RADIOMarch 16, 2023

Glenn: Bank collapses & inflation hint it’s time to PREPARE

What caused Venezuela to succumb to such destructive poverty? Well its inflation rate of over 900 PERCENT and its GDP decrease of 35 percent likely is to blame. Now, 85 percent of Venezuelans live in poverty. And Glenn is worried America may be heading for the same reality. In this clip, Glenn explains how today’s banking crisis — which began recently with the SVB collapse — inflation, and record-breaking spending by our federal government is sending America down a dark path. But it’s imperative we do NOT panic. Instead, Glenn says, start to prepare your family for what may come…

Transcript

Below is a rush transcript that may contain errors

GLENN: Hey, I have good news for you. Moody's -- Moody's Investor Service has now downgraded its rating of the entire US banking system. In the latest sign that what president Biden is telling you is not true. Moody's, one of the three major rating entities, downgraded its outlook for the U.S. banking system from stable to negative.

They did this yesterday, to reflect the rapid deterioration of the operating environment following deposit runs at Silicon Valley Bank, Silvergate Bank, and Signature Bank.

In addition to downgrading the entire banking system, Moody's also issued warnings for several individual banks with substantial unrealized security losses. What is an unrealized security loss?

My son is collecting cards. You know, like baseball cards. And he's like, Dad, this one is worth -- and I said, son, it is only worth it, when you sell it.

You can say it's worth anything. And it can even be marked as worth as this. But until you sell it, you don't know what it's really worth.

In the case of bonds, an unrealized loss is: I'm counting on it on my sheet here, to be worth this.

But if I have to sell it today in a panic, I'll lose 25 percent. That's an unrealized loss.

You haven't realized it yet, because you haven't had to sell it. But you, and everyone else knows, that is not worth what you say it's worth today.

That's what's happening. So they say, there is substantial unrealized security losses. With non-retail and uninsured US depositors, that still may still be more sensitive to depositor competition, or ultimate flight.

What that means is: You're not getting paid for your savings, like you could get at Chase. And Chase is seeing all of these people, that are moving over because they're offering more incentive to put your money there and save your money there and have a checking account there.

And so you're making more money over there. Plus, people are worried about their local bank now. And so they're taking their money out, and going to Chase.

I will tell you, if you are in an FDIC insured bank, don't take your money out of the bank. Don't.

What do you -- if all of these banks start to fail, the first thing that will happen are all the local banks will fail.

And they'll fail, because people panic. And they go and take their money out. It's just like It's a Wonderful Life. Mr. Potter is JP Morgan Chase.

They're offering more for your money. They'll give you money now.

Uh-huh. And what happens? Mr. Potter gets more powerful and more wealthy. Don't take your money out of the local bank. Unless it's not FDIC insured.

Once this collapse comes, and it is going to happen, your money, your dollars are going to be worth less and less.

We are headed towards Venezuela. You have to understand that. Hope you live by a zoo, because you'll get the big cat. You'll be able to make lion stew for a while.

We are headed towards a Venezuelan-style collapse. And I don't know when it happens, but it is coming.

There is no way out of this. Just don't panic. And don't pull your money out, unless it's not insured.

You will get the money, just like the people did in Silicon Valley Bank. If it's insured. However, there won't be any money, so they'll have to print the money so you'll only get a fraction of it.

This is why I've told you, please, consider gold or silver, land, anything that has value.

Now, land will have an unrealized loss. Because if you've got land, and you put all your money in land, if you need that money and sell it. You'll sell it for less than you're paying now.

But your money will become worthless. So they are warning -- Moody's is in Trust Financial, Western Alliance. What is it? Comerica, Zions, and First Republic.

European banks are taking a huge hit today. Credit Suisse looks like they may collapse.

And the Dow is down, I don't have the number right here. Last time I looked, it was down 622 points.

This is nothing to panic about. This is exactly what we told you would come.

I, again, do not think that this -- I'm always wrong. Wouldn't it be wild if I was like, this is not it. It will be, you know, a year from now. And this is it.

I'm always wrong on timing. Always wrong on timing.

But this is what it's going to look like.

Meanwhile, you have conservatives, who are on television. In the House. On radio. Everybody saying, we've got to go after Putin and have war!

Please, please, do not march for war. War powers give people all kinds of tools at their disposal.

One thing you have to do, is get on the phone, with your local -- your state, House member. Your state Senate member. And your governor.

And tell them, you must not pass the UCC legislation. I'll give you all the information on this.

But it is -- it is flying through the House and Senate. And governors are ready to sign this stuff.

It has got to be stopped. That will allow only the digital currency, coming from the central bank, to be considered money.

Once the government has this, they control your life entirely.

That is not an overstatement. You need to understand, that right now, your freedom and the freedom of your children are being decided at the highest levels.

And you are not being told the truth, because they won't trust that you won't panic.

I'm telling you the truth on what is going on. And I'm telling you, don't panic.

We make it, if you don't panic. I trust the American people. Now, in 2022, about 20 percent of the US retirement savings, disappeared. Gone.

You lost 20 percent in your retirement fund last year. This last few days, I don't know what the number is.

But you've lost a lot of your retirement savings again. Also, 1939, what portion of the United States wanted to invade Germany, because they invaded Poland? 1939.

12 percent. After December 7th, that number was 96 percent. We are on the verge of a global disastrous war. Financial collapse, very much like Venezuela, is coming.

An AI revolution is at hand, right now. And what is our government doing? Making sure that their money, their power, their wealth, with all of the wealth of their connected friends, goes up, while you and your friends get poorer.

They're going to do this by continuing to destroy our currency, through inflation. Cut one.

VOICE: I can't talk about next week or even next month, but inflation is the worst thing the economy could have, and I think that people underrate that.

If you look in history, every hegemony has been destroyed by inflation, or almost every one. I mean, just go back to Rome. That's what happens. And we have major problems, I think, in this economy right now.

GLENN: Is inflation. Okay.

Now, where is inflation coming from? Spending.

The United States government is trying to restrain your spending by raising interest rates. They're trying to get your small business to stop hiring people. Meanwhile, what are they doing?

They are spending money at a record unheard of in all of human history. This isn't just out of whack with the United States spending. This is the most any people have ever spent in all of human history.

And then they're telling you things like, there was no risk, Officer, at SVB. Did you hear that?

There was nobody that was in charge of the risk. Well, it depends on how you define risk.

I keep hearing this story over and over again. And I thought, there is -- there was a risk manager there. They just weren't looking at the same risk, that you and I would be looking at. You and I would be looking at the risk, to the bank.

To the depositors.

To all the people that have invested. But that's no longer the risk they care about.

They care about the ESG risk. That's why they can't do business with people. You can't do business with people, because their ESG score is not right. Because they're on the wrong side of an issue.

But if they're on the right side of an issue, an extraordinarily risky, financially speaking, it doesn't matter.

Their risk is not as great, as the ESG risk is. That's what happened.

They had -- they had a CRO. A chief risk officer.

They had a risk -- a risk officer at their -- at their bank in -- their -- their arm in England.

And Jay Ersapah, I think is his name.

He was -- his -- his risk. He was looking over the pro diversity initiatives.

Or is it a she? And I don't know.

I mean, it might be a him, who calls herself a -- I don't know anymore, what people are.

But they were the CRO for the Silicon Valley Bank in Europe and Africa and the Middle East.

And she organized a range of LGBTQ+ initiatives. A month-long pride campaign. A safe space for catch-ups with staff.

She moderated the Pride Town Hall, served as a panelist at the banks Global Pride Town Hall. Shared her experience as a lesbian of color.

Her LinkedIn profile indicates that she's had a very successful career, including at Citibank and Barclays and Deloitte. What risk was she managing?

The risk that is the only risk that matters, to the banks, the insurance companies.

Our -- apparently, every -- every part of our government now. And that's an ESG risk.

This is poison. Everything that you have gone through, in the last 12 years, specifically the last five years, you've known this is poison.

But people haven't been willing to stand up and say, and it is killing all of us.

It will enslave our children. People will die, because of the insanity, that is going on.

Just with oil.

Let alone, with the Pentagon. More in a second.

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And probably wouldn't last the longest either. You want to know something crazy? You still probably would be getting more nutrition out of that food, than your dog does out of the kibble you feed him. It's not good.

All of the nutrition is cooked out of kibble food, so it can have a long shelf life.

Your best friend deserves much better than that, don't you think?

I want you to try giving your dog Ruff Greens. It's a supplement, invented by naturopathic doctor Dennis Black, and you pour it on his food.

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RuffGreens.com/Beck. RuffGreens.com/Beck.

833-Glenn-33. 833-Glenn-33.

RuffGreens.com/Beck. Ten-second station ID.
(music)
Here is the latest on -- from -- sorry.

This is from Joe Biden. Cut five, please.

BIDEN: If we don't keep the temperature from going above 1.5 degrees Celsius, raised. Then we're in real, real trouble. That whole generation is damned. I mean, that's not hyperbole.

Really, truly, in trouble.

GLENN: No. Not hyperbole, to say an entire generation is damned, if we don't stop the temperature from rising.

They actually believed this, or have said it so much, for their own gain, that they now believe it.

Here's what CNN reported, yesterday. Cut four.

VOICE: Look at the fact that oil won't start flowing out of Willow for six years. And at the current rate of electrification and the price of renewables coming way down, the country is not going to need a national petroleum reserve in six years. Experts would say -- energy experts would say.

VOICE: Yep.

VOICE: And so practically, who knows how much damage it would do?

GLENN: Who knows how much damage it would do?

But let's go with the experts who have been right about, what?

Tell me what they've been right about. Can you tell me what an expert has been right about in the last five years?

Were they right about COVID? Were they right about global warming?

Because remember, as California is getting dumped on with snow in unbelievable amounts. They were the ones that told you, there would be no snow on any mountaintop in America by 2020.

So what experts has gotten anything right? And we're going to take the word of the experts, that in six years, we're not going to need petroleum.

Oh!

Well, that doesn't seem like too big of a risk. We're headed towards Venezuela. What happened with Venezuela?

Well, they have an inflation rate of 946 percent.

Their GDP went down 35 percent. Don't worry, only 85 percent of the people live in poverty.

So I wouldn't worry about it.

That's exactly what they did to Venezuela. Is what this group of dangerous clowns, are doing to us now.

It's got to stop!

Please, prepare your family for impact.

Whoopi’s outrageous question: Why Biden’s health scandal can’t be ignored

Whoopi Goldberg recently asked on “The View” why is it “important to know now” about President Biden’s cognitive and health declines while in office. Glenn Beck gives a fiery response, making the case that the American people MUST be told the truth.

Transcript

Below is a rush transcript that may contain errors

GLENN: If I suspect does Donald Trump was incompetent. Or somebody else was running things.

Or we were being lied to in any way, shape, or form. I would be on the air, today. Telling you that.

And every journalist, worth their salt.

No, every American has that responsibility!

No matter what the cost. No matter that it's going to mean that Kamala Harris is in.

Nope, sorry.

You -- I believe in the American people. More than I believe in me. And certainly, more than I do some group of people, whose whole existence is to get a politician elected.

If the truth doesn't matter on this, then neither does your vote.

And if that is true, we do not have a republic at all.

We have something else.

He doesn't know it is. But something we were never, ever meant to be.

That is why all of this matters.

I mean, here's Whoopi, yesterday, on the View.

VOICE: So should anonymous sources, who talked to Tapper and spoke up about their concerns, while he was still in office. And my other question is: Why is this important to know now?

VOICE: Yeah.

STU: Yeah!

VOICE: It's insane.

You know, we've got a lot of stuff to be concerned about, at the moment.

GLENN: Okay. Stop. Stop. Stop.

You're in the hospital. You just found out that several patients were left to die by a certain doctor, but you don't know which doctor.

You're now in the hospital with the same thing that they have. And you -- you say, could I get the name of that doctor, that -- and they say, no. That's not important.

That is about them. They are already dead. Don't worry about it.

You would get out of that hospital!

Okay?

That's the situation.

You don't know who did what! You certainly cannot be treated or healed, when you have no idea, who was hiding the death of those patients and protecting, what? An incompetent doctor. No, thank you!

No. That hospital is not for me!

GLENN: So there's a -- there's a couple of things that all tie into what we were just talking about, with -- with Whoopi Goldberg saying, what difference does it make?

Now, why do we need to know who was running the White House?

Why? I mean, it's so insane. It's honestly like saying, all right! So the bank was robbed.

They got their money back through insurance policy. Everybody is made whole. Why does this matter?

Why are we still going after these bank robbers? Are you crazy? I mean, the logic just does not work anymore. For a lot of people.

Because ends justify the means. You cannot take the position that Whoopi Goldberg is held for so long, with -- and then say, wow.

You know, we should go after those people. We should look into that. Because that's a danger to the republic. And once you say that. Then you're like, wait a minute. I've been saying that Donald Trump was a danger to the republic. I denied all of this. What did I really believe now?

What side am I really on? What -- I don't have to like Donald Trump. But I do have to recognize my errors, and most people just can't do that.

And it is really sad. But that is what makes people leader. And then also makes people either leaders for the dark side. Or they just destroy themselves. Because the truth does matter.

And if you don't reconcile that in you. There's no way you can connect into the flow of life, for those of you listening in California.

There's a couple of things on this. Here's why it matters: Is anybody above the law?

We know that's against the law. And it matters, when it's happening. And after it's happening.

Okay?

You have a couple of people. You have the New York mayor.

Was arrested. For protest and charged with trespassing. By the US attorney for the district of New Jersey.

And she also arrested McIver. Who could be against MacGyver? Not that MacGyver. Congresswoman McIver. Now, it's on tape. They're seen pushing through guards, ICE guards.

This is not -- they were part of a protest, and they used that protest to storm the gates, to get past the guards.

That's not -- that's not doing your Constitutional duty. That's not. So why are we persecuting?

Because if you want to -- if you want to assemble peacefully in protest, I'm all for you.

I can despise what you're protesting for. But I'll stand with you.

Okay? Because you have that right to do it.

But you don't have the right to whip up a mob, and storm the gates.

You don't. That's where you're -- you're -- your constitutional rights stop right at that door.

Does it matter?

Yes. If we would have put people behind bars, who were looting Macy's. And burning cities down.

And we would have concentrated on the people, who actually believed that there was a problem with the police.

And wanted a real solution, if we would have listened to those peaceful protesters. And put the other protesters behind bars, we wouldn't be sitting in this situation.

Once you ignore something, you teach bad people, or even people who are just frustrated with the system, oh, well, if they can do it. I can do it too.

I mean, as soon as we stopped enforcing the law because of BLM. What happened to crime?

Do you think crime going up all over the country is for no reason whatsoever?

No. We stopped enforcing the law. We stopped arresting people for small crimes.

You know, now you can steal up to a thousand dollars. Well, what do you think happened?

Everybody went, well, I didn't steal a thousand dollars. I will know exactly what I'm going to steal. And I will take those things, and I can walk out. No harm, no foul.

That's why you lost your CVS, in many stores -- or, in many states all across the country.

Because if you teach that, well, then, everybody will just capitalize on it. You have to teach the opposite.

Your actions matter to our society.
Now, yesterday, Jay Bhattacharya, hosted his first staff town hall meeting. Sorry, it was on Monday.

At the National Institute of Health. He's the NIH director. This is -- this is Fauci's old stomping ground. So he's holding a -- an open town hall. And he's taking questions. And he's answering questions. And there were 1200 submitted questions. He took the questions. Answered as many as he could.

It was on in public, and, you know, you could go there, and you could also watch it online.

And he said, if it's true that we sponsored research that caused the pandemic, then that's a different story. And if you look at the polls of the American people. That's what most people believe.

It is -- I'm quoting. It is possible, the pandemic was caused by research, conducted by human beings.

It is also possible that the NIH partially sponsored some of that research. Now, as soon as he said that, dozens of NIH officials got up and walked out of the room.

And his response was, it's nice to have free speech.

You're welcome, you guys. Free speech.

If it is true, that we sponsored research, that caused the pandemic, and if you look at the polls of the American people. That's what most people believe.

I've looked at the scientific evidence. And I believe it's true!

What we now have to do is make sure that we do not engage in research, that is posing any risk to human populations. They got up. Even though, the CIA, everybody.

Everybody is now coming to the conclusion, this was cooked up in the lab. Okay?

EcoHealth looks like it was involved.

EcoHealth was a recipient of cash from the NIH.

We know that Fauci covered things up, and was in bed with EcoHealth.

We know all of that stuff, right?

We know it! Is it -- do we have absolute truth?

No. But we have -- we have -- beyond -- I believe, beyond reasonable doubt.

Okay. But still, let's pursue that.

Let's find out.

I predict that you will start seeing arrests, on COVID.

You're going to start seeing arrests of people that covered up. That is essential.

Why?

Because you just hate science?

Why?

Because you're just for Donald Trump, and anybody who was against Donald Trump should go to jail?

No!

Listen to what he said. If it's true, we sponsored research that caused the pandemic. And I've looked at the scientific evidence, and I believe it is.

Notice he said, I believe. He didn't say, it is.

He said, I believe it is.

If it's true, what we have to do is make sure that we do not engage in research that's posing any risk to human populations.

That's why it matters! That's why this matters!

Because if you don't admit it, if you don't track down, how did this happen? You cannot prevent it from happening again. You can't save the republic by ignoring that the president wasn't in control of his faculties, or the government!

You can't ignore that, and save the republic!

You can't ignore the truth, that the NIH, most likely, but you don't move until you know, that they were involved in a cover-up, because they were funding things they weren't supposed to be funding.

But Fauci was so arrogant, that he thought it was okay for him to do.

You can't predict -- you can't prevent the next pandemic, if you don't fix what was -- was causing this pandemic. That's why it matters, Whoopi.

They're going after Andrew Cuomo now, over the nursing home deaths. Okay?

DOJ is opening up an investigation on that. Whether he goes to jail or not, Stu. I know he has an opinion on this.

Weather he goes to jail or not. Whether he's guilty of it, or not.

Has to be proven in a court of law. I have seen the evidence. We've talked about it before. To me, it looks very -- it looks beyond a reasonable doubt, to me.

But this is in the court of law.

It needs to be investigated. It needs to be tried, in open and fair court. And if he's guilty, he needs to go to jail. Why?

Why would you do that? Because you hate the Cuomos?

No, because I love people more!

And I don't people to be able to be killed in a nursing home, because they're expendable. They're old. It doesn't matter anyway.

I don't want that happening!

And you can't solve that, unless you put the people behind bars that encouraged that! Because they'll just do it again. And if they don't, somebody else will do it.

This is why yesterday Trump just unloaded.

On the New Jersey Democrat charged with, you know, storming the gates at ICE.

Give me a break. Did you see her? She was out of control, he said. Out of control.

She assaulted a federal agent outside a New Jersey ICE facility. The days of that crap are over. In this country.

We are going to have law and order.

That's all I want. I don't want vengeance.

I don't want anything done in anger.

I want the system to work. I want law, for all people, to be equal. And I want order. We do it the right way.

That's why he was asking for.

Why does it matter? Because you can't -- you can't have it, if you don't enforce it now.

This, by the way, is the reason why his approval ratings are surging. Did you see he's up again in the polls?

All of these things are connected.

All of our problems, I would say, I shouldn't say all of our problems.

Most of our problems are caused in our country, politically. Because we no longer care about the Constitution.

We don't even know what it is.

And I'm not talking about the politicians. They give lip service to that. They don't know it.

They don't care. It never comes up in conversation. I know. I've talked to senators.

I've talked to representatives, on both sides of the aisle.

They never talk about the Constitution when they're putting anything together. They don't care!

Okay? They think they know better.

Rules are different now.

But they're not. So there's two reasons, why we're in the situation, we're in. One, three.

One, nobody notices the Constitution. Nobody is following it.

Two, nobody is listening to the sage advice of three presidents.

One, George Washington.

What was his farewell address about?

Don't get involved in these parties. These parties will kill you. They will figure it out. Don't overspend. Don't get involved in everybody else's affairs overseas. Be a friend to everybody. Now, if they attack you. We have to be strong.

But we're not involved in anybody else's business. Stay out of that business. Don't run up debt.

Well, they're -- all you have to do is listen to that guy. That one. Then we don't listen to Eisenhower, who said, okay. We have to do things now, to have a strong defense. So we will have a standing army now.

And because defense is now about nuclear weapons, we are going to have to have science, which means we will have to have education.

And so the money to education, to universities, to science. And to the military, has to be guarded by the American people.

Because the universities will train everybody to give what the government wants.

They won't be pursuing science anymore for science.

They will give it, what the government wants. So you will get the answers, the government wants.

Science will do the same thing. And the military will also start to promote foreign wars and wars of all kind. Because they want to sell weapons.
Warning. Do we listen to him?

No. No. Educational, scientific, and defense. All of them.

Sold out. And we don't really have any control. And the -- the last one, is Ronald Reagan.

Who said, within this generation. If we don't teach now, this is 1988. If we don't teach them now, the next generation will not be able to defend this country. Because they won't know our history. History is being lost.

It must be restored in schools and in our homes.

If we would have just listened to those three, and known the Constitution. We would not be any of these situations we are in now.

What do you say?

Let's listen to those three guys. Repair that. And learn the Constitution. That's what you can do as a citizen.

This tax could WIPE OUT your wealth before you know it

An insane leftist policy that has DESTROYED nations could be coming to YOUR state, Glenn Beck warns. Glenn dives into how unrealized gains taxes work and why they’re devastating. Australia is now installing them. Will a state like California be next?

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. I want to tell you a story here: And it's not just a story. It is actually now happening. In Australia. And it could be coming to a state and a government near you, soon. So let me tell you a story. Let's just call him David. David is not a billionaire. He doesn't have a private jet. He doesn't sip rare wine, you know, or hedge currencies in the caymans, okay?

He's a builder. Literally. He bought some land, let's say, 25 years ago on the edge of town.

No one had ever heard of this town, let alone this area. He poured some concrete. He raised walls. He rented the space to small businesses. And over time, that dusty little outskirt, became a thriving community. He kept the land.

The equity grew.

But he never sold anything.

He just reinvested. He repaired. He paid property taxes. Maybe he developed houses on some of that land. He hired help. Well, today on paper, tasted is worth now $3 million. In real estate assets alone. Okay?

Is that guy a fat cat that's calling the shots that needs to pay their fair share? Or have they already paid their fair share. Because they're just like you. They started with had to go. They worked hard. They invested.

And now they have assets. It's not expendable.

But he's worth $300 million in real estate. Okay. Now, let me tell you the part of the story that goes a little dark. It's called unrealized gains tax. That paper value becomes a real rob.

Because the state now wants to tax him. Not on the money he's made.

They've already done that. But on the theoretical increase in the value of his properties.

Now, he hasn't sold them. He doesn't want to sell them.

But they're going to tax him. Because he's made a profit. But he hasn't. Because he hasn't sold them. It's all on paper, but he has to pay taxes on that profit that is unrealized, he doesn't have. And if his property values plummet the next day, they don't give him the money back.

He just doesn't have to pay any more taxes, because the value has gone down, so he doesn't have to worry about that.

This is not a hypothetical. This is what is happening in Australia right now. A 15 percent tax on unrealized capital gains, for accounts, exceeding $3 million. Okay.

Is there anybody in this audience, that has put money into Bitcoin? And you put maybe a thousand dollars into it, because you're not rich. You put a thousand dollars into it. You put $5,000 into it.
But you really, I mean, it was scary to put that money in.

And you left it alone.

And now, maybe you're approaching $3 million. Now, they're going to tax you when they take that money out, but this is in addition to that! They are going to tax you on the gains!

Not when you take it out. They're going to take you on the gains, that you haven't taken. So if it goes up to 109. And now, all of a sudden, you're in Australia. And that account is now worth $3 million. Guess what!

You now have to pay income tax on that account. So you have to -- what would you do?

What would you do? You just go to your magic money printing machine, that the government would do.

Or do you have to sell something? Maybe the property. Maybe some of the Bitcoin.

And then you never get that money back. If it goes back down, which it will -- if it goes back down, they won't pay you.

Wait a minute, I paid it -- $109,000, and now it's worth 80. Do I get any of my money back? Because I just lost money? No. Uh-uh. No.

Imagine those who lived in California. Who maybe their parents bought a house. And it was $5,000 in 1960.

They still have the house. They can barely afford the taxes on it now, to keep it.

Because it might be worth $3 million, it might be worth $5 million. But it was $5,000 when her parents bought it. And they haven't gone up in their status. They're not hobnobbing it with Bill Gates. They're just regular people, who happened to get on a house from their parents. And they did well with it.

And it's the only asset they really have. But it's worth over $3 million.

Now, how will they pay that tax?
Because now, if it's $4 million.

I got to pay taxes on that. I have to pay 15 percent on that million dollars. Excuse me? I don't have that money! Well, all you have to do is sell your house. Now, let's just follow this logic here.

Consider who wins. Now, who is going to have to really pay this tax?

Is it going to be the ultra wealthy, with the teams of tax attorneys and offshore accounts?

Because they have the means to navigate around the taxes. No, no, no, no. This is going to hit the self-made man.

That's who this is going to hit. The self-made individual. The entrepreneur. The farmer. The small business owner.

They have built their wealth through hard work and prudent investment.

They have -- they have value in that land, that maybe their grandparents bought, and were farmers before them.

And they decided, you know what, I will stay in farming.

And they struggle every day. But now their land is worth over $3 million can. So now they have to pay 15 percent tax on that. In addition. Wait a minute. Wait a minute. Wait a minute. What? And it's assessed every year?

What? So who sells that?

Or who keeps that? What do they do. They have to sell it. Most likely. The average person. Or the entrepreneur. The person that is not the billionaire.

They will have to sell some of those assets, to be able to afford keeping it. To afford just staying in line. And, you know, not going to jail, because you didn't pay your taxes, to the sheriff of Nottingham.

So now you have to sell, and you have to sell at a distressed price.

Who wins?

Who wins?

Because you're forced to sell at a loss, to cover the tax bill. Guess who is standing there, ready to rake in your property?

The billionaires?

The large corporations?

The Bill Gates of the world, that wants more farmland. Hey, it's going for a song.

I can get this now!

That's who wins in this.

It destroys anybody from trying to get ahead!

It destroys them!

It is immoral.

But that's what's happening in Australia. So watch Australia burn itself to the ground!

It's going to start happening. This thing goes into effect, I think in July.

You watch.

Let's see how this works out for Australia.

Now, meanwhile, we have our own problems here. In Washington State, the Democrats who claimed they were all for adding jobs and clean energy.

Have now blocked a nuclear manufacturing plant.

Okay. Good.

If, you know, you work, you strike, it doesn't matter.

Employees now are required to pay union members not to work, if they're on strike.

And governor Ferguson signed the largest tax increase into state law with the passage of the biannual budget. Which he said, we can't -- we can't afford this.

We have to make cuts. We have to compromise. No. He just went for taxes. I mean, the election is over. Let's just go for taxes.

So what happened?

Well, they are already ranked 45 out of 50 states for business climate.

I mean, would you go work?

Would you go set up a new place in Washington State?

Would you start a business? Would you bring your business to Washington State? I wouldn't. I would get the hell out of there. In fact, I'm telling you right now, if you're in Washington State, get the hell out.

Because once they run out of all of this money that they're taxing from people, what they're going to do is say, oh, you're moving? You can't transfer that money out. You will have to pay an exit tax. And that sounds crazy. But it's going to happen. They will trap you and your money in that state.

Because they're already on that path. They already said, if there's another pandemic, they just passed a law in Washington State that says, you will have no right to your own health care. They will tell you what you have to put in your body, what you have to do. How you have to live. All they need is a medical emergency. Don't think they learned anything from COVID, other than how to control people.

So they are -- they just passed House bill 2081. It increases the Business & Occupation. The B&O tax.

This is a tax that taxes you on the gross. Okay? Which is crazy. If you're in business. You don't get that money. I'm being tax odd the gross. Wait a minute. Wait a minute.

I've got things I've got to pay out of that. Tax me on what I take. No, no, no, no. Not good enough for Washington State. We will tax you on the gross.

So if you've got a business, even if your business makes a loss, because you've got bills you're paying, and it's costing you more, you're taxed on what you take in.

Not your net. So even if you lose money, you still have to pay a gross income tax.

Oh, that will work out well.

And the state has just said, it will just be passed on to the consumer. Oh, well, that's even better for the people in Washington!

They also have a new gross surcharge of .5 percent on taxpayers, with the taxable income, over 250 million, which will expire on December 31st, 2029.

Because they're just in this little place now. Don't worry. This -- all these taxes. They're going to stay like this. They're not going to get any worse.

And they will expire anyway. So don't worry about it.

Then they put a massive sales tax expansion on, adding sales tax for the first time for IT services, custom website development, custom software. Security services.

Advertising services. Now need to charge customers, sales tax on every transaction. They also vetoed the removal. The governor did, of the tax preferences for community banks. Let's not help the community panic. No. Let's -- let's help the Fed, and the banks that make up the Fed. You know, the big ones like Citi and all of those banks.

Let's help them put the little banks out.

Okay. Then there's a new gross tax on storage units of almost 2 percent. Let's see. What else?

They increased the capital gains on assets sold. Valued over a million dollars. From seven to 9 percent.

So you don't want to sell your home, better do it quickly. Larger estates, if you have something, $9 million, or up the tax rate now is going from 20 percent to 35 percent capital gains.

What has Washington done for you?

What has the state of Washington done that deserves that increase alone? I'm not talking about your property taxes.

Your state income taxes. But now they're going to take 35 percent of what you've made on your home.

Oh, okay.

Okay. Hmm. It's going to work out well for them.

Meanwhile, California, the Democrats there won't rule out new taxes to pay for health care, for undocumented immigrants.

What are you, crazy. Yes. The answer is yes.

Why do you think gold is going up in price? Why do you think Bitcoin is going up in price?

Why do you think that anything that is outside of this corrupt system is going up in price?

Because the whole world knows, this is not going to last. Now, let me take to you China. And show you what's happening in China, because they're having another problem in China, because they've been doing all these games for longer than we have.

And at which bigger scale. And it's not working there. So let me tell you what the people of China are now doing. Tell me this is not something that you could see happening all around the world.

GLENN: Okay. There's something new in China called rat people. Is it the hybrid of rats and people from the Wuhan lab?

Possibly, that could be coming too. But that is not what this is. These are people who have decided to leave the rat race. Because no matter how they work, they can't ever get ahead. And so they're saying, why would I work?

Why would I work?

They're called netizens. Rat people.

Netizens. Meaning, you're on the net. You're not really citizens. You're more just on the net. And so what are they doing? They're not socializing. They're not leaving their house. They're staying in their house.

Let me give you a blogger, who identifies as a rat person. She starts by explaining, she wakes up at 11:00 a.m. Pretends to be productive by ordering coffee and browsing her phone. Remember, China is watching your phone. At 2:00 p.m. she goes back to sleep. By 5:00 p.m. she gets up, uses the bathroom, collects the coffee delivery left on her doorstep. 6:00 p.m. she has her coffee while watching videos on her phone. 7:00 p.m. she checks her dinner options on her phone and orders takeout. 9:00 p.m. she has her first meal of the day.

One guy said, I have been a -- a rat man now, for five years. I don't socialize at all.

Hmm. This might be exactly what the World Economic Forum said would come. And they would have to, just keep these people entertained on the internet or drug them, because they will be useless eaters. Ah, that's always good. So what is happening? These are people, that basic Gen X-ers. That are like, you can't get ahead.

This is ridiculous! And so they've given up. They think, I don't want to work hard. Because it won't make any difference.

I'm getting out of the rat race. And rat people, the -- the act -- official Chinese language is that they're lying flat. And they say, they're just -- they're not going to do it. Because they can't buy. They can't buy a house.

They can't buy anything nice.

They can't buy anything.

Just, I'm giving up on all of that.

Because my life will always change. Now, China is pushing back on this. As you can imagine, the Chinese Communist Party doesn't like that, because you have a duty to the state to earn. You want to talk about useless eaters. Boy, watch what happens to these rat people. Youth day, which was May 4th. Oh, like May Day. Anyway, there was an article in the Communist Chinese people's daily.

And the -- president, President Xi told young adults, that they have to move to the countryside now, to work and support the party's version of modernization.

So you're going to move whether you like it or not.

And you'll be working. Whether you like it or not. And, you know, you owe it to the country, and to the party, to work.

So we'll make sure that you work.

Now, one person who spoke to the paper, here in America. That, you know, it's The Epic Times, that did not want to give their name. They said a whole generation of young people is babbling for limited opportunities.

Despite the fierce competition, hope is dwindling. That's why everybody chooses now to lie flat, become a rat person. Official data shows, unemployment rate for the 16 to 24-year-old age group in cities is 16.5 percent. But that doesn't include individuals who are enrolled in school, or who have stopped looking for work.

Now, listen to this part: Graduates are now securing positions within the local or state government and any public sector. Jobs are popular there, now, because they have security.

And they earned about $553 a month.

The government grows, as businesses die!

Did These Republicans Just Doom Trump’s Big Beautiful Bill?

Glenn Beck has had ENOUGH of Republicans in Congress who can’t seem to find enough spending to cut. Glenn and Stu break down every Republican faction that’s opposing Trump’s “Big, Beautiful Bill.” Some want more spending. Others want to cut, cut, cut! But it’s time for Congress to come together and DO THE RIGHT THING!

Transcript

Below is a rush transcript that may contain errors

GLENN: So now, Stu.

Bring me up-to-date, on what is happening today. This morning. In Washington.

STU: Yes. This is your chance.

GLENN: With the big, beautiful bill.

STU: Your chance to play Mike Johnson here, Glenn. For a moment.

See if you can solve these problems. Because I will say, the criticisms are just.

But also, it's pretty hard to solve.

So the current House count is 220, to 213. That means, you can lies four Republicans. From your vote. That would bring -- you would be underwater, if you would lose four.

So that's all you can do stop there are four different the groups, that are holding up the bill, right now.

GLENN: Okay.

STU: We start with SALT. The SALT deduction people. Okay? This is theoretically the easiest one to solve. There's six of them. Six people in that group. The SALT deduction, if you don't know, is if you're in, like, one of these high-tax blue states, you have a chance to deduct the money that you're paying to the state government in in state taxes, out of your federal tax bill. Basically, it's an extra deduction for those states.

You know, of course, Republicans are like, well, wait a minute. We're just incentivizing blue states to raise taxes, because you get to create this tee deduction.

Of course, if you live in this state, you're paying federal taxes on money that you didn't even get. You had to just give to the state government.

So you don't understand why blue states might have a problem with it.

So these are generally speaking, Republicans in states like California and New York.

They want to get that deduction raised. Right now, it's at a 10,000-dollar limit for your SALT deduction.

They want to get it to 30, reported this morning, maybe up to $40,000.

So that's the fight there.

Now, the ways you can get rid of that problem is you can either try strong arm them, and have Donald Trump come in and kind of yell at them. And say, hey, what the hell are you guys doing?

And try to get them to just give up on that deduction.

I will say, they all ran on trying to get that deduction back.

So it's a difficult thing for them to do. But you can kind of just strong arm them. There's only six. So you just get a couple of them. You might be okay there. The other thing you can do is give in to their claims. Right? You can just raise that deduction. That will make the deficit a little worse.

But that is what they're offering right now, is to just raise this deduction to as high as $40,000 from where it is now, to $10,000.

Okay. That's step number one. The next group is the group that probably most people in the audience. And you, would fall into, Glenn.

Which are deficit hawks. Okay? People who are saying, wait a minute. This bill sucks. You guys didn't go far enough cutting spending.

GLENN: Chip Roy.

STU: Chip Roy is in this group, exactly. He's probably the main example of it.

But there's 31 in this group.

So think of what that means with the SALT deduction group, we just talked about. You can't give them this extra deduction, because there's already 31 people in this much larger group who are saying, wait a minute, you already didn't do enough on the deficit. You can't give more. So you have those people.

Now, how do you solve that group?

Of course, that group, you would go and you would say, okay. We will cut more.

Right? We will make sure that more of these programs will go away. We will go after these programs and cut even more.

So you will want to please that group, you might get those 31. But you probably lose the six from the SALT group. Okay?

GLENN: So far, I can compromise enough to get all of them.

STU: Okay. That's good.

GLENN: But I know we're not done with the groups.

STU: Right. Do you want to go through how you would do that between those two groups, or do you want to wait until the end?

GLENN: Yeah. Just real quick, I'll say, I'll give you a partial bid of what you want. I might give you 15,000, instead of, you know, ten.

We're going to come up a little bit, but you have to understand where the country is.

But I want you to join these guys in demanding cuts, across-the-board. Green new deal. Gone. Gone.

STU: Hmm. Okay.

GLENN: Back to 2018 spending.

That's what we should all be standing for.

Okay. All right. Introduce the next one.

STU: The next one. You just mentioned the Green New Deal.

Well, guess what, there's a group of Republicans who are trying to protect some of the Green New Deal/Inflation Reduction Act. The group size there is 14.

And the reason why, you're saying, why would Republicans be defending Joe Biden's terrible bill?

And they're not defending all of it. But they are defending parts of it.

GLENN: No. They're defending the parts that come into their districts. That's what's happening.

STU: Exactly right. Exactly right.

GLENN: And those are the ones -- those would be the ones that I, as president, would use the bully pulpit and say, America, let them know enough is enough. This is bad for America.

Might be good for them. But it's bad policy. It was a bad bill.

And we can't afford it!

STU: So that is the -- the balancing act with that group.

For example, there's a lucid. One of the car companies.

The electric car companies.

They had a big -- they were going to get a benefit out of the Inflation Reduction Act. They expanded their factory in Arizona. The Congressman for that area is like, hey, we've had a bunch of new jobs.

You know, this is a company that is trying to grow the economy in my community. And now we will change the law. That's unfair to them, and unfair to the people who got hired.

GLENN: Yeah, it was a giant -- it was a giant mistake, made by the last administration, we're not going to continue --

STU: Uh-huh. Yeah. Uh-huh.

And that's understandable. Like you don't want to continue that. Right. It's got to stop.

GLENN: Stop.

STU: Again, I'm totally with you on this stuff. I'm just trying to explain how the dynamics are. The last group are the group --

GLENN: Right. I know. I know.

STU: That made the difference, when it came to the election in 2024. The reasons why Republicans have the House majority right now are because they won a bunch of moderate districts in New York.

And California.

So there's 12 in this group. And those are the ones that say, actually we don't want what they call cuts to Medicaid.

They don't want to reduce the spending. We're in these moderate districts, and we're on the borderline. And if we do these things, we're going to lose these seats, and we're not going to be in the majority anymore. Obviously, 2022, a major concern here. You've got 12 of them there. Now, of course, these are people in direct opposition to the deficit hawks, we talked about earlier.

GLENN: I personally would go all George Washington on those guys.

What an FBI source told me about Epstein's death

An FBI source reached out to Glenn Beck about Director Kash Patel and Deputy Director Dan Bongino’s statement that Jeffrey Epstein DID kill himself. Glenn reveals what he can about the conversation, including whether the FBI plans to release any evidence to back up Director Patel’s statement and quell conspiracy theories.

Transcript

Below is a rush transcript that may contain errors

GLENN: I am kind of in a really bad -- we'll do it live kind of mood today! So you never know what might happen.

STU: Uh-oh.

GLENN: Let me start with. I got off the phone with a very well-placed source, in the FBI.

Very well-placed source.

One that has access and knows.

Would you agree with that, subscription, Stu?

STU: I would, yes.

GLENN: Yeah. Okay.

And I said, well, first of all, it started with the Mediaite article, which I'll get into here in a second.

And -- and -- and I said, I just would like to know, what Dan saw that changed his mind. Because I know Dan Bongino. I know Kash Patel. I like both of those guys.

I trust both of those guys.

I do not trust the government. I don't trust the FBI.

I don't trust the DOJ. I don't trust the treasury. I don't trust the fed.

I don't trust the milkman at this point.
So I think most of America is like that. My point yesterday was to make sure that we all understand that the lack of trust in our government, is very, very dangerous. And none of us should be doing you anything, to enhance that lack of trust!

Now, how do you repair it? Well, not by ignoring it. Not by just saying, don't talk about it.

You have to address it, head-on. So I trust Kash Patel, and I trust Dan Bongino. And I have said on this program, I am going to give them a year, before I say anything.

And including Pam Bondi. I'm not going to sit here and condemn them for what I don't know, what is happening. I know they're both, or all three of them, are surrounded by sharks.

Okay? I know that the corruption is very deep, in the FBI and the DOJ.

So if I'm not seeing some arrests in the next year, a year from now, I will be coming on, and I will be saying things. And Dan Bongino and Kash Patel would be the first to say, you should be!

But the point I was making yesterday is, I gave you the seven phases of a republic or an empire. And all empires in history have fallen.

And the last two things -- only two things that remain in this -- you know, 3,000-year epic story of the rise and fall of multiple empires.

When you look at all of them, there are only two things left, before we fall. And that is a complete lack of trust. In everything.

And a collapse of the dollar.

That's like -- that's it!

After that, we're done. And so yesterday, I said, I don't believe -- I mean, I don't know what to believe.

But I don't believe that Epstein killed himself.

Now, that is my belief, as I said to you, yesterday.

We cannot operate just on belief.

We need facts. And my -- in my monologue yesterday, I was saying, what kind of facts would you need to believe?

For some people, Kash Patel and Dan Bongino, coming out and saying that is enough!

I told you yesterday, Stu. Remember when we played the video of Dan Bongino saying, I've seen the evidence. He didn't kill himself.

Remember? What I said right after that?

STU: Yes.

GLENN: He's telling the truth. You have that video. Go ahead. Play the video.

VOICE: You said Jeffrey Epstein committed suicide for him people don't believe it.

VOICE: Well, I mean, listen, they have a right to their opinion. But as someone who has worked as a public defender, as a prosecutor, who has been in that prison system, who has been in metropolitan detention center. Who has been in segregated housing. You know a suicide when you see one. And that's what that was.

VOICE: They tell themselves. Again, I've seen the whole file. He killed himself.

GLENN: Okay. I believe him. I believe him.

That's not good enough for America, however. Now, I've also said on this program, do you want to feel good, or do you want people to go to jail?

I want people to go to jail. That's why I said, with Pam Bondi, went on day number two, after that debacle of the release of the file.

I said, look, perhaps this is because they are still gathering evidence.

They want to put people in jail. Yada, yada. I don't know why they withheld that evidence.

But to believe that Pam Bondi. Because I asked the president on this.

To -- to believe that Pam Bondi has sold out. And then Kash Patel and Dan Bongino all sold out, means that you must then believe that Donald Trump knows it and is part of it!

That's the problem. Who is left to believe?

Now, I want to see the evidence, because the country must see the evidence.

You don't fix -- you don't fix things. And they know this!

You don't fix things by saying, you know what, trust me!

Dan Bongino, you've heard him for years. He's never said that to me. I never heard him say that on the air. Trust me!

That's not the way he is. He is very much like me: Don't trust me! I don't ask for your trust. I don't want your trust. I don't ask for your trust. Don't trust anyone in my position.

You can trust that we have the best intentions.

But don't anything I say as gospel truth. Because it's not.

It's my opinion. It's the understanding of what's about to go, to the best of my ability. You can trust my intentions.

But don't trust what I say!

Do your own homework.

The only way truth is sustainable, is if it's your truth!

Anybody who -- if you're a Christian, you know this.

You have a testimony. You can't feast on somebody else's testimony. I can't sit here or fix the country or feast on the testimony of Donald Trump. Of Kash Patel. Of Pam --

STU: And we've lost Glenn here. Pam Bondi here, he was talking about as well. As a real problem. Glenn, I think you might be back with us here. Sorry about that little drop. Yeah, you're saying, lease everybody your trust.

GLENN: Correct. Correct. And people that you should trust, tell you, don't trust me!

Do your own homework. It has to be yours.

So the thing that we are waiting for, that has to happen. Is the release of information.

And that will come.

And if it doesn't, well, then, you have a problem.

But it will come!

I talked to this source yesterday.

Now, I have read stories that disagree with this.

Just yesterday, I think NPR, a very reliable source. As reliable as Mediaite.

A very reliable source. Says that there is no tape of the hallway in front of the prison cell.

I talked to a well placed source yesterday, at the FBI, that told me. Yeah. That tape does exist.

And I saw it.

And I saw the last person to go in the cell, when he was alive.

And the first person to go back in the cell, after he was dead.

And I said, so there was no foul play?

He said, no. Wait. Wait. Wait.

I want to separate two things. One, did someone go in the cell, and kill him?

Did somebody kill him?

The answer, because of the of the video evidence, that they say they saw, and I believe this source.

They said, the -- the video evidence shows no one went into that cell. No one.

Okay. But it doesn't show the cell. It doesn't show what happened. That's the first thing.

Now, the second thing. So are you saying, there was no -- I mean, all of this was a coincidence?

No, no, no, no. I'm not saying that. I am not saying that there wasn't a desire to set him up. There might have been a desire to have somebody go in and kill him.

There -- there -- it's a long string of things that happened, that don't make any sense.

Was there a conspiracy -- conspiracy to kill him?

I don't know. But probably!

A lot of people needed him dead. But did he kill himself, or was he murdered by those people?

The answer is, he killed himself.

Now, that doesn't mean, that you don't create the conditions, that make you want to kill yourself.

And I don't mean just sending you to prison.

Yesterday, I spent all morning, and I am so frustrated because the Republican is at stake. You know that, and I know that.

I try to do my best, to not -- Stu and I talked about this yesterday.

You know, neither one of us, are the type to go in.

I mean, if something happened at a store or something.

Got it wrong. And we're just. And it's going to be a fight. Both Stu and I are like, just leave it alone. I don't care.

Because we don't like conflict in our life. And yet, this is what we do for a living.

This is not what we wanted to do. We started doing this show, because we were making fun of talk radio.

And then it got serious after 9/11.

And we found ourselves doing it. We don't like conflict.

You hate -- I'm from an alcoholic family. I was the one that tried to make everybody laugh, so we didn't -- didn't see mom. Or dad falling down the stairs, or whatever was happening.

I don't like conflict!

But I find myself in a situation, where the truth does cause conflict.

And you must discipline yourself, to search for the truth, the whole truth, and nothing, but the truth.

We cannot live in sound bites.

We must understand the depth of what is going on.

Because as I'm going to tell you here in a few minutes.

There is a new concerted effort to bring our streets into chaos.

Bring our country into chaos.

The left -- the -- I shouldn't say this.

The Democrats are completely dead.

It is run now by the uber, dangerous left.

That's who is calling the shots.

And that -- they are going to -- well, I'll use their own words.

Do everything that they've done in the past, and take it to the next rung on the ladder.

That's a quote! You want to save your republic? We cannot dismiss the people that we have grown to trust. That we have put our faith in. We need to give them time. And let them show us the evidence! I want to see some arrests on a few things. I want to see the -- the progress being made.