The next step toward 'Modern Monetary Theory'

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One of the cruel realities of the COVID-19 emergency spending measures so far by the Federal Reserve is that over 90% of Fed-launched stimulus programs (totaling well over $4 Trillion in asset purchases and loans, YTD) went directly into the hands of the mega-rich. 82% of CARES PPP loans went to business owners who averaged over $1 Million per year in personal income, and over 95% of Federal Reserve loans went to businesses with more than 500 employees, rather than true small mom & pop businesses.

What the Fed discovered was that the mechanisms it has in place to provide economic stimulus and rescue were inherently limited and targeted to the wealthiest corporations - those that issue stock, issue corporate bonds or debt, and those who already bank at Federal Reserve member banks. The fed launched stimulus-buying programs, but in order to have your company's stocks or bonds rescued by The Fed, you had to have publicly issued debt (Bonds) for the Fed to purchase, or you already had to have stock being traded on one of the various publicly traded US stock exchanges (NASDAQ, NYSE or Chicago Mercantile Exchange). Starting in March, and with 10% cash-backing from the US Government as part of the CARES Act, The Federal Reserve Bank issues trillions of new funds into financial markets, buying stocks (via ETFs) and Bonds directly, to the tune of nearly $4 Trillion.

So, by default, companies that were already large enough to be listed on those types of exchanges got a Fed rescue, whereas smaller businesses, like local restaurants, salons, print shops, dress-makers, etc, those that don't issue stocks or bonds, couldn't be rescued by The Fed. Of the 45 Million jobs lost from March to June, 2020, nearly 90% of those occurred at businesses that employed fewer than 500 employees.

Now, Congress is negotiating a Phase IV economic rescue plan.

What is new in the plan is language that would provide every American a "free" Bank Account at a Federal Reserve Charter-Member bank. The plan is that the US Federal Reserve would work with the IRS to identify, by Taxpayer ID or Social Security number, all Americans who had filed a tax return in the past 3 years, and automatically set up a Federal Reserve Bank account for each of them. This would give The Fed a way to get cash payments directly to each US Taxpayer (or Tax Filer), so the Fed can simply automatically deposit new funds directly into each person's account.

Note this would effectively short-circuit smaller local or regional Banks, Credit Unions, online Banks (eTrade, Ally, etc). Small business owners who had filed Taxes as a Company would also have a Small Business Administration account set up for their business at a Fed Charter bank.

Fed Charter Banks are the megabanks, like Chase Bank, Bank of America, and Wells Fargo.

And poof, just like that, we're 1 step closer to so-called Modern Monetary Theory, also known as Chartalism, where the Government can effectively print money at will (in this case "digitally" print money) and distribute it to citizens and small businesses as they see fit. It's worth noting, the one nuance here, is that The Fed is technically NOT issuing Sovereign Currency.

Remember that The US Federal Reserve is a PRIVATELY-owned banking cartel.

Modern Monetary Theory holds that a Government can never effectively go bankrupt because it can always issue new currency to cover any obligations. However, under the Federal Reserve System, adopted by the US Government in 1914, Congress turned over the right to issue legally recognized "fiat" currency in the US to a private banking cartel. Federal Reserve Notes are legal tender, but technically they are NOT Sovereign Currency, as only a government can issue that. Under the Federal Reserve system, the government would maintain quasi-control over the Banking Cartel in that the President would have the power to nominate the 12 regional Fed chairs along with the Federal Reserve Chairman, and those nominations would require approval by the US Senate. However, that is where the authority of the US Government ends. The Federal Reserve board of governors determines how much currency to issue, and how to spend it - to whom it goes. Their decisions are independent of any elected government body or officials.

Remember that The US Federal Reserve is a PRIVATELY-owned banking cartel. It has dozens of Charter Member banks divided into 12 ' geographic regions' around the US. When new banks are chartered in the US, they can do so as a Fed member bank (they join the Federal Reserve banking cartel), or they can petition to join as a Fed Charter member bank, where they actually agree to buy a certain amount of Federal Reserve stock - which is NOT publicly traded but privately owned by Fed Charter Member banks.

With the Phase IV plan now in front of us, which Trump has indicated he is likely to sign, the provision to automatically set up an individual Bank Account at a Fed member bank indicates Uncle Sam has fully committed itself to MMT and The Fed's monopoly on US Banking, started over 100 years ago, is now nearly complete. They can now issue new currency at will, and decide who would get what funds at their own discretion.

We did our homework over the weekend; we did the research so we can tell you what is likely coming from Senate Democrats regarding President Trump's Supreme Court Nominee Amy Coney Barrett. Based on our research and the anonymous people who have already come forward to talk about Coney Barrett's youth, these are the main shocking things you can expect Senate Democrats to seize on during the confirmation process…

A man has come forward under the banner of "#MenToo," to say that in second grade, Amy Coney Barrett and her best friend at the time, cornered him at a birthday party at Chuck-E-Cheese and "injected him with a full dose of cooties." Which, if true, would obviously be disqualifying for serving on the highest court in the land.

Then there's a woman who says when she was nine-years-old, she lived on the same street as Amy Coney Barrett. She alleges that Coney-Barrett borrowed her VHS tape of Herbie Goes Bananas and did not return it for at least six months. And then when she did finally get the tape back, the woman says Coney Barrett did not even bother to rewind it. The FBI has interviewed at least two witnesses so far who say the tape was indeed not rewound and that it was very upsetting to the owner of the tape. Again, if true, this is troubling – clearly not the kind of integrity you want to see in a Supreme Court justice.

Apparently, in their elementary school days, they liked to drink milk – and lots of it.

The same neighbor also dropped a bombshell allegation about the drinking problem of Amy Coney Barrett and her closest friends. Apparently, in their elementary school days, they liked to drink milk – and lots of it. The neighbor says she "frequently" witnessed Coney-Barrett and her friends chugging entire cartons of milk – often Whole Milk, sometimes Chocolate Milk, occasionally both at the same time through a funnel.

Unfortunately, shooting-up cooties, injurious rewinding, and potential calcium-abuse are not even the worst of it.

A third person has now come forward, another man, and this is just reprehensible, it's hard to even fathom. But he alleges that in fourth grade, when they were around ten-years-old, Amy Coney Barrett and a group of "four or five of her friends" gang-GRAPED him on the playground during recess. He alleges the group of friends snuck uneaten grapes out of the cafeteria and gang-GRAPED him repeatedly in broad daylight. In other words, and I hate to have to spell this out because it's kind of graphic, but the group led by ten-year-old Amy Coney Barrett pelted this poor defenseless boy with whole grapes. He recalls them "laughing the whole time" as they were gang-GRAPING him.

He recalls them "laughing the whole time" as they were gang-GRAPING him.

Obviously, even if just one of these allegations is half-true, no Senator with a conscience could possibly vote to confirm Coney Barrett. When there is a clear pattern of destructive childhood behavior, it always continues into adulthood. Because people do not change. Ever.

Fortunately, for the sake of the Republic, Democrats plan to subpoena Coney Barrett's childhood diary, to see what, if any, insights it may provide into her calcium habits, as well as her abuse of illicit cooties and the gang-GRAPING incident.

We will keep you posted on the latest, but for now, it looks like Democrats will find plenty in the reckless pre-teen life of Amy Coney Barrett to cast doubt on her nomination. And if not, they can always fall back on her deranged preference for letting babies be born.

[NOTE: The preceding was a parody written by MRA writer Nathan Nipper.]

On the radio program Friday, Glenn Beck discussed the recent news that a primary source for the Steele Dossier — the document on which much of the Trump-Russia collusion investigation was based — had been investigated by the FBI for contacts with suspected Russian spies. Glenn also shared several previously unpublished texts and emails from FBI agents have recently been released.

According to a letter sent by Attorney General William Barr to Senate Judiciary Committee Chairman Lindsey Graham (R-S.C.) on Thursday, the FBI knew early on that the research compiled by ex-British intelligence agent Christopher Steele relied on a "Primary Sub-source" that had been "the subject of an FBI counterintelligence investigation from 2009 to 2011 that assessed his or her contacts with suspected Russian intelligence officers" — but still used it to obtain warrants to spy on former Trump campaign-aide Carter Page.

But, it gets even worse. Now, new leaked texts and communications from FBI agents within the department at the time of the entire Russian collusion effort were disclosed in federal court filings on Thursday. According to the court documents, FBI agents purchased "professional liability insurance" to protect themselves in January 2017, just weeks before Donald Trump was inaugurated president, because they were concerned about the agency's potentially illegal activity during the Russia collusion investigation.

"Trump was right," one FBI employee wrote in response to then-President-elect Trump's Jan 3, 2017 tweet which read: "The 'Intelligence' briefing on so-called 'Russian hacking' was delayed until Friday, perhaps more time needed to build a case. Very strange!"

Watch the video below for more details:

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Chief researcher Jason Buttrill joined Glenn Beck on the radio program Thursday to discuss an "explosive" new report released Wednesday by Senate Republicans on Democratic presidential nominee Joe Biden's son, Hunter Biden, and the Ukrainian energy company Burisma.

Among other serious allegations, the 87-page report claims that "Hunter Biden received a $3.5 million wire transfer from Elena Baturina, the wife of the former mayor of Moscow," and the richest woman in Russia.

"The transactions discussed [in the report] are designed to illustrate the depth and extent of some questionable financial transactions. Moreover, the financial transactions illustrate serious counterintelligence and extortion concerns relating to Hunter Biden and his family," the report stated.

Jason suggested the Senate's findings provide additional evidence to back allegations of a money-laundering scheme, which Glenn detailed in a four-part series about Biden's shady connections to Ukraine. Learn more on this here.

"Laundered money is very hard to track to its finality," Jason explained. "I'm sure the Biden camp is really hoping that it just looks suspicious, but [investigators] don't ever find the eventual end point. But, if they do – and it's possible they already have – this is going to be explosive, very explosive."

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Revolutions rarely happen overnight. The Left started laying the groundwork for November 3, 2020, the moment Hillary Clinton had to concede the 2016 election to Donald Trump. It was always solely about getting rid of President Trump — and there's a playbook for that.

Last week, Glenn Beck showed you the "Seven Pillars of Color Revolution" written by a former U.S. diplomat, which are the conditions that must be in place for a successful Eastern European-style "Color Revolution." The left seems to be pushing for a Color Revolution this election because they are using the exact same playbook.

In part two of this series, Glenn peels back the layers on the first four of these Color Revolution pillars to show you how they work and what the end goal is. And he reveals one of the architects of the playbook – a Color Revolution specialist, former ambassador, and former Obama administration official who is one of the key masterminds of this revolution.

Joining Glenn is political campaign veteran and BlazeTV host Steve Deace who says the polls that claim Biden is leading the race "are trash." We're being set up to believe that if Trump wins in spite of the polls, it must be an invalid election.

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