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.

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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The fall of Lehman Brothers in 2008 marked the largest bankruptcy filing in U.S. history and economic collapse was felt throughout the world. But now China's own version of Lehman Brothers, Evergrande, is teetering closer and closer to that edge, too. On the radio program Thursday, Glenn Beck gave the latest update and predicted how it will affect Asian markets and what it could mean for America's economy.

Glenn explained why he believes a major collapse that is happening now in China will have a cascading effect into a "controlled collapse," a managed decline that will dramatically change America's economy and the way we all live.

"You will not recognize your lifestyle. Hear me," Glenn warned. "And that's not a right-left thing. That's a right-wrong thing. We're on the wrong track. I'm telling you now, there's new information and you are not going to recognize the American lifestyle. ... It could happen tomorrow. It could happen in five years from now, but it will happen. We are headed for a very different country. One where you don't have the rights that you have. And you certainly don't have the economic privileges that Americans are used to."

"The same thing that happened in 2008 is now happening in China," Glenn continued. "This time, it's going to take everything down. When it collapses, it will take everything down."

Watch the video below to hear Glenn break down the details:

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Justin Haskins, editorial director of the Heartland Institute, joined Glenn Beck on the radio program to expose a shocking conversation between two Great Reset proponents — Klaus Schwab, chairman of the World Economic Forum, and Christine Lagarde, president of the European Central Bank (Europe's equivalent to the Fed).

The way Schwab and Lagarde discuss the role central banks should play in establishing societal norms, determining your way of life, and defending against potential crisis is proof that the Great Reset is upon us, Justin explained. And the scariest part is that they're not even trying to hide it. The entire, unbelievable conversation has been published on the WEF website, which you can read here.

Glenn read an excerpt from the conversation:

Christine Lagarde: At the ECB, we have now wrapped up and concluded our strategy review, which was the first one in 17 years. And I was blessed to have an entire Governing Council unanimously agree that the fight against climate change should be one of the considerations that we take when we determine monetary policy. So at least the European Central Bank is of the view that climate change is an important component in order to decide on monetary policy. ...

Can we arrive at that trade-off between fighting climate change, preserving biodiversity and yet securing enough growth to respond to legitimate demands of the population? And my first answer, Klaus, to be firm, is that to have a way of life, we need life. And in the medium term, we do have major threats on the horizon that could cause the death of hundreds of thousands of people. So we have to think life, first. We have to think way of life, second. ...

So we have to think life, first. We have to think way of life, second. How can we come together to make sure that we secure the first priority, which is life, and also protect the way of life that people have? And make sure that the cost of it is not so high for some people, that they just cannot tolerate it. I think that the trade-off that we reach will probably require some redistribution, because it is clear that the most exposed people, the less privileged people are those that are going to need some help.

"Do you understand, America, what that means?" Glenn exclaimed. "You have elites, that you never elected, that are having these meetings ... deciding what is a legitimate need for you. And telling you that your needs are going to go away in your lifetime. You may not see a time where you get wants again. Just your needs are going to be addressed. Am I reading this wrong?"

"This is absolutely what is being said here," Justin agreed. "She's very clear that we need to make sure that way of life is second to life. We have to save all these people, hundreds of thousands of people are going to die from this supposedly existential threat of climate change. And their wants, and their desires, and their quality of living, all of that has to come second."

"This is a central bank saying this. This is not an elected official, who is accountable directly to the people. This is a central bank saying, we're going to print money. We're going to use monetary policy, to impose these ideas, to rework society in order to accomplish our goals," Justin added, addressing Lagarde's call for "some redistribution."

Will Great Reset elites — not elected by the U.S. — soon be dictating to the rest of the world? Watch the video clip below to hear Glenn and Justin break it down:

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