RADIO

Bill O’Reilly & Glenn detail the ‘ANGST’ facing Fox News

Is Fox News crumbling at the seams? Bill O’Reilly joins Glenn to discuss a lawsuit facing the network that could be ‘crippling.’ Plus, they discuss a new hire at the network, and whether or not the network's loyal, conservative viewers are preparing to jump ship. Plus, why did Speaker McCarthy trust ONLY Tucker Carlson with hours of January 6th footage?

Transcript

Below is a rush transcript that may contain errors

GLENN: Bill O'Reilly is joining us now from BillO'Reilly.com. He does his no spin zone news every night. You can find it at BillO'Reilly.com.

Bill, been a great week. We have a lot to talk about. But I want to remind you, that we ended last week, saying that we wanted to talk about the lawsuit that's going on, with Fox.

That could be crippling to them. And I am hearing rumblings that that network is coming apart at the seams, on the inside. I don't know if that's true, but that's what I heard.

BILL: Well, there's a lot of angst. There's no doubt about it. And the cross-examination of what dominion put out there is definitely necessary, if you want to form some kind of accurate portrayal of what happened.

I know what happened.

But I don't want to be in a position, and I don't think you do either. Because we both worked for FNC. You know, bad-mouthing former employers, I don't like that position. But I can tell you that, I do believe there are going to be big changes at that network. Not right away.

But there's a guy named David Rhodes, very quietly that FNC hired. Did you pick that up?

GLENN: Yeah. David Rhodes. And why don't you explain who David Rhodes is.

BILL: Okay. Former CBS News, chief news guy.

GLENN: And?

BILL: And the brother of -- his brother --

GLENN: Ben. Ben Rhodes.

BILL: Worked with Obama. Yeah. So, you know, hiring this guy to do the job that he said he is going to do. That's not what he's coming in.

So that's number one.

And then number two, it's a different place than it was when you and I were there. No doubt about it.

GLENN: Yeah. Big time.

BILL: And I did a poll on BillO'Reilly.com has the dominion lawsuit change their opinion of Fox News. Eighty-five percent say no.

Because they are hard-core conservative traditional people, and they have nowhere else to go.

GLENN: Well, I will tell you this. I will tell you this.

I have heard more and more people say, I just don't -- I don't trust it anymore.

I don't -- you know, I don't watch it like I used to.

They're not against Fox, but they're not like they used to be.

Now, that's my audience, and our audiences are different, so.

BILL: That's true, particularly the younger people, the demographic. February to February, down 33 percent, prime time. That's a disaster.

GLENN: Yeah. Disaster.

BILL: So the younger people, the average age of the Fox News viewer right now is about 70 years old.

GLENN: What's really weird, Bill. I don't know if you thought about this. But we were the last of the big national names. I mean, that doesn't happen anymore.

You're -- these platforms, like that, that have everybody from all walks of life, coming to that platform. That -- that kind of fame, that you had for so long, is -- is not happening anymore.

BILL: The business plan now is to cater to the choir. And we had a defactor, independents and liberals, at a very high rate.

They don't have that anymore. The final thing is that, you know, Tucker Carlson got a big break, and he's the most recognizable guy. You know, Hannah has been around forever. But everybody knows Sean.

But she's basically -- he's not the highest rated show. The five, if you can believe it. That's your all-time slot.

GLENN: I know. The time slot that never, ever, ever did anything. And now it's the strongest one.

BILL: Yeah. It's a stronger show. Because they like the people there. The older folks who watch it. They like the personalities there.

But next week, when he shows the January 6 tape, that was like given to him, by the Speaker of the House. That's a huge break for them. Huge break.

GLENN: Yeah. I will tell you, I am a little disturbed by it. I'm glad he has it, and will be watching and everything else.

But I'm a little disturbed that it was given to only one person. There are so many hours.

The way these things usually get -- you get to the truth, quickly. Is when it's just dumped out and everyone can look through it.

BILL: Yeah. I disagree a little bit with that. Because if you give it to the New York Times. They're not going to report accurately about it. Now, whether Carlson does or not, I don't know.

But he will have to show you the tape. Now they can edit it. I know. And I'm not.

Look I wish McCarthy had given it to me. Because then you would get a fair play. And you.

I mean, we're not going to cut it, so that you're not getting a real picture of it. But if he gave it to everybody, then you would get this massive propaganda hit, that would just blow any of the factual part of the tape away.

And McCarthy wants Fox news, to be in his corner.

Okay? Any speaker of the House would want that. And that's why he did it.

GLENN: You following the Scott Adams?

BILL: Oh, yeah.

GLENN: Tell me about it.

BILL: Are you talking about the abortion guy?

GLENN: Yeah. Scott -- no. Scott Adams. The guy -- well, we can talk about that too.

Scott Adams, the cartoonist.

Didn't follow it.

BILL: You talking about Dilbert?

GLENN: Yeah.

BILL: Okay, yeah. Beck, I'm on everything. Yeah, I felt that, you know, I didn't think that was a smart move for him.
(laughter)
You know.

GLENN: Yeah. That's -- well said. Well said. Here's my rule. And I will make a confession on the Glenn Beck Program today.

I used to try to persuade people, to look at race in one way or another. All right?

And I had a detente with Al Sharpton. He was on the Factor. I gave his organization $25,000, when they ran out of money for Thanksgiving, to give turkeys away to the people of Harlem. Nobody knows that, by the way.

And I tried, as hard as I could try, to bring detente. And now, I don't do that any longer.

GLENN: Yeah. I know.

I'm the same way. Let's talk about the hearings that happened with Merrick Garland. Those were so satisfying. Except, is anything going to come of it?

BILL: Well, it shows you that the Department of Justice in the United States is corrupt.

GLENN: Yeah. We know that.

BILL: Merrick Garland makes Jeff sessions look like Rambo. I mean, he is such a doddering weak character.

This is the guy going up against the trucking cartels?

GLENN: Yeah.

BILL: I mean, this guy, when you ask a question, as simple and essential as why has it taken three years, to investigate Hunter Biden and we still don't know the status of the investigation?

And the man is like. You know.

It's -- now, Ray at least said, well, it's the fault of the DA in -- the attorney general of Delaware.

GLENN: Uh-huh.

BILL: Okay.

But Garland is up there, and he didn't order any arrests when he could have. Remember, he's the boss, of -- of the Justice Department.

You have videotape of people standing outside Kavanaugh and Robert's homes, protesting the abortion ruling.

You have their faces. You know who they are, all right?

And you let it go.

GLENN: He said, that's because the marshals make that kind of decision.

BILL: But they don't. That's not true.

GLENN: I know.

BILL: The prosecutorial calls made by the attorney general. All he had to do was order the marshals or the FBI to bring these people in. And he did not do it. Because the Biden administration told him not to do it.

Because they want to curry favor with the pro-abortion crew.

GLENN: So -- so, Bill, we had -- I mean, that testimony was incredible. And clearly, there were falsehoods told in it.

BILL: Yeah.

GLENN: The lady who was up for the national archivist role, she out and out lied under oath. And provable. And it was astounding, that testimony. Does -- would any of that -- do you remember the days when you wouldn't want to be called in front of Congress, because Congress has so much power, if they say you're lying or whatever, they can -- they can do whatever they want to you, pretty much?

And there was some fear. You know, you have to be really careful. These people are openly lying under oath, and nothing is happening to them.

BILL: Yeah. I mean, that started under Obama, with his attorney general on the fast and furious gun thing.

GLENN: Right.

BILL: And they said, look, you have to turn over all -- and he said, no. Not going to do it. Holder. And once Congress walked away from that, that was over.

It was over.

So now, you're right, the lawyers tell the people -- the government people, going in to testify in these committees, here's what you say, all right?

And we can weasel you out of it, if they come at you. But they probably won't. So here's what you say. I mean, we never got anything from Lois Lerner. The IRS. Cincinnati person, who is persecuting the right-wing groups. Nothing. Nothing.

GLENN: Nothing. Nothing. Nothing with Fauci. Fauci just -- the lies --

BILL: Well, a little bit different. A little bit different.

GLENN: In what way? In what way?

BILL: Because Fauci will hide behind, that's my opinion, all right? It was my opinion that it didn't -- COVID didn't come out of that lab. It's my opinion. My opinion. Opinion. Opinion. Okay?

That's what Fox is using against dominion. It's opinion, opinion, opinion. So Fauci is not -- but in a factual area, when you -- you have the attorney general of the United States, who sends and approves of 25 FBI agents, S.W.A.T. teams, kicking down the door of a pro-life person

GLENN: Yeah.

BILL: Arresting, prosecuting, then the person is found not guilty.

GLENN: In an hour.

BILL: Did you see any remorse?

GLENN: No. None. None.

BILL: No. He's an arrogant, dishonest. And he was almost the Supreme Court justice.

GLENN: I know. I thought about that the whole time. Bill O'Reilly from BillO'Reilly.com. We'll talk to you next week, thank you so much. Bill O'Reilly, watch his No Spin News at BillO'Reilly.com.

RADIO

Did the Minneapolis mayor just put Somalis before American taxpayers?!

Minneapolis mayor Jacob Frey recently kowtowed to Somali immigrants, even speaking Somali in a speech, amid a fraud scandal. But his decision to do so doesn't just appear to put Somalis before American taxpayers. Glenn Beck explains the dangerous secret it reveals about how the Democratic Party really views immigrants...

Transcript

Below is a rush transcript that may contain errors

GLENN: I've been talking about not making enemies, but speaking the truth.

That's the important part. Speak the truth.

Because I have now in my life, and you do too. I have evidence now, I've always -- I've always felt God existed. I feel like I know him.

I -- I have accepted him into my life. I have asked for forgiveness. And asked for salvation. I've received it.

I feel these things. And I have personal witnesses of a testimony to say, he exists. But for the very first time, we all have, as a collective, evidence that not only does he exist, he is involved in the affairs of man.

And the first one, that we all can agree on, is the assassination attempt on Donald Trump.

That was an act of God. I'm sorry. But it was.

There was no way. There is no way, that was an act of God. God inserting himself in the affairs of men.

Because he's not neutral on things. That doesn't mean he's a Donald Trump guy, or a MAGA supporter.

It means, he will use things, you know, whether we like it or not, he will use things to further his agenda.

And that's not a political agenda. I also feel that it was a miracle. And this gets a little more sketchy. But I think it was a miracle in retrospect, what happened in 2020. Because we wouldn't have the president that we had today, if he had been elected in 2020. The other miracle is what we saw after Charlie Kirk. So why we don't put more faith into God. We're not alone.

We're seeing, he's showing up for the first time.

And we don't need to have these big arguments on big esoteric things.

We -- you know what, we just need people -- here's one. Let's agree that we should arrest people, that break the law.

Whether they're the president, or an illegal alien that has nothing.

You break the law. You pay the price!

Why -- how is it we can't agree on this. I don't know. Did you hear the Minneapolis mayor on this fraud? This taxpayer fraud?

We're talks about a billion dollars in fraud. Okay?

Your tax dollars going to Somalia, and going to some of it, Al-Shabaab, one of the worst terrorist organizations in the world. Your tax dollars, in fraud.

And here's the Minneapolis mayor. Play cut one please. Listen to this.

VOICE: Good afternoon, my name is Jacob Fry. I'm the mayor of Minneapolis. And we are here to respond to a number of credible reports from several media outlets relaying that there are as many as 100 federal agents, that will be deployed to the Twin Cities with a specific focus, targeting our Somali community.

To our Somali community, we love you. And we stand with you. That commitment is rock solid.

Minneapolis is proud to be home to the largest Somali community in the entire country.

They've been here for decades, in many instances.

They're entrepreneurs, and fathers. They benefit both the culture and the economic --

GLENN: Is anybody arguing with this?

Is anybody arguing with the Somali community?

They are not coming in to target the Somali community. They are coming in to target the fraud that is happening in the Somali community. See, he immediately jumps to race.

Because that's what that means. Once you tart talking about a collective. They're coming after the Somali community. You know you're into racism. You're into some ism, okay?

That's very reminiscent of Hitler. Because that's what he did, and everybody is the same. Only the certain German elites. Only the certain Germans with blue eyes and blond hair. Well, except for the Hitler leader, can rule the world. Okay?

That's racism. When you're saying, they're coming after the Somali community, what you're saying is, oh, well, they're racists coming in. But what he's actually saying is, look, we -- we're lumping every Somali in our community as clean!

Well, no. No. You can't say that. That's racism.

Just like I can't say, every Somali is dirty. You send in teams of professionals to find out, who is involved in this.

And I don't care if they're Somali or they're the governor, if they broke the law, they need to go to jail.

But let me tell you what's actually happening here. What's actually happening here, is 100 percent all about politics.

If he doesn't protect or appear to be on the side of the Somali community. If he doesn't make -- if he allows Feds to come in and mess with the Somali community, even the lawbreakers, he feels he can't win.

If you don't have the Somali community in many Minneapolis, you're not going to win.

Now, how un-American of me to say that.

Well, it's funny. Because he speaks about how un-American it is for Donald Trump to come in and send people into the community. To fight crime. How un-American.

Play what is it? Cut 42?

VOICE: That's not American. That's not what we are about. We're going to do right by every single person in our cities.

And to our Somali community (foreign language).

STU: Oh, my God. At least practice it in the mirror first.

GLENN: That's like me doing it.

That's like me speaking English. I mean, that is just -- that's embarrassing. That's embarrassing.

I mean -- and to follow that. Or to proceed that with, that's just un-American!

We're going to support every member of our community. That's un-American.

And so to our Somali community, you mean the American community? That has been here for decades?

Why are you speaking Somalian to them?

Why? Have they not melted in? No. Because we're a salad bowl. We're not a salad bowl.

You want a salad bowl, go over to Europe. And you'll have that delicious salad, that will not satiate any kind of hunger, ever!

We're a melting pot. Which would imply that you speak English, especially when you say, you know, everybody here, they're great Americans. They're great Americans.

Great. So let me say in English, because I know you're learning English, oh, you're not learning English. Oh, okay.

Well, that -- oh, that's right. We're a salad bowl. That's un-American. That's un-American.

I want -- somebody said to me the other day, you know, Glenn why -- why -- why -- why don't people understand immigration?

And I said, what do you mean by that? Well, you know, people want immigration, and they don't want people coming in. And they're saying they're for immigration.

Wait a minute. Hang on just a second. Everyone I know, that I think is reasonable, everyone that I know, they love immigrants. They love immigrants.

The immigrants that come over and they're like, thank God I'm here. I got here as fast as I could. I mean, I'm a citizen. And they light up when they say they're a citizen. They'll talk about our Founders. They've -- and they'll speak English.

They want to be citizens. Because they know what freedom actually means. Okay?

I want those -- I want those people in every day. I would love to have Somali citizens here, that realize what they escaped.

And realize, wow. That was a really bad scene. I'm glad I'm out of that. And I'm here.

Because I have the opportunity to be me.
I don't want the ones that were here, that are just trying to re-create Somalia. Go to Somalia. What! Why are you here?

Hang on -- you moved from Somalia so you could create another Somalia, except with loads of snow? I mean, help me out with that one.

STU: That was the problem with Somalia. Too warm. That was the big one.

GLENN: Too warm. Too warm. Not --

STU: Just everything else about it was great.

GLENN: Not just endless mountains of snow for months on end. I mean, come on. Come on.

STU: It's so strange.

You know, the -- the instinct behind a politician to think that the right thing to do is to come out, in the most awkward way possible and fumble your way through the language of a few of the residents of your city.

Like, what -- it's so pathetic, the pandering is just awful. And, you know, look, no one cares. I'm sure there's plenty of people in the Somali community that are entrepreneurs. And I'm sure they're doing a great job. And for the people that came here legally and are doing a great job, great. Those are not the people being charged with these crimes. Those are not the people who are defrauding autism programs to bilk the state out of millions and up to a billion dollars. That should be going to kids who actually have autism. Right?

GLENN: How about food?

STU: Food. Housing.

GLENN: How about food?

STU: Basic human needs, these programs that obviously, shouldn't exist to the levels that they do. As they're being manipulated this way.

If they're going to exist, they should be going to people who need the help.

People that might exist.

GLENN: And you know who is really hurt?

You know who really this mayor and this kind of philosophy hurts?

The Somali that wanted to come here, because they knew what America was.

What's happening is, they are allowing this growth of crime, corruption. You'll have warlords. You'll have Sharia law.

You'll have all of it.

The Somalis that came here for a new life, that wanted to escape all that, they're being forced right back into it by the politicians they thought represented the United States of America and our Constitution. And our rule of law!

Instead, they're speaking Somalian. Somalis. Somali -- instead, they're speaking that language, and -- and the Somali that came here for a better life has got to be like, what the hell? What? You've got to be kidding me! You're going to create what we just left!

It's sick. It's really sick.

And dare I say, un-American.

RADIO

The peril of rewriting history: Hitler's villainy cannot be redeemed

Attempts to recast Hitler as a misunderstood figure and paint Churchill as the true villain are spreading again... and the historical consequences of that distortion are dangerous. The reality is that Hitler sought domination, not coexistence; prepared for war long before Britain acted; and pursued a worldview fundamentally incompatible with Western civilization. Revisiting these facts matters now more than ever, as modern ideological confusion threatens to blur the line between tyranny and freedom. This is a sober reminder that history’s villains are clearly identified, and the record proves it.

Transcript

Below is a rush transcript that may contain errors

GLENN: I saw an interview yesterday, talks about Hitler again. Trying to make Hitler into the good guy.

And Winston Churchill into the bad guy.

I just don't get it. I really don't get it.

History. Really history is not a choose your own adventure kind of thing. It's ink on paper.
Orders in filing cabinets. Telegrams, diaries. Bodies.

It's what actually happened, not what we hope happened.

So let me just set the record straight on something, again, that is circulating. And it just -- somebody just has to calmly just say, what the truth is.

The thing is now that -- that Hitler had no intention toward the West.

That Britain didn't have to enter the war. That Winston Churchill. Not Adolf Hitler is the villain, who dragged the world into conflict.

Oh, my God. Let me just say this calmly, factually, and finally. Germany's plans for Poland were not reactive.

They were premeditated. The argument says that Britain roped the West into war by promising to defend Poland. No. Germany had already prepared to destroy Poland long before Neville Chamberlain ever made a pledge. How do I know this? Because in my history valuate, I have one of the clearest pieces of proof. It's called fall vice.

It's Hitler's operational blueprint for the invasion of Poland, drafted in 1938, a year before Chamberlain said, we're going to guarantee their safety.

So Poland was not a spontaneous reaction. Hitler was a liar. I know that's hard to get your arms around. But Hitler was a liar.

It was not about German minorities. It was not about self-determination. It was about conquest.

A step in Hitler's explicitly stated road map. Austria. Czechoslovakia. Poland. Then the east.

Britain didn't pull Germany into war. Germany was already marching toward war. Global war.

The second thing that has to be said, clearly. Hitler didn't have designs on Britain and the West.

Really?

Well, Hitler wanted peace with Britain. Because we have the paper trail again.

No, no, no. He wanted peace. He had no western ambitions.

Well, how do you explain Operation Sea Lion?

Hitler's detailed plan to invade and occupy Great Britain. You don't draw amphibious landing schedules across the English Channel, just in case.

And before that, Hitler deployed a different strategy. Diplomacy, and subterfuge. In May 1941, the deputy furor Rudolf Hess, that's a name, flew solo into Scotland, hoping to secure a deal with sympathetic elements with Great Britain. He parachuted down. He claimed he was carrying an offer: Let Hitler dominate Europe, and Germany would leave Britain alone.

Well, that sounds really peaceful, unless you forget what Hitler meant by dominance. He meant dismantling sovereign nations, annihilating the Jews, the Slavs, the -- the -- the gypsies. Any political opponent. Millions of human beings. Just eliminate them.

It -- in what world? In what world could a democratic nation be friends with that?

Britain had internal Nazi sympathizers. And Hitler counted on them.

Hess wasn't flying blind. Hitler believed Britain was divided, and he was right. You know why he was right?

Again, in my vault, I have it from Hitler's own schedule that was on his assistant's desk, the whole time!

Now you have the name and the time that he arrived. Former king Edward. He abdicated in 36. He had clear documented sympathies for the Nazi regime. He met Hitler in '37. I know! I have the documents!

He was courted as a possible puppet monarch. He said, reinstall me, and you can do what you want. I'll help you.

The Nazi files recovered after the war, showed explicit German plans to reinstall him, after an occupation. Hitler was not avoiding conflict with Britain. He was planning a subversion.

Well, yeah. But Hitler's ideology. You know, made friendship with the West possible. What? What?

Even if you pretend not to see the invasion plans and the Hess mission. And the internal sympathizers. Even if you erase every map, every memo, every military order, Hitler's ideology made an alliance with the Western democracies absolutely impossible. And I'm going to get to Stalin here any a second. But hear me. Hear me on this.

Hitler believed that the state was supreme. That the German people existed for the Reich.

In America, the Constitution is supreme!

And it exists to limit the states. Rights come from the fewer or and the government in Germany.

In America, rights come from God. And the government is the servant, not the master.

The individual in Germany, spendable. The West is built on the sanctity at this time of the individual.

Racial hierarchy, is destiny in Germany. The West at its best, rejects racial supremacy.

The Declaration starts with all men are created equal. Not some races are destined to rule.

Nowhere in our document does it say, the state must expand endlessly. That's not compatible with anything. Anything.

You cannot align with a regime whose foundational premise is that human dignity is a myth.

Well, well, the West chose Stalin. Because we thought he was better.

No. We chose survival. People are arguing now that the allies should have sided with Hitler instead of Stalin. No rational reading of history supports any of that.

Hitler and Stalin were both monstrous. Monstrous.

And the RIPA PAC proved that they were natural partners in evil, carving up Poland like a holiday roast, okay?

But here's the brutal truth: Once Hitler launched Operation Barbarossa, is that -- was that what it's called, Stu, you know? Barbarossa, right?

STU: Barbarossa.

GLENN: Barbarossa. When they turned to Russia. The question for us was no longer, hey, which dictator was better?

The question was, which outcome prevents Hitler from ruling all of Europe?

Because if Hitler defeated the Soviet Union, the resources of the east. All the oil. All the grain. All the industry. All the manpower, would have made the Third Reich unstoppable. So the choice was between two horrors. Which one?

Or do you want to stay out, and let them have all of that power. Well, yeah. Nowhere -- he's.

Only one Hitler had a trajectory of global domination at that time. Also, racial extermination.

And total state worship, that could not coexist with Western civilization.

We knew at the time, Stalin was just as bad. We knew we were going to be in war with Stalin at some point. And you know who really knew that?
Winston Churchill? He was the one saying, we can't have this guy as an ally. Britain did not drag the world into war.

Hitler did. And so let's go back to the central point. Churchill did not force a war. Chamberlain didn't conjure up a conflict out of thin air. The West didn't provoke Hitler. Hitler provoked history. He's the one who built the camps. And if you want to say you don't believe in the camps, God help us all.

He's the one who wrote Mein Kampf. He's the one armed in secret. He invaded without cause. He sought domination, not coexistence. To suggest otherwise, I mean, what is your intent, to rehabilitate him?

Hitler?

I mean, you're repeating the arguments Hitler made to excuse his aggression.

This is not about defending Churchill, who I think is a hero. But it's about defending the record, the truth. So in our moment of confusion and upheaval and ideological extremism, we don't lose our footing on the bedrock of fact.

This is the dangerous door we must not reopen. When we begin to question whether the West should have resisted Hitler, where are we going?

Would we entertain the idea that freedom and tyranny could have co-existed?

You're not just rearranging interpretations. You're reopening a door millions died to close.

History is not there to flatter us. Did the United States do bad things in World War II? Yeah. Did England? Yeah. Were we perfect?

No. Did we do the best we could?

Yes!

You know, sometimes -- sometimes your only choice is between bad and worse!

You cannot allow somebody like Hitler just to continue to grow and grow and grow and gobble the resources. And then take over the Soviet Union.

And then what? Have all of those resources to take the rest of the world?

My God!

It's so -- hmm. Sorry. I want to just keep this about facts. History is there to warn us.

And the warning is really, really simple.

Be very careful when someone tells you the villain wasn't really the villain.

Whoa, unto him, who makes evil good and good evil.

We know who the villains were. The documentation is very clear.

Trust me, I have a vault full of it.

You want to see it?

Come. Otherwise, you're just full of it!

When you have somebody telling you the villain is not the villain, that story never ends well. Fix reason firmly in her seat.

RADIO

THIS could COLLAPSE every major civilization at the SAME TIME

The United States, Europe, and China are all preparing for a coming global reset. Throughout history, civilizations have risen and fallen according to the same cycle of prosperity and debt. But never before has EVERY major civilization been on the verge of collapse at the same time. Glenn Beck breaks it all down.

Transcript

Below is a rush transcript that may contain errors

GLENN: Because for the very first time in world history. There's something new that has happened. The entire globe is riding the same wheel at the same time.

Okay? We're all in this debt cycle. And this has never happened before.

The cycle always begins the same way. The first step in this at the time cycle is discipline.

Discipline equals prosperity. Okay.

It goes right into prosperity. And every great empire starts with discipline. Rome did, you know, rebuilding after all the wars, strict budgets. Every great empire starts with discipline. Rome did. You know, rebuilding after all the wars. The strict budgets. Silver coinage. Land reforms. It helped restore, you know, the battered middle class. The Dutch Republic did the same thing: They invented modern finance, turning the swamp into the world's largest trade hub. Then the British empire did it after the glorious revolution. It brought fiscal stability and a gold-back pound, that the world trusted for over 200 years.

When that fell, America did it. After World War II, our debts were manageable, our currency was solid, backed by gold, productivity was unmatched, and we prospered. That is stage one. Discipline into prosperity. And prosperity if not darted, always leads to the second stage. Complacency into excess, okay? So excess creates this fatal illusion. The moment, you know, where we all look at each other, and go, this is great. It's going to be like this forever. It was always like this. It will always be like that.

Rome began borrowing heavily to pay for endless bread and circuses. France, funded the palaces and the pensions and the perpetual wars, through loans it could never repay.

Britain, in the late 19th century, took its global empire for granted, and levered -- levered itself into World War I.

Then came World War II. And then America beginning in the 1970s, untethered from -- untethered the dollar from gold. And discovered that debt could replace discipline.

So the second stage of the debt cycle is the age of entitlement, expansion. Imperial overreach.

Cheap credit.

And political bribery disguised as compassion.

Any of that sound like we've been there?

Done that?

The Dutch called it win handle. The trade in the wind.

Paper promises that replace real production.

We call it stimulus.

Easy money. Deficit spending.

Different words. Same exact sin.

That lees you to stage three. Financialization.

That goes to fragility. This is the most seductive stage. Rome debased its money until it was worth less than 2 percent of the original silver. The Byzantines watered down their unshakable dollar, if you will, and confidence collapsed. France printed their money, backed by land, until they were worth less and used as wallpaper.

Weimar, Germany, did the same thing. They destroyed a thousand years of savings in 18 months. Japan, 1990. Papered over its real estate collapse, with 30 years of zero interest rates.

And America, after 2008, discovered this intoxicating illusion, started by George W. Bush. I can violate the free market system, to save the free market system. That's quantitative easing. Money conjured up, without cost. Without any restraint. Without any consequence.

In stage three, nations convinced themselves, they're immune to any kind of gravity. Okay?

This time, it's different! We can manage this debt. Well, modern tools, you just don't understand. You know, the rules no longer apply.

You don't understand. Really?

Don't understand. The older rules always apply.

Because math is math.

And stage three always ends exactly the same way. Wherever it's tried!

The markets no longer trust the promises they're being fed, which leads us into stage four, the breaking point. Every empire eventually reaches a moment where its debts cannot be serviced. They can't be inflated away quietly. They can't be rolled over without consequence.

Rome reached it when they froze prices and shattered the last productive parts of its competent multiply France reached it in 1788, when it can no longer borrow. And that whole thing came to a head. Britain reached it in 1931 when it abandoned the gold standard.

Weimar reached it when inflation ate the soul of the nation. And extremism took over. Yap reached it, when its bond market effectively became nationalize. Propped up by its own central bank. Right now, America, Europe, China, Japan. And every other major power, listen to this carefully, have all hit stage four at the same time.

Never before in human history has this happened.

The bond markets are shaking. The currencies are all volatile. Politicians are praying that no one notices the numbers.

You know, that they no longer add up.

Stage four is not coming. We are now living inside the opening act. This is so important.

Yesterday, there was a story that said, that this is going to be the biggest Christmas season ever. And I'm wondering to myself, I see the prices. I go to McDonald's.

I go to the grocery store.

Any of us Walmart this weekend. I see the prices. And I'm looking at the prices.

And every time I'm looking at the prices, I'm like, how's the average person afford any of this?

And yet, we're spending. Spending. Spending.

And I don't understand it. And I fear we're doing what the government is doing. We're just spending because we can -- we think we can get out of it.

Then comes stage five. It's called the reset. Hmm.

Every debt system ends in one of three ways.

They inflate the money, so they can pay off the debt. And that's just an absolute wipeout. Weimar republic did it. France did it. Rome did it.

Just a wipeout. Then there's a hard default and political upheaval. Russia did that in 1917.

Argentina did it over and over again.

War leading to a new monetary order. That's another one.

And the neo -- the -- the Napoleonic wars. The British gold standard. World War II. Bretton Woods.

All of that. But there's always a reset. Always a new order that's born from the ashes of the old.

And here's what makes this moment unprecedented. Rome collapsed by itself. France collapsed alone. Weimar collapsed by itself.

Britain declined while America rose.

It was always one country coming down, and another one coming up.

This time, all countries. All countries, on both size, the free world and the not so free world, there's no one rising.

China is drowning in its local government debt. It's never going to say this, but it's a paper tiger.

Europe is fractured. And coming apart at the seams. Japan, demographic time bomb.

America is politically frozen and insolvent fiscally.

So for the very first time in world history. Every major civilization has reached its peak of the debt cycle.

This time, all at the same moment.

No one is coming up!

So what does that mean?

Well, for the very first time in human history, it means, when it arrives, it will not be regional. It will be global. It will not be slow. It will be systemic. It will be everywhere. Now, the hope, the history books don't tell, and nobody in the media will tell you this, is when every one of those resets, every collapse, every crisis, it created the conditions for renewal.

Rome, its fall opened the door for a new Christian civilization. France, the revolution there, birthed the modern nation state. Britain's decline cleared space for America's rise. The devastation of World War II led to the great expansion of prosperity, the greatest the world has ever seen. So the next chapter is not written. What happens to us is not written.

And it -- whether we rise or fall, from what's coming depends not on Washington. Not on Wall Street. But on us. In our homes, in our families. In our churches. And our communities.

The debt cycle is not prophecy. It is a warning.

You cannot borrow your way out of moral, fiscal, or spiritual bankruptcy.

Now, I don't feel like I chose this path. This -- with Bretton Woods and then 1972 coming off the gold standard. And what they did in 2008, to bail out all the banks. I didn't have anything to say. Did you have anything to say about that?

I didn't. I didn't. I wouldn't have chosen those things. But the world is putting something together.

And I want to show you what our choices are. Because right now, people say, you know, I don't like what Donald Trump is doing. Or, I don't like the World Economic Forum.

Or, I don't like what China. Okay. Great. But I want you to know, it's going to be one of these systems. Because it's being built.

It always happens. When one is coming down, some new system, usually a country.

But not a country this time. A new system begins to rise.

And it happens before the fall.