Glenn and David Barton look at slavery and its roots from 1619 to 1865. How did slavery start? Were the founders villain slave owners or enlightened? What is the WHOLE Civil Rights Movement? Who are the black heroes we’ve never heard of? This episode reveals answers to these questions and more.
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War & civil unrest: What could happen if the BANKS COLLAPSE
Glenn doesn’t believe America’s recent banking crisis is the big one he’s been warning about…but that one still may be just around the corner. And the numbers he shares in this clip at least show that the big banks aren’t looking good. So, what’s next? In this clip, Glenn details several scenarios — like war and massive, civil unrest — that could occur if and when the banks collapse. He explains why bank failures could lead to a central bank digital coin and also why you MUST not panic: ‘Panic makes this whole thing happen…
Below is a rush transcript that may contain errors
GLENN: If you're a long-time listener of this program, you know I'm always concerned with the financial crisis. It stems back to 2008, which I thought at the time, back in 2006 and '7, I was telling you, this is a big one. Could cause depression. What I didn't foresee, was that the federal government, what was it that George Bush said? Violate the free market system to save the free market system. Instead, we did not save the free market system. What we did was make the problem bigger. At the time, in 2008, our banks were too big. Too big to fail. We have to break these big banks up.
Well, nobody did that in 2008. In fact, the opposite happened. They got bigger. And now well, what's happening?
They're bailing the bigger banks out. Making the big banks bigger. Credit Suisse just rolled into a big bank. This is what will happen. We will end up with four banks. And then we will end up with the fed.
And by violating the free market, everything went off the rails. Last week, banks borrowed a combined $164.8 billion, from two Federal Reserve backstop facilities.
And so you know, data published by the fed showed 152.85 billion in borrowing from the discount window.
Then, they did a record high from 4.85 billion, the previous week. So they went from 5 billion to 152 billion, in a week.
The prior all-time high was in 2008. And that's when the banks got together, and they borrowed $111 million. That was at the height of the financial crisis.
Remember, we're not in a financial crisis. We had a little bump in the road. Everything is fine. They borrowed 152 million.
So what? 41 billion more, than they did in 2008.
STU: To be fair, with inflation, that number is 94 trillion today.
GLENN: The data also showed, 11.9 billion in borrowing from the new emergency backstop known as the bank term funding program, which was launched last week.
Other credit extensions totaled 142.8 billion dollars.
So you got all that. You got all that happening, in the background of everybody telling you, that it is fine.
I want you to know, if you're a long-time listener, you know that I freak out about these things.
I said last week, I don't think this is it. But it will look a lot like this, when it does come.
And I want to spend just a couple of minutes here, talking to you about what is coming eventually.
I -- I could be wrong, this could be it.
I don't think it is. But I am growing more cautious by seeing what's happening behind the scenes.
Lots of planes. Lots of planes flew in to see Warren Buffett over the weekend, after Warren Buffett had a phone call with Joe Biden about the banking system, all these people, we don't know who they are, we think they went and met with Warren Buffett. We don't know. But what I do know, is in 2008, we were trying to stop a depression. Remember? They said, the entire banking system was about to collapse. And it would have put us in a depression. There's $23 trillion in the US banking system today. And everything is interconnected.
The contagion, meaning one bank falls, and then it's dominoes. It goes across the water. And it will collapse everything, unless you're disconnected.
Hello, Russia. Unless you're disconnected from that banking system. The banks were saved in 2008.
But just that crisis, with them being saved, we had unemployment at nearly 11 percent.
We are now looking at a bigger problem, if it fails.
We're looking first at our big local and regional banks.
The government will have to bail them out. By the way, do not take your money out of those banks.
You will be FDIC-insured. If you're a business, check with the bank. But don't take your money out because that will collapse the system.
They provide 60 percent of all of our commercial loans.
If the small banks collapse, 60 percent of all of our loans, and our businesses collapse.
Be very, very bad.
We are not looking at a depression situation. We are looking at a complete collapse of the West if this happens. You'll have social unrest. But I think you're already. I mean, the government is assuming this up already.
It will happen not only here. But all over the western world.
That will cause a further breakdown of supply chains. If you lose 60 percent of your business funding, for your businesses and your country, what does that mean?
It means, you will have lots of people, without jobs, they're not making things.
Which then what happens?
You have the supply chain, you first need to worry about medicine and food.
Because that will be of a real concern. But if businesses lose their Capitol. They lose their ability to produce products and services. They lose their ability to employ. People lose their jobs.
That would make for worse inflation. Maybe hyperinflation. Because the federal government will bail everybody out. And all of that money. Will be circulating. And fewer goods, if the global economy were to collapse. Fewer goods would be coming in. So the price of those goods would go to hyperinflation. The issue is that the middle class. The working class. The poorer class. They're the ones who will bear the brunt of most of this.
Last time, around from 2007 to 2011, 5.7 million people, had their houses foreclosed, or short sale.
We are looking at a possible and it -- I really, truly believe this will happen before 2025, so you need to mentally prepare. This is a completely different world, if this happens.
And if it happens, it will happen quickly. We are headed towards a currency reset.
If it's a -- if it is a cryptocurrency, if it is a central bank digital coin. CBDC, we're going to get bargaining.
And here's what's going to happen. The government will step in, this is too big for anybody else to handle. We'll handle it with the fed. We're resetting the currency.
It's going to be a digital dollar. You will be in the fed.
Every American has an account now with the fed.
We will give you more than what your dollar is worth right now. For the first, I don't know, eight weeks.
Your dollar will be worth a dollar 25. So get your digital currency now.
And in six weeks, it will be worth a buck. And six weeks after that, it will worth 75 cents. Eventually, it will be worth nothing. And it will force everybody into a digital currency. Which will ultimately control absolutely everything you do, and a lower standard of life.
But a lot of people will be happy. Because there's some enormous. It also would mean that most likely, a war. All of these things are -- are beyond possible right now.
The financial and the reset to a digital currency is not just possible. It is probable.
The war. I don't know. What would you say, Stu? Probable? Or just still possible?
GLENN: Yeah, I think so too.
Probable. So you have to get yourself in a different mindset. Please.
I told my wife. And I'll tell you, because I want to tell you, what I would tell my own family.
We have to go shopping tonight. You know, we have our emergency food. But if this happens, you'll have a breakdown worse than COVID.
You won't be getting the money. The money will start to inflate quickly. Prices will spiral out of control.
And when you have -- especially in some areas, when you have a breakdown of trucking. Or supply chains. You will have a hard time getting things.
So I would just recommend, do not hoard, but grab some extra things, and have them ready.
This may not be the time. But I like to sleep at night.
Take care of your family, and do the right things. Do not panic.
Panic makes this whole thing happen. So do not panic.
Glenn: Do this TODAY to help stop possible Trump arrest
They’ve got the man. And now, the far-left is just trying to find the crime that will put him behind bars — and away from their political power — forever. It’s un-American, Glenn says, but thankfully YOU can help. Now may not be the time to march in the streets, but there is another way you can peacefully protest what the far-left is currently doing to our rule of law. And it’s simple: ‘Burn up those phone lines,’ Glenn says. ‘[Call] as many GOP representatives as you can possibly dial.’
Why a Trump indictment would make America a BANANA REPUBLIC
What is the far-left accusing Donald Trump of NOW? And will the former president truly be indicted? If so, what does this mean for America’s future? Alan Dershowitz, Harvard Law School Professor Emeritus and author of ‘Get Trump,’ joins Glenn to explain why this latest move from the far-left is ‘destroying the rule of law in America.’ He explains the exact charges the left intends to pit against Trump this time around, and why — if they’re successful — it could send our nation towards becoming a banana republic…
Below is a rush transcript that may contain errors
GLENN: Mr. Alan Dershowitz. How are you, sir?
ALAN: I am doing great. I wish the country were doing great. I think the impending prosecution of Donald Trump will destroy the rule of law, in America. Which is why I wrote my book, get Trump.
Because that's what they're doing. They're focusing on a person rather than a crime.
You know, the Torah, the Bible one, don't take bribes. That's obvious.
The other is do not recognize faces. Do not do justice based on who the person is. That's a problems in the Bible. That's a prohibition in the constitutionally. it's a prohibition into the rule of law.
And yet, the district attorney of Manhattan, ignoring previous district attorneys. Ignoring the US attorney's office. The Justice Department. Is going after a made-up crime. A crime that does not exist. It's part of the bet Trump.
And if you want to protest get Trump. Michael get Trump.
That will send a message, that will approve of that.
GLENN: Which a few years ago, it would have happened. But I don't think they're going to do it this time. Because we know this federal government. This Justice Department, does not protect the lawful gathering of American citizens to speak their voice.
We also are concerned about, is that an FBI guy, who is trying to get the crowd all whipped up into a frenzy?
I mean, we don't believe our rights are protected as an average citizen anymore. That's a frightening place to be in America.
ALAN: And it's not only the Justice Department. It's the New York City the attorney general of New York ran on the campaign of get Trump. That's where I I got the title of my book from. Her campaign, get Trump. Promise to get Trump no matter what. Constitutionally be damned. The Bill of Rights be damned. get Trump. That's the most important thing, to stop him from realizing. Of course, the irony is constitutionally provides for only, you know, a hand handful for bases for running. You have to be against the North.
And you have to have been been born in America. And he satisfies all of that criteria. So stibbling run.
And this may backfire on Democrats who are abusing the law to get Trump.
And I hope that does. And I hope that maybe the district attorney will listen to reason. And will not indict him.
You know, justice Jackson once said, that any prosecutor can rummage among the hundreds of statutes that you have. And try to find something against anybody. Not just Trump. Not just Hillary Clinton.
But you and me. And your uncle Charlie and grandson. They can find something. And if this prosecution is allowed to go forward, and culminate in the conviction. It will mean that they will start making crimes up against the average person, who they don't like.
GLENN: Can you -- can you take us through this at all, Alan.
Because people will say, okay. I don't think you should be paying hush money. Is that illegal? What charges are they so that we don't
ALAN: Sure. It's never been done before, number one. So they're charging him with a misdemeanor. Misdemeanor six years ago. They are trying to turn the misdemeanor into a felony, by saying that the reason he paid, quote, hush money. It wasn't hush money. But the reason he settled the case was to help his campaign, rather than to avoid embarrassment with his wife and his family. his children, et cetera.
They're not going to be able to a prosecutor can a little grandly Jill to indict a ham sandwich.
And in New York, you can do probably get a petit jury to change sandwich, as long as his name is Trump.
So there is a possibility that he will get indicted and get convicted. I think it will reverse on appeal. in making up crimes. This is making up crime.
So they say that he paid the hush money, in order to help his campaign. And therefore, the payment was a campaign contribution.
It's never been done before. They tried it once before, on candidate Edwards. And it was a much, much stronger case. And, of course, they lost in front of a jury.
But it's never been tried since. And that was a federal crime.
This is a state crime. And it's a shame that a district attorney would abuse justice so greatly. And it endangers justice for all of us.
GLENN: So, Alan, where is anyone?
When we get to a place to where we're taking out our opponents.
I mean, I spoke to Mike Lee about this. With Hillary Clinton. And what was going on with Hillary Clinton. And he said, Glenn, once you start going after an opponent, you become a banana republic, the republican is just over.
because the retribution. The other side will say, oh, we're playing that? once said, well, my friends everything. For my enemies, the law. The law.
And that's what will happen.
And senator Lee is right. Senator Lee's father is a good friend of mine. We clerked technology on the United States Supreme Court. And Lee is a Bill Clinton, Bill Clinton guy. And he's right, we don't want to be a banana republic on either side.
GLENN: So my question to you is: Where are the classical liberals?
Where are the people that don't like Donald Trump? But will stand up and say, this is about principle here?
SPEAKER ONE: Well, you're talking to them. I'm the last standing, oh, I may have a handful of colleagues.
But where are the civil liberties union people?
Where are people who are supposed to care more about our liberty than they do about partisan politics?
They have disappeared. They're not there.
And that's not why I'm the one writing the books now. Get Trump. I'm the one who is trying as a liberal Democrat. As I said over and over again.
I voted for Trump twice. I have a constitutional right to vote and don't stop me from doing that. Don't stop me from making the disquisition run, formal president.
That is banana republic. And we're moving toward that. And it has to stop. And there's no mechanism.
You know, in California, there was a mechanism. You could withdraw and remove the district attorney. And if New York had a Republican attorney, they would be removing the district attorney.
But the democratic and no recall improvements district attorney gets his way. And there will probably be an indictment. I don't know if it will be tomorrow or not. I don't know if they'll do a pepper strengthen Donald Trump's base. People will be so angry with them. I've got call you wills from people. look, we're oops. We were plan oops we were planning to vote for Nikki Haley. But we'll vote for Trump. Because that's the and weaponization of the law.
You know, I have a better form of protest. Buy my book. Then you don't have to vote for Trump.
But it is -- it will backfire. Now, will it backfire in New York?
Probably not. he gets his 15 minutes of fame.
Even if it's reversed on appeal. He'll say, oh, that's not my fault.
I indicted him. I convicted him. Vote for me. We're the only country, did you know this, the only country in the western hemisphere? The only country among Democrats that elect prosecutors. Elect prosecutors. And every other country, they are civil service jobs.
And they are not subject to -- for the whims of political fortunes.
But we have elected prosecutors. And prosecutors prosecute people, based on how much good it will do them in the next election. And there's something very wrong with that.
GLENN: Well, the whole system, I've said, have you tried plugging it back in to factory is that we told them to happen. It is so dirty all the way through.
So -- so, Alan, what should the -- besides biker book, what should the American people be doing right now?
ALAN: Well, we should be protesting. I don't call for people going out on the streets. But I do call for people to write to their senators and congressmen, the New York authorities, evangelizing shows like yours, which have a big impact on national opinion. And making sure that we're not silent about this. We have to speakable out. And your message is as clear as can be. Where are the civilian Libertarians? Where are the people saying, look, I'm in favor of Biden. I will vote for him.
I don't like Trump. But I don't like the way he's
SPEAKER SEVEN: That's the American way. The American way is to protest. for a redress of grievances.
That's in the First Amendment.
And we have to all take advantage of that. We do have a double standard of justice in America today.
I'm representing one of the young men on January 6th. He's a law school student. He was denied the opportunity to graduate. Even though he was a top student.
Because he went to the capital, to and then he was waved into the capital by police. We have videotape showing it.
Yet he's problematical formal a felony.
Whereas, the people who destroyed property and hurt people, in various parts of the country, following the George Floyd murder, weren't being prosecuted.
Were they do ways. sole that means no standards.
Swimmer EXPOSES ‘emotional blackmail’ within trans athlete debate
Riley Gaines, former University of Kentucky swimmer and a 12-time NCAA all-American athlete, refuses to stay quiet about transgender athletes competing in women’s sports — no matter how much backlash she may receive. She joins Glenn to detail why ‘people are scared’ to speak out, the ‘emotional blackmail’ some athletes receive when they do, and why allowing trans athlete to compete in women’s sports creates a dangerous ‘slippery slope.’ Plus, Gaines gives invaluable advice to those who may be in a similar situation she was once in, but who may be afraid to take a stand and speak the truth…