19.

Watch the video below to catch more of the conversation:


Glenn's full investigation into the dark origins of the funding behind Black Lives Matter is available for BlazeTV subscribers. Not a subscriber? Use promo code GLENN to get $10 off your BlazeTV subscription or start your 30-day free trial today.

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