RADIO

Banning Russian AND American oil may push us OVER THE EDGE

President Biden’s decision to ban Russian oil imports in response to Putin's invasion of Ukraine makes sense ONLY IF the administration agrees to re-open American oil drilling at the same time (which seems highly unlikely). Otherwise, Glenn explains, this decision could hasten our nation’s decline. Americans already are on the edge with sky-high gas prices that now are likely to get worse. AND those prices will affect FAR MORE than travel. But, Glenn theorizes, Biden and his cronies truly don’t care: ‘They DESPISE the United States of America.’

Transcript

Below is a rush transcript that may contain errors

GLENN: Okay. So we just have a -- a slide here, in front of one of our monitors, that says, we'll begin shortly.

STU: Oh. The drama of a Joe Biden speech.

GLENN: Yeah. It will be good.

STU: Will he be awake for it. Will he see a squirrel that no one else sees run by and distract him? Will he get through a sentence?

GLENN: Will he call Ukrainians, Iranians? We don't know. But he will announce something very, very big and important. Very big.

STU: Very big. This is something that has been demanded by both the left and the right, I would say. This idea of --

GLENN: And I'm -- I'm for it. At the same time, I'm against it. I'm for it, if we do one thing first. And that's open up our own old fields.

Supply our own oil. The energy independence, which we could do overnight.

STU: Right.

And I -- like having a two-parter here, is not a crazy thing to ask for.

GLENN: No.

STU: Like if you were to say, you know what, I'll get rid of all the junk food in the house.

I don't want anymore. I'll get rid of all the food in the house.

Then you don't replace it with food. Not exactly a good change. Not a healthy choice.

GLENN: Not a good idea.

STU: Right. So what you want to do is maybe replace it with healthier food. And that would be a good improvement.

Just throwing all the food out in your house, not a good idea. That seems to be the path we're on.

GLENN: Yeah. Yeah. And what are Republicans going to do, when the price of a tank of a gas, is what a price of a tank of gas is going to cost here in the next few days. And probably for a very long time.

What are they going to say, when they were the ones pushing for this -- this oil shutoff, with Russia? Without articulating part two.

Actually, it should be part one.

STU: Well --

GLENN: He should say today, this is what the president should come out and say. Look, we all know, we're watching the video from Ukraine. And it's really bad. It's really bad.

And so we're sitting here, between a rock and a hard place.

Especially me. And I think people would actually respect him for this. Especially me. Because as you know, I believe global warming is an existential threat, to the safety of everyone, and the entire world.

And I have taken massive steps, to shut down, the fossil fuel industry.

And we cannot go back on that.

However, this is a short-term problem.

But this short-term problem, is going to cost the American people, too high of a price. So I'm sitting here. And I look at three options.

Do nothing. Continue to fund the war, with Russia. While they're slaughtering people in Ukraine.

That's not acceptable to me.

Cut us off of Russian oil. And make the price of gas, groceries, everything, go sky-high.

That's not acceptable to me. I have to find a way to balance both. And the only way to do it is to reverse all the things that I have done, take the regulations off the oil industry, temporarily.

Understand this is a temporary movement. Because I believe that global warming is going to be the death of all of us.

So I'm removing those restrictions, today.

I am removing anything that hinders the oil industry, from getting oil and gas to the American people.

And, quite honestly, to Europe.

Because if I can promise them gas, they will shut off the gas and oil from Russia. And then we win.

So temporarily, that's what I'm going to do. I would be for that. I would say, there's presidential action. There's presidential action.

STU: Yeah. To give you an illustration of how this is done. Elon Musk yesterday, now, I hate to say it. But we need to increase oil and gas output immediately. Extraordinary times demand extraordinary measures.

Obviously this would negatively affect Tesla. But sustainable energy solutions simply cannot react instantaneously to make up for Russian oil and gas exports.

Now, here is a guy, who is, again, building spaceships shutdowns an electric car company. He really cares about global warming. But he's also being honest and realistic. And not -- and not -- and not wanting to punish the American people, because of his long-term ideology and beliefs.

And that's the opposite of what Joe Biden seems to want to do.

GLENN: See, the global warming thing is a lie. To think that Joe Biden and his people are making this decision based on global warming, is a lie. It's a lie.

Because if you did -- if you did, you wouldn't be buying the dirty oil, from Russia. You wouldn't be buying it from Iran.

It is clearly much better to have it pulled from here, than it is to have it pulled over there.

STU: It's true.

GLENN: It's much better for the environment.

STU: I think what their argument to that would be, if we lock it in here, then we are going to be taking steps in the wrong direction.

Where if we take a temporary purchase from Iran, or Venezuela. It's just a Band-Aid on this issue. We don't want -- they don't want to solve the issue.

GLENN: Right. Correct.

STU: They want to make it difficult for you to buy gas.

GLENN: Correct.

STU: In the long-term.

GLENN: But they also -- if you truly represented people. And you saw -- look, we see the suffering of the Ukrainian people. Do you know, Americans are on the edge right now.

They're on the edge.

Average Americans can't afford this kind of gasoline. So they're having to make tough choices. What do they do?

Well, if you see the suffering in Ukraine, you also have 350 million people, here in America.

You could cause all kinds of problems, including food shortages next year. Because we can't get natural gas to make fertilizer. Where are all the electric trackers?

Do we have a bunch of electric trackers? Anybody doing that?

STU: Not yet.

GLENN: Yeah. So we'll have food shortages. And we know we're having food shortages already. We know that today, that they're coming.

Why would you make it worse?

You don't care about people. If you really, truly believe that you can't do this. You have to -- you have to punish America. And reward Russia, or Iran, or Saudi Arabia, or Venezuela. You're, A, an idiot.

B, you don't care about people. I don't care what you say.

You don't care about people. And you certainly don't care about the United States of America.

And that's what I think is really driving this policy.

They don't care -- no. It's beyond that.

They despise the United States of America.

And this will only hasten our end.

Gas went up 10 cents last night.

STU: Highest rise in a week, in history.

GLENN: Right. We find out today, that we're cutting off, how much oil, from Russia?

STU: 5 percent of the global -- 5 percent of the global supply. 7 percent of the global supply.

Again, that doesn't seem like a ton. When you need to replace it. It can make things very difficult.

GLENN: Well, you know what it is like. Your inflation is 10 percent right now. They say 7.5.

That's your inflation rate. I don't know. How are things going for you? Do you notice that 10 percent missing?

STU: So you know you're not going to get the oil out of the ground, from the Democrats. You know they're not going to do that. So do you take this step anyway?

Do you do -- do you cut off Russian oil, because punishing Russia is something that should be done? Based on what they are doing --

GLENN: No. At the expense of the United States of America, no. No.

I don't. Look, here's the thing. I really feel for the Ukrainian people. But this might be the -- this might be the death of us. This really, truly might be the death of us.

It's coming. And it's coming quicker and quicker. I think it will come before the election. I could be wrong. And if it doesn't happen before the election, I can guarantee you today, the Democrats are going to scream fraud.

That it's a stolen election, if Republicans win.

They will do everything times ten, that they accused Donald Trump of doing.

And there will be riots in the streets.

They will riot in the streets.

And nothing will happen to them.

And that's just going to push us over the brink, even more.

I just -- I'm sorry. You cannot print money like we have printed. And then cut off the oil supply.

Look, oil is -- is everything.

We literally don't get the vegetables to the table, without oil. In like 100 different ways. So saying that we're going to -- we're going to just cut back. And we're all going to have wear a sweater.

This is beyond wearing a sweater. This have this is way beyond wearing a sweater, like Jimmy Carter said in the 1970s.

This is the crippling of the economy.

You cannot make things, if you don't have oil.

Gee, and who does that benefit?

Let's see, if you can't make things. Then and people can't drive around. Then the demand is less.

Then they won't be have things to buy. We'll have plenty of money. But nothing our money can buy.

STU: Do you think -- we know they're not going to do what we want them to do. They're not going to open up -- show the power of the United States.

We're going to we're going to much of our own resources.

Is there any chance, you think Biden comes out and says, and throws a bone at that argument. And says, you know what. We did shut down drilling in this area and area. We'll open it up for the time being.

GLENN: No. No.

STU: No chance?

GLENN: He will say, he will open up the strategic oil reserves.

STU: Which is a terrible idea. Legitimately terrible.

GLENN: You're on the eve of possible World War III. That's not what I'm saying. That's what pundits are saying.

STU: It's obviously true. Right?

GLENN: Yes. Yes.

STU: They are one country away from a NATO --

GLENN: Correct.

STU: Attack.

GLENN: Anything could happen.

STU: Anything could happen.

It doesn't mean it's likely.

GLENN: It's correct.

STU: Very much more possible, now, than a month ago.

GLENN: So that's really exciting to know.

STU: You don't get rid of your oil.

GLENN: You don't. The strategic oil reserve, is for a situation, just like this.

That if you have to go to war, and you don't have the oil. And it's going to cripple everything at home.

Imagine trying to fill the tanks of the fleet. Okay?

Aircraft. Tanks. Everything else.

Independently, having to fill those tanks, for a war.

And, the price of gasoline, here in America.

Gee, how long would we last? How long would we be making new airplanes?

New tanks, new ships.

This is -- this is the road to destruction.

But we'll see what he has to say. He's now, what? Forty-five minutes late. For his --

STU: He's never on time for these things. Why do they even announce them? Why not let him stumble down on his PJs wherever he gets ready?

TV

The ONLY Trump/Epstein Files Theories That Make Sense | Glenn TV | Ep 445

Is the case closed on Jeffrey Epstein and Russiagate? Maybe not. Glenn Beck pulls the thread on the story and its far-reaching implications that could expose a web of scandals and lead to a complete implosion of trust. Glenn lays out five theories that could explain Trump’s frustration over the Epstein files and why Glenn may never talk about the Epstein case again. Plus, Glenn connects the dots between the Russiagate hoax, the Hunter Biden laptop cover-up, and the Steele dossier related to the FBI’s new “grand conspiracy” probe. It all leads to one James Bond-like villain: former CIA Director John Brennan. Then, Bryan Dean Wright, former CIA operations officer, tells Glenn why he believes his former boss Brennan belongs in prison and what must happen to prevent a full-blown trust implosion in American institutions.

RADIO

Rumors explained: Is Fed Chair Jerome Powell OUT?!

After rumors spread that President Trump would soon fire Federal Reserve Chair Jerome Powell, Trump has said that he's "not planning" on it right now. But is it possible for Trump to fire him? Will he resign? And how is the Fed Chair even chosen in the first place? Glenn and his head researcher Jason Buttrill explain ...

Transcript

Below is a rush transcript that may contain errors

GLENN: Well, last night, I was rapidly looking the lie some of these rumors, on X.

Pretty incredible people on what's going on with Jerome Powell and the fed.

What the heck?

I was actually popping popcorn and watching this. It was so crazy.

GLENN: So it's just the rumors, that he is going to be stepping down?

JASON: Well, yeah.

Yeah. Anna Paulina Luna. Congresswoman. She was saying, it was almost imminent, that he was about to be fired. Actually fired.

There were other rumors saying, well, we're not sure about fired.

But he's considering resigning.

GLENN: Yeah. You know why.

JASON: We were like, what the heck is going on?

GLENN: So do you know why?

Do you know why he's resigning? Any guesses? I mean, you had popcorn out. I would love to hear what you have come up with.

JASON: So there was the CPI stuff coming out. The interest rates going up.

We know that the President wants interest rates to come down. I'm assuming that is what the deal is, and there's some sort of internal battle going on.

GLENN: Well, and the president can't fire the Fed chief. Okay?

So the Fed chief is the one that nominated. The federal reserve is the biggest crock of bullcrap I've ever seen in my life.

It's nothing, but the five biggest banks. Okay? And you know which ones they are. They're the ones that keep getting bigger. And everybody else is falling to the wayside.

So the Federal Reserve is the arm of those five banks.

Okay?

And they suggest, who the president can select from.

So the president can't say, I don't want any of these guys. I want this guy. Can't do it.

He has to take a look at the list that all the banks have put together. Is. Say, pick from this list, Mr. President.

Did you know that?

JASON: It's kind of how Iran chooses their next president.

GLENN: It's exactly. It's exactly that way. Except, this religion is all about the almighty dollar.

Okay. So he can't -- he can't pick on his own. But the president has a right to pick one, you know, every term. If it comes up in his term.

The president wants this guy out. And I think he's been really, really bad.

Because he's been wrong on almost -- on almost everything. But show me the -- show me the Fed, you know, the guy who the Fed was right ever.

So he can't fire him. But he wants him out. Because he wants interest rates dropped.

And, you know, the jobs are coming back. Things are coming back.

But interest rates keep coming up.

And the -- and the interest rates, if we keep our interest rates high, we have a harder time borrowing money for our debt.

And it just gets more and more expensive for everybody all along. So the president wants him to back off interest rates. But the Fed chief believes that that could cause more inflation.

Which I think he's right on that one. And I hate to say he was right on anything.

Because I don't think he was ever right.

Makes me question myself. When he's like, well, I think he might have a point on that one. But the president is like, no. He can handle it.

I want them down. I want cheap money again.

He refuses. So what has the president done?

The president can only fire him, with cause!

So what do you do when you can only fire somebody with cause, and you want them out.

You find a cause, and this one is easy.

So the Fed has been the one leading the way saying, we can't keep borrowing money.

We've got to have some fiscal sanity. Right?

This is going to kill us. We have to keep these interest rates high, because you are borrowing too much money. And maybe this is the only way to stop you.

So we got to keep it high, because you've borrowed too much money. And how many times has he testified in front of Congress? We've got to cut. We've got to cut. You can't keep spending like this.

Okay? Well, did you know that the Federal Reserve, with our tax dollars, the five biggest banks, a/k/a the Federal Reserve, is redoing their offices. To the tune of two billion dollars!

Now, I don't know what kind of wallpaper they need there.

But that seems like a pretty hefty renovation, especially when everybody is looking at cutting things. And you're lecturing me about spending money. So they get money from the government, okay? They're telling us, stop spending.
Stop borrowing.

Except, okay. What you've borrowed. I need $2 billion of that, to redo our offices in Washington, DC.

Excuse me?

Why don't you do that yourself. Okay. I think banks maybe have some money.

So they're borrowing that money, and there's $700 million over.

So it's $2 billion. $700 million over budget. And they're still not finished.

And the problem is: They're putting in water features.

They have a rooftop garden they're building.

JASON: Okay.

GLENN: I mean, it is -- it's insane. The president now knows, really? You want to play this game with me. I will sit your ass down in front of Congress, and you answer to the American people, how you're lecturing us about spending. And you're putting in a rooftop garden and a water feature in your office. No! No.

So the president is now threatening, I'll fire you for this. You want to quit, now would be the time to quit.

Otherwise, I'm dragging your butt in front of Congress.

You answer to the American people for this. And they will beg me to fire you.

That's what's happening.

JASON: I looked at that a lot.

Because I was like. There's got to be some leverage that the president had, because they can't get rid of.

But that is a pretty big cut. That sounds like a Babylon Bee article. $2 billion.

GLENN: It does. It does. $2 billion, 700 million over budget.

JASON: Oh, my gosh.

GLENN: I mean, and these are the responsible bankers. No, I don't think so.

It just shows, they don't mean what they say. They'll just keep doing it for themselves. You know, if you really believed that America was really on that financial cliff, why would you do that?

You would lead the way and say, guys, we are going to be the only responsible ones here.

We will lead by example.

No renovation. You know what, go to IKEA?

You need a new desk. Go to IKEA, and get a new desk. Well, we have to keep up our image. We're not going to have a country.

So what do you say, we go to IKEA?

Our image should be, we are going to lead the way out of this madness!

That's what a leader would do.

JASON: So, Glenn, I still don't think I get this disconnect between Trump and Powell on -- we know Trump wants to lower interest rates.

Powell is standing back and saying, basically, he doesn't want to do it.

Is he trying to undermine President Trump on this?

GLENN: President Trump thinks so. President Trump thinks so.

I think so, to some degree.

I mean, I'm worried about inflation.

Look, you know what happened. Do you know what's happening with yap?

JASON: What's happening with Japan?

GLENN: So what's happening with Japan, is Japan has always had this really amazing image of, we're solid. We're absolutely solid.

This is target to crack. The foundation.

1989.

Let me go back to 1989.

This was the crown jury trial of the global economy.

Back in 1989, you probably aren't old enough to remember.

All of a sudden, Japan owned everything in America. We were just becoming Japanese, and everything was being purchased by Japan. Kind of like it feels a little bit like China now.

JASON: They even owned Nakatomi Plaza, Glenn, that Bruce Willis had to save -- they owned everything in every '80s movie!

GLENN: Oh, yeah, they owned absolutely everything.

Okay? And the -- things were so insane in Japan. The grounds of the imperial palace, in Tokyo, on paper was worth more than the entire value of the state of California.


JASON: Wow!

GLENN: Okay?

So their land. Everything just shot up. And so they had all of -- they were flush with all this cash.

And people believed that Japan had suddenly, you know, cracked the formula for, you know, eternal prosperity.

That's the problem. Then it all started to fall apart. And the asset prices. That they had mortgaged against.

Okay?

They had borrowed. Well, the imperial palace was worth more than California.

That doesn't make any sense. You wouldn't mortgage it like that. At least long-term. I will do this real quick, and pay it off.

You would never, ever mortgage, because you know that's inane. Well, nobody ever wanted -- and it seems in governments, nobody ever wants to believe that this is just a fluke. Okay?

So the asset prices collapse. The stock markets plunged. And for three decades, they have gone into this very polite political coma.

Okay? Economic coma. And so the central bank did something radical. They were the first ones to set your interest rate at zero. They lowered the interest rate. They made money so cheap, it was nearly free. Zero percent interest. Sometimes, they would pay you to take out money.

So the -- they had negative interest rates. Can you imagine that? Now, you're not fixing the problem. You're just printing wallpaper to cover the mold. All right?

So they've done this for decades.

Now their debt is I think 260. Or 280 percent of their GDP.

I think, what is ours?

100?

80 percent.

Something crazy. 120. You never believe back.

The death threshold is usually 120, 140.

They're 260 percent of their entire economy is debt.

That's not a crack. That's a fault line.

So this week. Or was it last week? Things started to creek and grown in Japan.

And the government bonds, which are like our treasuries. Is this getting too complex.

Are you following this still?

JASON: Yeah.

GLENN: Okay. So their government bonds.

They were the safest investments on earth.

One of them. Okay?

It's us. Japan, Germany.

They started to fall.

Hard. And when bond prices fall, interest rates were the easily go up.

All right?

So they borrow all this money.

260 percent of their GDP is borrowed. Okay?

So they borrowed all of that money. And they had it at like 3 percent interest. Whatever.

2 percent interest.

And they were paying people.

2 percent.

Well, all of a sudden, the cracks started to appear. And people were like, I'm not sure this is stable at all.

And then the belief of the system started to -- to go away. So people started selling their Japanese bonds.

Once they do that, now the yields have to go up.

What happens when yields go up?

What happens when interest rates go up? For a government. You have to pay more interest on your debt!

Okay?

You add two or three points.

Just imagine, you have an adjustable rate. Okay?

This is a government having an adjustable rate. Except, they have 260 percent of everything they make, in debt!

And it's all leveraged.

And now, their adjustable goes up two, three, four points.

You're not able to afford that anymore, okay?

So massive problem.

Because what it really means is. People don't believe in Japan.

They know the con game is now over.

And investors are saying, you know, I want a whole lot more in return.

Because I just don't believe you anymore.

And it's not just Japan's problem. This is not a neighbor's house on fair.

This is -- imagine we're all living under the same roof. This is the neighbor's apartment, on fire.

We're all under the same roof. We all have the same foundation. And so when this happens to Japan, you should pay attention. And I'll show you the ripple effects in just a second.

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(music)

GLENN: Okay. So now if Japan -- that means there's a stampede out of Japan.

And people are starting to look and reprice the risk of their money.

Now they're like, wait a minute.

The most stable. You know, if you're driving a car and it is the safest car in the world and all of a sudden, they just start blowing up on the highway.

You're like, I don't think that's the most -- that's the safest car on the highway.

And if that's the safest car, what does it mean for the car I'm in?

You know what I mean? So now, this is going to push US interest rates going up.

Which makes our mortgage rates go can up. And our car loans more expensive. And the national debt. Which is already costing us $1.2 trillion a year, just in interest.

Now, they can't sell their treasuries. People are skittish on treasuries. Maybe they come to the United States, but they're not so far.

They're getting out of the Japanese interest. Or the bonds there.

Japan has to pay their bills.

What do you do when you have to pay a bill?

And you don't have any money coming in.

You don't have enough money coming in. What do you do?

You sell something. Right? You sell your car. You sell something that you have of value.

Well, what do they have? What do they hold of value? US Treasuries.

So now, we are trying to sell our bonds, for our new debt, they hold our old debt.

They're saying, hey. Anybody want to buy this debt? Because I have to sell it. Fire sale. What do you give me for it?

Okay?

Which makes that debt more attractive, because they can get a better deal there.

Which means, if we want to have new debt, we have to raise our interest rates. Which means, we pay more for interest for our mortgages and everything else.

And it floods the market with bonds, crushing the prices, skyrocketing the costs for us.
And causing even more trouble, in other countries, that have US bonds. Because they start to look and go, nobody is buying these bonds.

Well, of course not. You have two countries. The two stablest countries besides Germany.

You have the two stablest countries now selling US Treasury bonds.

Okay? Really, really bad.

Now, let me add this on.

Germany is now having to pay for their own army.

And so they said, they're going to borrow money.

To build the army.

And they're going to lower their interest rate. So they can borrow more money. All right?

And now, the German bund, which is -- you know, like our Treasury. That's now starting to fall apart.

Well, Germany has some assets, they can sell.

What do you think that asset might be that they want to sell?

US treasuries.

We have been playing an extraordinarily horrible game.

This is why I believe the president wants somebody else in charge of the Fed, because the Fed can say, we're lowering the interest rates.

Because he's got to get more money into the system. So people can spend money, can start businesses. Borrow money.

Get things moving, so we can increase the amount of taxes that we collect.

The more people money -- the more people make, the more taxes we collect.

So he's like, we've got to grow the economy. And the only way we can grow the economy is to lower the interest rates.

But at the same time, interest rates around the world because of what's happening with the bonds is going through the roof.

We are in a very -- we've never been in this position before.

THE GLENN BECK PODCAST

Why the Term "Conspiracy Theory" is CIA-Created Weapon for Control

Conspiracies are of course real and occur every single day. But yet, many in the media and elite political circles attempt to use the term "conspiracy theory" to smear and discredit those who are skeptical of conventional narratives. Where did this term come from and how should we understand it? Journalist Alex Newman joins Glenn Beck to break this down and how it impacts the world as we see it today.

Watch Glenn Beck's FULL Interview with Journalist Alex Newman HERE

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Chalkboard Breakdown: How George Soros & the 'Deep State' funnel YOUR money to radical groups

Where do these massive left-wing radical groups get all their money from? Much of it is effectively a scam that occurs using your tax dollars to fund these groups that you would never support on your own. Glenn Beck heads to the chalkboard to expose the connections so you can visualize exactly how someone like George Soros manipulates the system.

Watch the FULL Episode HERE: Deep State ON NOTICE: New Tech Traces the USAID, Globalist Money Trail