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RADIOJune 05, 2023

EXPLAINED: A possible banking CRISIS & what YOU should do

Weiss Ratings rates banks, stocks, bonds, and cryptocurrencies daily, closely monitoring the movements that happen within each sector. And they’re GOOD at it. In fact, of the 539 banks that have failed since 2009, they’ve given prior notice about 535 of them. Dallas Brown, a Weiss Ratings Publisher, joins Glenn to discuss which of today’s banks currently are facing possibly failure or crisis. Should Americans be concerned about our nation’s big banks, or is it only smaller ones and credit unions facing trouble? Plus, what should YOU do if your bank is at risk…? Listen to this clip to find out why you should NOT panic about today’s uncertain banking situation…

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. Welcome to the program, Dallas Brown. How are you?

DALLAS: Hey, Glenn how are you doing?

GLENN: I'm good. I'm good. So I don't know if you know much about me, but I tend to think, that we are running a shell game with our banks and our federal reserve and central bank and our Treasury.

And I think we've done such damage to our banks.

And they are just printing money to keep everything looking like it's okay.

I saw your -- so that's my point of view, so you know where I'm coming from.

And I want you to correct me, you know, and enlighten me, if you have anything better to say.

I have not heard of Weiss Ratings before. But I know you guys have been around for about 50 years. And in the last bank crash, I think you guys were the ones leading the way saying, trouble. Isn't that correct?

DALLAS: Yeah. But let me just jump in and tell you who liked this and what we've been doing. So this analysis we did isn't something that we just did one time. We rate banks and many assets. Stocks, insurance companies. Bonds.

And crypto. Daily.

And so we see the movement that happened, based on the liquidity of banks. Capitalization. Stability. And so we're very vigilant. Our analysts are very vigilant about this. And so Weiss has been doing this. They started rating banks in 1971.

GLENN: Okay.

DALLAS: So Martin Weiss is the founder. And his father, actually back in 1930, his name is Irving Weiss.

He predicted the failure of the bank of the United States.

And so that's where the catalyst of this came. So in 1971. He got together with his son. He started rating banks for safety for consumers. And so we rate every bank.

And so it's not just banks. It's also credit unions. So in 2008, you know, we -- we named in advance warning all the major banks that failed during that financial crisis.

GLENN: I mean, you were -- I think the only guys that said, Bear Stearns and Lehman Brothers are going.

DALLAS: Yeah. Yeah. So it was weeks before Bear Stearns, and it was like 100-some-odd days before Lehman Brothers. They're gone. It's an end game with them.

But since 2008, there have been 539 bank failures.

And we have given advanced warning on 535 bills.

And some of the other ones --

GLENN: Jeez. Okay.

DALLAS: So this isn't something we take lightly here. It's important -- it's important for consumers. But we kind of agree with you.

It's not the bank's fault 100 percent. It is the government. It is the government forcing them, to push this money out. Not letting the free market play a key role in regulating the banks.

GLENN: Right.

DALLAS: And they just keep stepping in to protect banks. Protect them from the market.

Created this monster that will be tough to fix or save.

GLENN: Right.

And it's only really benefiting, at least at this point, the big banks. Everything keeps getting folded into these banks, that we said were too big to fail. And so we have to make them smaller back in 2008.

They are just getting bigger and bigger and bigger. I mean, it feels like we're going to end up with, well, just a Bank of America.

DALLAS: Well, hopefully that doesn't happen. Because that's not good for anybody in our country at all.

GLENN: Right.

DALLAS: I was talking with a president. Of a regional bank, not too long ago.

And he was talking about a nationalized bank, and I was just like, why? Why are you talking about this?

This is not something that we -- we are discussing -- we need the privatization --

GLENN: Correct. So go ahead.

DALLAS: So this is what we found. This is what we found.

Basically, what's happening, because of how quickly they raised interest rates. Right?

There's a lot of banks that are holding bonds.

And when someone comes and does a bank run. Or we have a lot of people taking out deposits. Especially ones that have high uninsured amounts. So that's people that have over 250.

The banks are having a crisis. And if they don't have the liquidity. Or they don't have the cash to cover those. Like a typical bank run. They have to sell their abandons. And on their balance sheet, the bonds are marked, or held to maturity.

And so they have them marked, as if they were going to sell them in ten years. In 20 years. In 30 years.

But then they have to take them now. And they take a loss. And so after that, if the money that they're taking exceeds the capital, for the bank. Then somebody has to step in and save them.

We only have two options. Either we bail out regional banks. If this starts happening.

Or we sell them to the bigger banks. And we lessen the free market.

GLENN: Okay. So this is what I read, what, a week or so ago.

1210 institutions. That's banks, and what do you call them?

Credit unions.

That's 12.8 percent of our banking system. Got a red warning flag, signaling risk of imminent failure.

Three thousand received a yellow warning flag, indicating risk of failure in a financial crisis, or recession.

And 45 banks, 45 percent of all banks, and credit unions, were deemed vulnerable.

Well, if the 12.8 go down, then you have a financial crisis, or recession. And that just triggers the other three thousand, does it not?

DALLAS: So a lot of these banks are teetering, right?

They're getting loans from other banks. They're selling their assets, to be able to cover, if any type of run happens.

So what we're saying is, there are -- 12 percent, or 1210 institutions are at a point, where anybody decided to pull money out. Or we had some sort of small panic. They're not surviving. It's not happening.

And that is a lot to do with the fact that they don't have the liquidity, based on the short-term and long-term demands.

So when we rate banks, we have five different ratings. And there's 154 data points, we look at, within that rating.

And then we compare them to the stability across all of our data on those banks. And so we compare 6,000 data points to figure out what is the stability of this bank. And we rate every bank, A through E. Okay?

And so A and B are more stable. C is vulnerable.

That's the yellow flag, right? And D and E are the red flag. But there is -- there is quite a bit, even in that yellow flag. That if we hit a recession, or we come into a new financial crisis, they do not have the liquidity or the cash on hand.

To be able to survive.

GLENN: So what does that mean to the average person?

I've been telling people, don't pull your money out of a bank.

Unless, I think you're foolish for putting more than $250,000 in a bank -- a bank account, especially if you're an individual making business, I understand.

But you put -- you're going to get your money back. Now, how much your money is worth in the end, is another story.

But don't pull your money out. Because you will get that money if it fails. Right?

DALLAS: Yeah.

We don't -- first off, we don't want to cause panic. Right? That's why the FDIC. Who understood that a lot of problems with these recent bank failures, they had a lot of uninsured accounts. Right?

They were over the 250,000 dollar limit.

But the first thing is, don't hedge your bets.

Don't think that the FDIC has the Capitol to cover everybody, because they don't.

Right? When they came out and said, we will cover all accounts. I'll give you 250,000.

That just -- they're just paying lip service. That's exactly what they're doing.

GLENN: Well, I think they'll print the money. That's why I say, I wonder how much it will be worth in the end. They'll just print it.

DALLAS: So it's not the FDIC that will bail them out. It will be the US Treasury that will bail them out.

STU: Correct.

DALLAS: So the first thing I would do is never have 250,000 dollars.

GLENN: Okay.

DALLAS: Spread them out.

Because each county is actually insured. So you can have one in one and one in the other. And have a total of $500,000.

GLENN: In the same bank?

DALLAS: Yeah, as long as they're in separate accounts, it's the accounts themselves that are insured.

GLENN: Okay.

So when you say, signaling a risk of imminent failure, that means if something happens.

Or -- I mean, imminent failure usually is like DEFCON 1. A war has started.

It's coming.

DALLAS: So everybody -- anybody that is on -- listening right now. Can go to Weissratings.com. And see what their bank is rated. They don't have to do anything.

There is a search at the top. You get all the information.

You don't have to pay for it.

We do this. Just because we care about the everyday person.

And so you can go right now, and see what your bank is rated.

If your bank is rated red, there's a possibility, and I'm not going to say it's happening.

But if it's rated a D or an E.

There's a possibility, that even without a crisis, they could go under.

STU: So what do you do if you're in one of those banks?

Because I don't want people to panic or freak out, but I want them to be safe.

So what do you do if you're in one of those banks?

DALLAS: So right now, it's not an issue.

We do not have an issue. So we're not panicking. Nobody needs to panic. Nobody needs to go take their money out.

They need to be careful, right?

They need to see where their money is. See why -- because you can see right there, why the institution is -- and if it's a profit problem.

If it's a stability issue.

A lot of these -- a lot of these are really small banks. Right?

GLENN: Uh-huh.

DALLAS: And so what they need to do, is they're going to be covered.

Everything is covered. Credit unions are covered.

Banks are covered under the FDIC.

And if you're in one of these small banks. You're just going to be pushed into. Like we saw with the other banks failures that will happen.

Into the other banks that advice your assets.

Or it's taken over, until they can take them off the accounts.

So it's going to be seamless for them.

But, you know, it's -- it's -- we have them there.

Just so when people are looking to get into banks. Or looking to not have to deal with this. They know.

STU: They know.

Let me take a break. I want to ask you about Bitcoin.

I want to ask you about insurance.

But I also want to ask you about the bank big banks. Are any of the big banks in trouble? We'll go there in 60 seconds.

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(music)
Okay. Any of the big banks in trouble?

DALLAS: So I can't give you specifics right now, on individual banks.

GLENN: Okay.

DALLAS: I love to do it. But I have -- I have the overall information.

But normally, normally, I'm going to say this: A lot of the big banks, are highly rated for us.

Okay? Which means, they're -- they're a B. Or an A.

I'm looking at JPMorgan right now. They're an A-plus. They have some liquidity. They're a major bank.

And so they seem safe.

But the issue here is, it's not that they're in trouble or not.

It's a catalyst system. Like when we saw in 2008, it's a catalyst.

Like people end up holding back for other people.

GLENN: Correct.

DALLAS: On bad days. We have some interesting things happening shortly. Like, the commercial lending industry is going to go through a little bump in the road.

GLENN: Yeah. I don't think that's a little bump in the road.

DALLAS: Yeah.

GLENN: There's a lot of big commercial debt, especially in these giant cities.

Who is going to -- who is going to fund these things?

And then what kind of interest rate, is it going to be?

I mean, I just -- highway you are going to renew all this commercial debt?

DALLAS: Yeah. There's a lot of issues. Terms coming. There's a lot of issues with cap rates just getting annihilated.

And so we're -- we're going to see big discounts. We're going to see big discounts on commercial properties.

And the thing is, I was -- I was listening to a pundit the other day. Not to quote some of the others that I am listening to. But they were saying, they foresee -- there's so much cash out there.

And people are being hesitant about getting into these commercial deals.

They may not even get the foreclosure. They will just be bought on discount, to other investors. Because they haven't been wanting to jump in the last year. Because of the crazy interest rates.

GLENN: Wow.

DALLAS: And so. I don't know.

I can't forecast. I'm not an expert.

GLENN: Yeah. Right. Just your ratings -- so tell me do you rate Bitcoin? I've been concerned about Bitcoin.

DALLAS: We do rate Bitcoin.

GLENN: Because with everything that's going on with the Federal Reserve and the government, how do you rate Bitcoin?

DALLAS: So we have Bitcoin rated now as an A-minus.

GLENN: Okay.

DALLAS: So you have to understand, we individually rate each asset.

So because Bitcoin is an A-minus. Does not mean that it's better than Apple as an investment.

So we rate things within their own industry. And so we rate all cryptocurrencies, around cryptocurrencies.

We rate all banks, around just banks. We have individual algorithms for each one. So insurance is another one, we've been dealing with the mess in Florida.

Which you probably know about. With the insurance.

And we downgraded the -- the back stock insurance company

For the state of Florida. Because its citizens. Because it -- it's a mess over there.

They're losing money.

And, you know, it's another big hurricane season, just is damaging to the current state.

And right now, we've been currently working with the ledge a little bit.

To try to help them out. To fix this issue. But it's a large issue.

We're basing for it. We care about that.

GLENN: Dallas, thank you very much for coming on and being a voice of reason. And also of warning and not causing any panic from anybody.

But just sharing the information. I appreciate it. Thank you.

DALLAS: Yeah. No problem.

GLENN: Weissratings.com is where you can go. And you can see the ratings of your insurance companies, your banks, et cetera, et cetera. How stable are they.

Do not panic. Do not pull your money out of banks. I mean, if you have more than 250,000 in an account, split it up. But don't pull your money out of the bank.

It will be a self-fulfilling prophecy. Weiss. W-E-I-S-Sratings.com.

GOP & Fox News Are DEAD: Glenn Beck Reacts to 'WORST' Presidential Debate | Glenn TV | Ep 307

Were there ANY winners at the second GOP presidential debate hosted by Fox Business and Univision? Glenn calls it “the worst debate of my lifetime” and reveals who was the REAL loser. BlazeTV hosts Stu Burguiere, Steve Deace, and Pay Gray join with their raw reactions to candidates North Dakota Gov. Doug Burgum, former New Jersey Gov. Chris Christie, former U.N. Ambassador Nikki Haley, Florida Gov. Ron DeSantis, entrepreneur Vivek Ramaswamy, South Carolina Sen. Tim Scott, and former Vice President Mike Pence. All hosts agree the candidates failed to provide the conservative base with a real conversation, especially since many of the questions could have been asked by MSNBC. They also address the bizarre appearance of Fox moderator Dana Perino introducing Hillary Clinton at a recent Clinton Global Initiative Event. And what about the elephant NOT in the room? Was Donald Trump, who chose striking UAW workers over debating candidates, the only winner? With the leading GOP candidate facing 91 felony indictments, Steve Deace says, “This is how we do assassination in America today" and that it’s vital we choose a strong second-place nominee … FAST.

THESE are the parts of the government Glenn would LOVE to SHUT DOWN

The United States is once again on the verge of a government shutdown, but should Congress cave and pass a continuing resolution to spend a lot more money and save us all ... or do we not need saving? Glenn reviews what would actually happen under a government shutdown and which agencies we should probably shut down anyways. Maybe we need "15 Days to Slow the Spending."

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. So here's what we have to do this weekend, beginning tonight at midnight, if we don't sign the CR, and continuing resolution, which will give just a buttload of money. Just keep spending, exactly like you were spending last year, and no real accountability for any of it.

And we have to add some more for a war.

If we don't sign that by tonight, we have to shut the government down. Pat Gray is joining us.

What will you do as of 12:01, tonight.

PAT: Well, Stu gave me a suggestion. Because I was confused what I would do when I came in. What am I going to do? What was your suggestion that I should do? Now, this is in the eventuality, of a government shutdown.

GLENN: Okay. Are you well read enough, to give a recommendation?

STU: I mean, I would be concerned if I was going to be held to some legal standard.

GLENN: Right. Because you're not not an expert.

STU: I'm not an expert. But I was thinking you could continue living your life exactly the same way.

GLENN: Okay.

PAT: Oh. Well, that's weird. What about the catastrophe that is -- what about that?

STU: Yeah. You would -- in this particular scenario. It's a fictional scenario, at some level.

GLENN: Okay. You're not a doctor. I think this is dangerous.

STU: What were the things you were going to do?

PAT: Do those things.

STU: The things you weren't going to do, don't do those.

PAT: It's crazy talk.

GLENN: All right. Hang on a second. Here's what's going to happen. Here's what's going to happen, okay? This is from the O and B. The Office of Management & Budget.

And they have now released the contingency plan.

So here's what's going to happen.

Now, please don't panic.

But economic indicators like the Bureau of Labor Statistics, the jobs report could -- could be delayed. This month.

PAT: Don't say that.

GLENN: Yes.

The federal mediation and conciliation service, which is charged with promoting labor management cooperation.

PAT: They'll still have that, right?

GLENN: Well, yes. Yes.

PAT: Good.

GLENN: However, they would have to cut back in its -- they won't close. But they'll have to cut back in some of the things they do.

And this all amid the strike with the auto workers.

PAT: Oh, my gosh.

GLENN: What are the unions and the -- and the -- you know, the plants going to do? Without federal officials. They'll never be able to do anything.

PAT: No, they won't.

STU: And the thing is, we're so a used to high efficiency from the government. That when you lose that -- society --

PAT: It all goes sideways.

GLENN: Time to throw everyone a bone here, so you don't panic. The Federal Reserve activity will be unaffected. So they can still raise the interest rates on November 1st, no matter what happens.

PAT: Good.

STU: Great.

GLENN: The Federal Trade Commission, however, would stop the vast bulk of its competition and consumer protection investigation.

PAT: You can't be serious.

GLENN: I am serious.

They have -- the vast bulk of them, would just stop.

STU: So some of them would continue?

GLENN: Yes. Yes.

STU: But the vast bulk of them -- what percentage does that translate to?

GLENN: Don't know. Vast bulk.

This is from the O&B.

The Security and Exchange Commission, will not review or improve registrations from investment advisers, broker dealers, transfer agents, rating organizations. Investment companies. And municipal advisers.

They're not going to be able to -- if you try to register --

PAT: At the SECC.

GLENN: You won't -- you won't be able to do it.

STU: What is that? For a new fund? Or something? New rating. A two-week process probably?

PAT: What about the FDIC? Do you have information on the FDIC?

GLENN: No, they still do not have all of the -- they're scrambling for this information.

STU: They didn't see this coming.

GLENN: Now, again, to give you some good news.

The IRS has not released this plan for the potential shutdown. However, previous plans have said that the IRS would use funds from Joe Biden's Inflation Reduction Act.

STU: Oh, good.

GLENN: To keep employees paid and working.

PAT: Thank heaven.

GLENN: And the union representing the IRS workers are saying, new plans are being discussed, that would involve some furloughs. However, businesses and individuals, who requested that six-month extension for your tax return in April. You will still be required to file by April 16.

PAT: Well, of course, you would.

STU: Yeah. By what date? October 16th. I was going to say, I thought I had more time.

GLENN: Yeah. Emergency relief is going to be a problem. A shutdown would create increased risk, that FEMA, their relief funds, could be depleted.

So there's a risk, that their funds could be depleted. If large additional catastrophic disasters occur. During the shutdown.

STU: Now, of course, they would very easily pass funding for that almost immediately. But still, we should deny that that would happen.

We will deny that any of these people will get their money afterward.

We all know they will retroactively pay off all of this stuff anyway. It will be a vacation for many people.

PAT: They've already done that. For many people. So, yeah. Sure.

GLENN: For those of you concerned about, hey. What about my energy?

What about the environment?

This is what this Draconian shutdown is going to do.

PAT: Thank you, Republicans.

GLENN: The interior department, which does all of the designing for the Capitol building, and the interiors, and pick out the drapes.

Oh, no. Apparently, it doesn't do that. The department of interior, will retain limited discretion to use permits for energy projects on federal lands and waters, when user fees are attached.

So they'll -- they'll retain just limited discretion, to issue those permits. You know, for drilling, and things like that.

PAT: They don't have full discretion.

GLENN: No. Not during a shutdown.

PAT: During a shutdown. Oh, no.

GLENN: A funding lapse would paralyze -- to develop would require environmental analysis for all energy projects. Highways. And other infrastructure.

The EPA, may be able to continue some IRA-funded activities.

As well as other attempted works such as settlement-funded cleanup at some Superfund sites.

PAT: Let's hope that is the case.

GLENN: Now. The White House is warning, most EPA led inspections at hazardous waste sites, as well as drinking water at chemical facilities, it's got to stop.

PAT: Oh, wow.

GLENN: So your drinking water. Could go completely -- it will stop.

PAT: It will turn to mud this weekend.

GLENN: Well, by Sunday. Maybe Monday.

The Energy Information Administration, which publishes snapshots of the US oil inventory.

It will continue to collect and publish data on schedule. But they say, at least initially.

At least initially. Our nuke sites are going to be maintained. Nuclear Regulatory Commission, however, will stop all licensing of new nuclear facilities.

PAT: Oh, there's so many of those going up too.

Because, I mean, we did the last one in 1978. And bang.

GLENN: This is going to stop.

PAT: Well, there's no new ones.

GLENN: But it will stop.

STU: This was the week. This was the week it would happen.

PAT: And now, thanks to you, MAGA Republicans.

GLENN: Right. Now transportation and travel.

Travelers could face delays as air traffic controllers and transportation security administration officers.

PAT: That will continue.

GLENN: Will be working without pay.

PAT: But without pay.

GLENN: Yeah. So people will --

PAT: I mean, they really are not. They will be paid. Just maybe not time.

GLENN: Right. Which is a hassle.

PAT: It is a hassle. I won't deny that.

GLENN: It is a hassle. However, Amtrak, they will keep transporting those 12 passengers. They will just keep going.

PAT: Is Ange going to continue to tell stories, about how many miles Joe Biden has traveled on the train.

Will he be there? Even in death, as he was when he told the story to Joe Biden?

GLENN: I don't know.

Now, passport and Visas will still be issued.

PAT: I thought those would be delayed. But they're not going to?

GLENN: Efforts to defend the nation and conduct ongoing military operations, will continue.

PAT: Right.

STU: That's good.

GLENN: Burials and tours, at Arlington National Cemetery would continue.

STU: Did anybody doubt, they would stop burying the bodies.

They'll just pile up, until we open up the government.

GLENN: COVID-19, response research including vaccine and therapeutic development by the US government will continue.

PAT: Will continue.

GLENN: The National Institute of Health, might have to postpone clinical trials for diseases like cancer or Alzheimer's, according to the White House. So this may throw him from solving cancer.

We were so close to him coming through with his promise of curing cancer, but it's the damn Republicans.

STU: We can actually check that at any point. If you go to, HasJoeBidenCuredCancer.com.

GLENN: Can you check that real quick? We're really close.

STU: Has Joe Biden cured cancer?

No. Cancer still exists as of today.

GLENN: Food stamps for low income people. The disabled, and others could be delayed.

There's no excuse for that. There's no excuse for that.

That is just to trot out the downtrodden.

The people that just say, look at what's happening. If the IRS can stay open, food stamps can stay open. Social Security checks will be delivered. Applications for benefits processed. However, people will not be able to verify benefits or replace cards.

Most national parks will be closed. The Smithsonian and the National Gallery of Art may close.

PAT: Don't say that.

GLENN: Cemeteries. Monuments. Visitor centers. Worldwide housed under the American Battle Monuments submission, will close.

STU: So are they -- and you said the national parks will close.

That means that many of these open field areas, will -- will not be opened?

GLENN: Yeah. They will -- they will build some fences around those things.

STU: Are they -- we don't seem capable of building fences.

GLENN: They're closed.

But I will tell you, you know they're big on the blue.

They will just be -- I make sure you're out there.

And you enforce that law.

You have somebody coming into the national park.

We don't have bathrooms that are open.

No. What are they going to do, poop in the woods, what kind of animals do you think we are?

PAT: Well, we're animals that poop.

STU: Sometimes -- sometimes that works. At least for many, many centuries.

The Capitol Police will not get paid under this.

PAT: What!

STU: They will -- they will --

PAT: They're under assault again. Just as they were during the insurrection.

STU: By the same people. The extreme MAGA Republicans.

PAT: You're exactly right.

By the same people.

STU: Now they'll get their number later. But for now, they won't get paid.

Except, for them. Unlike thousands and thousands of other federal workers, they actually will still have to do a job.

Most of the federal workers that will get all their money and then not have to do their job for however long this takes.

Which is a terrible, terrible --

GLENN: Just -- I -- I am in. I am in.

I mean, I think we should take a vote, who wants to open it back up?

I think 15 days, to slow the curve of spending. Fifteen days. Let's just do that.

Let's meet again in 15 days. And see if we can open the government up.

STU: We probably --

GLENN: Well, we might. We might.

Fifteen days, to slow the curve of spending.

PAT: And then after that, 30 days are up. After 15, then the 30. We might need another 18 bucks after that.

GLENN: Well, I don't know -- I don't know if the government will survive that.

You know, it may not survive that. Of course, the American people did it for a year.

STU: Yeah, and they don't care about them surviving.

GLENN: No. Nobody really cared about them surviving.

STU: Can I also say too, we talk about these big government cuts that we should do. We think there are things to do, to make the government smaller, and more like it was supposed to be. You know, a limited government.

GLENN: Yeah. We're not talking about any of those, I want you to know.

STU: But maybe we are. You know, haven't they unintentionally identified all the cuts here. Haven't they just said, hey, whatever we're going to just stop doing, the unnecessary parts of the government that can just shut down.

GLENN: You mean those nonessential?

STU: Yeah. The nonessential stuff, we stop doing. And the essential stuff, we stop doing. And we'll go from there. We'll talk about, maybe we need to add this back in. Maybe we can get rid of this other thing.

But isn't that a good starting point? Whatever you say is nonessential, I promise you we should not be doing it.

GLENN: I'm not sure of that. I mean, you know, we're talking about --

STU: Really?

GLENN: Yeah.

We're talking about things like the interior department.

Just having limited discretion to issue permits.

STU: So there will be still issuing permits. But they will have limited vegetation.

Maybe we shouldn't be doing so much permitting. Maybe people should be able to do a lot of the things they want to do.

But if there are certain needs for certain permits. Then the limited permitting might just cover that.

GLENN: Well, you go ahead. While we're all drinking poison by next Wednesday.

Just from our tap, from our homes. While sludge, nuclear waste.

Syringes are pouring out from our kitchen sink.

PAT: So syringes might pour out of our taps?

GLENN: Yes. Yes.

STU: How do they get around the curves?

GLENN: Are you an expert?

STU: No.

GLENN: Are you a doctor?

STU: I'm not a doctor.

GLENN: I am. Let's move on. Very dangerous.

Keep going, Republicans. Keep going.

Do not buckle.

'Why won't ANYONE say THIS in a debate?!' The REAL problem with auto workers strike

The presidential candidates at the 2nd GOP debate were asked to comment on the United Auto Workers strike. But Glenn believes no one got it right. "I have no sympathy for the auto makers," Glenn says, after they got in bed with the federal government in 2008. Ever since then, they've all been pushing for electric vehicles. He also has no sympathy for the UAW, who was all for President Biden. The auto workers themselves, however, are getting hammered. Glenn breaks down the real reason the auto workers strike is concerning: it's a perfect example of how the economy is "in a death cycle." So, why won't anyone say this in a debate?

Transcript

Below is a rush transcript that may contain errors

GLENN: So here's the thing. I want to talk about one other thing they talked about last night. It really pissed me off.

Because nobody got it right. About the striking workers in Detroit.

And I know we have a new station in Detroit. Just hang on for a second.

I don't know if I will make friends or enemies. But just hear me out.

I have no sympathy, for the auto makers. The manufacturers.

Why? Because they got into bed with the federal government, in '08 with the bailout.

And they knew that they were never going to be able to extract themselves from it.

And they had to dump things, like the hydrogen car, which was way down the road.

It was much well-defined. There were already service stations. Shell was about to transform all of their service stations, and carry hydrogen.

But because all the green lovers. And Barack Obama. And he wanted an electric. Why would you want an electric. When you can make the energy here in America, hydrogen, 100 percent clean. Why would you want to go to a battery, that has all kinds of problems, environmentally speaking?

And you don't have the stuff to make them here in America. Why would you do that?

Well, they got into bed.

Congratulations, Chevy. You can start more fires than all the Boy Scouts in America can ever start.

So I have no sympathy for them.

I have no sympathy for the united auto worker's union.

Those guys went in deep.

For Joe Biden.

Now, they held out for a while. Because they didn't like his policies on green. But they eventually gave all their money. And all their support to Joe Biden.

And what did they get? What did they get?

Well, they got a hammer to the head for all of the workers.

But believe I me, there is a reason why these auto worker unions are doing this.

Because we're going into a global economy. Where we will unionize all countries, all across the world.

And guess who will get that extra income? The United Auto Workers.

And all the other -- why do you think Randi Weingarten was over in -- in Ukraine?

Because they're going to have united teachers foundations over in Ukraine.

That's how these unions are going to win.

How could they possibly win, when they are screwing their endorsement is screwing the auto workers. The auto workers. You know why they want so much money?

And they want now a four-day workweek, and everything else?

Because they know their jobs are gone. They know, it doesn't take that many people, that can be done here in America, to make an automobile, if it's all electric.

It takes fewer workers to do it. And a lot of it, the batteries and everything else, not going to be made here.

They'll be made here, like, you know.

Like American giant makes clothes here.

Okay. Well, there's one company, that you can -- but that's not 98 percent of the product, coming from America.

That's 1 percent of the product coming from America.

And they know it. And they know it.

But what does Joe Biden do?

Now, remember, we bailed out the auto industry, in '08. That's what got them into bed.

Now to get them, ford has lost $2 billion, this year alone.

All because of the EV.

So what does Joe Biden say? Joe Biden goes and says, they need this pay raise.

Well, I'm all for pay raises.

I'm for pay raises. Because everybody is losing money. Because of inflation.

But what causes inflation?

Inflation is caused by the government just printing more money.

Is what are they doing? They are printing money, so they can give the money to the big, you know, Ford and Chrysler and everybody else.

They can give these big bailouts to them. And they're subsidizing every car, if it's the car they want.

They're subsidizing every car. So that's what's causing your inflation.

Just that alone, is enough damage. But they're doing that on everything. Everything.

So I'm for them getting raises.

I'm good for them having a good life. Just like I'm for everybody having good health care and everything else.

But Joe Biden comes and says, yeah. You deserve that particular raise you're asking for. Which has what? It works out to like $135 an hour.

Or something like that.

The most expensive auto build is 60 or $65 an hour.

China is practically slave labor. Now, I'm not suggesting that, you know, we do slave labor.

And I'm not suggesting that we don't do $70 an hour.

It's expensive to live here in America. I get it. But you want to put the big three auto workers out of business? You start paying your auto workers, $135 an hour.

Which Joe Biden is for. They'll have money. But the money that it will pass the average person to buy the car, how much more will that add to the price tag?

So you do buy American cars, because they will be too expensive in America! And so what the government do? The government will make new incentives. And print more money. And try to offset that cost, so you will buy American.

You're in the death cycle.

You're in the death cycle, right now.

Why will no one say this, in a debate?

Why will no one actually talk about inflation?

And what is causing inflation? The price of your food is not going up. Okay?

You have to understand this.

The price of your food is not going up.

The value of your dollar is going down.

That's what's happening. Well, these people are getting rich off the backs of the American people.

No! It takes more dollars to buy the same thing. It's inflation. Everything the government is doing right now, is destroying our economy. Destroying our dollar. Destroying your ability to keep your head above water. And that is all Biden and this worthless bunch of economic geniuses. Who are doing things under different names, that have always failed.

Always failed.

We don't like to hear that last night.

We don't like to hear that. Instead of the placating of the unions. And then just blaming.

I'm sick of it. I'm sick of it.

Dad WARNS parents: 'Government TRANSITIONED my daughter'

Glenn recently exposed just how dire the battle for parental rights against tyrannical governments in America has become. You can watch this full episode of Glenn TV here: Parental Advisory: The EXPLICIT Plot ... But the situation is even worse in Canada. Glenn speaks with a father, who wished to remain anonymous, who has spent years battling his government over simple parental rights. Ultimately, he was "hauled in" for refusing to "affirm" his daughter's gender, something the government called "family violence." Then, he was thrown in prison for refusing to obey the government's attempt to silence him. But that didn't deter him. He joins Glenn to tell his story and warn American parents that this Leftist tyranny is coming for them as well: "The world needs to know what’s happening to their kids in darkness."

Transcript

Below is a rush transcript that may contain errors

GLENN: Just going to call you dad, on the program. Dad, how you are?

DAD: I'm good, how you are today?

GLENN: I'm good. Didn't expect you to sound this great. You have gone through hell for the last three or four years.

DAD: Yes.

GLENN: How did it start?

DAD: It started with my daughter in the public schools. They're -- they passed a program here called SOGI123. Stands for sexual orientation, gender identity.

And what that is, is it -- supposedly, they called it an anti-bullying program. But it's actually a policy. And what happens in the schools, they're essentially telling kids, you can be -- you know, you can be homosexual. You can be lesbian. You can be bisexual. All the letters of the alphabet of LGBT. And when my daughter went to school, it was when the pilot program was initiated.

And so she was indoctrinated among the first in his program. So that's kind of where it all started. So she had mental health issues. I knew that. But the school decided, we're going to direct her, towards being transgender. Because at that time, that's how they -- how they dealt with all mental health problems with children. Was just to transgender them.

GLENN: Jeez.

DAD: And the idea behind that. It sort of, to me, reminds me of a video game. Where you have avatars.

And these kids will sit there for hours, creating their perfect character. So now you have these adults, these perverted adults coming at your child and telling them, hey, if you're not happy being a girl, create your own -- whoever you want to be. Be an avatar. Forget about that sad girl. Become a boy.

Of course, this is a very -- alluring to them, right?

This will solve all their problems. That's where it all started in the schools.

Where I caught on, was fairly early on.

I didn't realize the extent of it all.

But at one point, you know, my daughter went to see a psychologist, who goes by the name Dr. IJ. These are publication names of all of these doctors. Because they're clearly so proud of what they do, that they're hiding behind confidential badges at this point. But I thought, you know, this is great. This person is going to fix this.

Clearly, my daughter is not a boy trapped in a girl's body. That's impossible.

But instead, he -- he went affirm. Affirm. Affirm.

And the next thing you know, my daughter is headed to the BC children's hospital here. In August of 2018.

And on her first visit. They will pump her full of testosterone.

I'm like, this is crazy.

My ex-wife gives me a call. I said, okay. I'll put a stop to it.

So they sent me what was called an Informed Consent Form. Which I find out later, it doesn't mean much.

Of course, my daughter was talking to -- my ex-wife signed it. I read it, and I refuse. It's talking about all the irreversible changes. You know, lowered voice. Increase growth of hair.

GLENN: Sterilization.

DAD: And sterilization.

And what this thing goes on to say, at the end, which is probably the whole thing, is that it says, the mental effects and safety of testosterone are actually not fully understood.

And there may be some risks that are not yet known.

It's in their consent form.

They're asking my daughter to consent to this stuff. Of course I said no.

So they have been asking for four or five months. So I finally get a letter in the mail, in December of 2018, and it's from the children's hospital. And they say, we don't need your consent. We're going to give her testosterone anyway, under something in British Columbia called the Infant Act. And you have two weeks to file in court.

GLENN: The Infant Act?

DAD: They call it the Infant Act in British Columbia.

GLENN: And wait. Wait. How old is your daughter at this time?

DAD: At this time, she's fourteen.

GLENN: Okay. This started when she was 11.

DAD: I would say around 11. Grade four and five.

GLENN: And she's not an infant now. I just want to make sure, she's not an infant.

DAD: No. Currently, she will turn 19 in October.

So that tells you how long I've been battling this. She's -- she's finally not going to be an infant and a minor soon.

But -- so, anyway, so I take it to court. Because I'm thinking. They will forget about the LGBTQ component of this.

You don't medically do something like this to a child, to a minor.

You know, I don't have feeling in my arm, so I will just have it cut off. Well, you don't let kids do this stuff. But, boy, did I have a wake-up call.

To find out what I was in the middle of.

And so, yeah. I filed, what they called a notice of motion. In BC provincial court in December of 2018, and it led to five years in the courts.

GLENN: And you went to prison, why?

DAD: Went to prison, as you mentioned. Yeah, that's sort of phase two of the story. The first part has to do with my actual battle to save my daughter from being a victim of all of this stuff. Of -- of the cross-sex hormones and the puberty blockers. And so what happened, in court, in January, the -- the judge said that, you know, for me to misgender my daughter, for example, was going to be considered family violence. All of these crazy things came out. I was not allowed to dissuade her from -- I can only affirm, affirm, affirm. Or that was family violence. So all of these rules were suddenly put on. Which pretty much eliminated my ability to parent her on this issue at all.

And so what I did, is -- I spoke with the Federalist after that ruling. And I said to the Federalist. I said, well, it's a delusion.

I'm going to keep calling my daughter a daughter if that's the reality. I don't care if the court is telling me to lie.

And so I was called in for family violence, under another judge. And then this is where they added all of the stuff, where I could be arrested again. There's a protection order on me, that says I could be arrested without warrant. Came up to the police.

And --

GLENN: For what? What do you mean? Arrested for warrant? For what?

DAD: Arrested if someone thought I was misgendering my daughter, or not affirming her.

So it was really kind of vague. It was really vague. And it showed you the power that the transgendered activists really had on this province. Probably in some sense, they still do. Although, things are changing, just like they are in the United States. That they could get away with something like this.

GLENN: Slowly.

DAD: Now, where the change kind of came in, and I should hit on this quickly.

The National Post, the big newspaper out here in January for this, when the court case was starting.

They put out a front page article on it.
You know, Who decides?

The parent, the doctor.

Now, the problem is, they tried to put my daughter on a pedestal. Because that had worked well for the transgender activist, to shame the father, but you do it publicly.

But the problem was, all the comments, at the end of the story, were supporting my position, and they were really going after the trends. And so this is when they thought, okay. New tactic.

We won't do it this more anymore. We will -- we will shut the story down.

They're not allowed to know what's going on. Because they will not end well for us. This will end -- and that's essentially, what they've tried to do.

GLENN: And so there was a gag order against you.

You would be sent to prison, if you violated the gag order. And spoke to any press member, or was it anybody, about what you were going through?

DAD: The honest truth, and this may sound super crazy. But my gag order actually said in it, that I could only speak to my two lawyers. Not even my parents or my family about this matter. Only my two lawyers. Said it's considered a privileged conversation over my daughter.

GLENN: This is insane. This is insane.

DAD: That's how bad it got. We appalled all of this. In the Court of Appeals. And we did go into the Court of Appeals, back in -- September of 2019. And we got a bit of a whiff. Five months later, and in that ruling, the BC Court of Appeals said, well, we're going to take away the protection order. We're going to make it a civil order. Instead of a criminal one.

And they also said, I do have the right to dissuade my daughter from being transgender. They said, we're taking away the affirmation model.

And they also said, yeah. Under the infant act, the parents don't get to decide, what their child wants to do. But neither does the child. Essentially what they said, it's on the shoulders of the doctors alone.

GLENN: Oh, my gosh.

DAD: So the doctors here in BC decide, whether your child transitions or not. The good news, when this contagion possibly comes to an end, which it will, there will be a lot of law cases, you know, a lot of girls being turned into boys that now have a right to sue that doctor, and say, hey, you know, why did you transition me? I didn't really know what I was talking about. And yet, you thought I was doing the right thing.

And this is the reason why I fight this so hard. Is because, you know, my daughter will never be able to come to me, personally. And say, hey, Dad. Why did you rush me down to the gender clinic?

And I'll say, I did. The opposite. I tried to save you from going to the gender clinically.

But you were rushed there from the government.

GLENN: Go ahead.

DAD: Keep in mind. In this case. It's not about parental rights at all. It's the government that transitioned my daughter. It has nothing to do with me or my ex-wife. What our positions were.

It was the government itself, which is different than what's happening in the US where they were handing off kids to the parent that will transition.

GLENN: All right.

DAD: That doesn't need to matter.

GLENN: Do you have any relationship with her now?

DAD: I don't right now. And I can tell you a bit what happened. This is a part of what they do over there on the far left. Is my daughter would sneak over to my place. And she would have to tell the -- the -- my ex-wife, her mom. That she was visiting friends at school.

And, of course, the lesbian activist lawyer Robert Finley attached as the lawyer for my daughter. And so what happened is my daughter at one point came and said to me, and said, Dad, I can't come over to see you anymore. And I asked her, why is that?

She said, well, they're giving me a choice. He said, if I keep seeing you, they won't fight for me to get microphones at his house.

So they said -- so essentially they bribed her. They said, pick your Dad, or pick -- becoming a boy.

And I haven't heard from her since. I guess she chose to become a boy. This is what they do with these kids. These vulnerable kids. Is they really gang up and bully on these kids.

And to get them to transition. And it's -- yeah. My daughter was a complete victim. But, again, this also destroys families. And I think that's also part of -- the intention. Is to destroy families as well. So to answer the question, I haven't seen her. Not since Christmas of 2019. The last time I saw her.

GLENN: Oh, my gosh.

Let me if I can just tell you, that amazing things happen over time.

My daughter went to Fordham University. And I was working in New York at the time. And they totally flipped her against me. I mean, totally flipped her against me.

I was a bigot, because I wouldn't agree with gay marriage. I had never been against gay marriage. I'm more of a Libertarian on this. I just don't think the government has any right to be in anybody's marriage, period.

And she was convinced because they held rallies against me and everything else, at her school.

DAD: Oh, wow.

GLENN: And I thought I had lost her forever. And after a while of getting out of school, and being, you know -- just being, you know, out from underneath thumb, she began to see things differently, and we're very close today.

So hopefully, it won't last forever. It will just be an agonizing time you lose with your daughter. And I'm sorry for that. Go ahead.

DAD: Yeah. And that's encouraging. Because, you know, that's -- I go through this with my conscience clean. And I hope that, you know, my arms are wide open, waiting for her to come back. After, you know, she's done whatever she's doing. Which is terrible. Which is terrible for herself.

But, you know, I'm waiting here for her. And I would like to think that at the end of the day, it will be those that affirmed her, she will resent. And she will appreciate what I tried to do for her. Even though I didn't succeed for her.

Obviously, I'm so thrilled, as what I'm seeing, as we are succeeding in countries around the world.

You know, in Europe, obviously the United States. How many states. And even in Canada. Our federal government. Or sorry, not government.

But, you know, they passed a resolution. One of them being that they will never allow anyone of the age of 18, to medically transition.

And so, so hopefully they do. They're up in the polls right now, people want this stuff.

But -- but anyways, I guess this goes to the second part of -- of my story in some ways.

I went through the first half pretty quickly.

But so -- so we had this ruling on the BC court of appeal.

And we're debating whether to appeal that to the Supreme Court of Canada.

In fact, we kind of worked on it.

And any time decided, well, we sort of got this, to see the doctors down the road.

Let's just leave it, because the -- the -- the -- the federal court, in Canada, is pretty loaded up with left-leaning judges. And so we thought, well, we probably would do better for a repeal going forward. So at that point, I fired my two lawyers. Not because of this. But because to protect them.

So I fired my two lawyers. Got them off the record. And I said, okay. Well, that's the end of the line, legally for the moment.

I'm going to protect them. And I'm going to break all these gag orders. You know, the world needs to know, what's happening to their kids in darkness in these schools.

You know, as an example, that came out in affidavits, when my daughter changed her name, from her female name to a male name, I was under the impression, that this was by her design. No. It was the school counselor, that changed her name.