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EXPLAINED: Sanctions against Russia, SWIFT, & how to prepare

What is SWIFT, and why did Europe NOT ban Russia from using it? Are Biden’s sanctions against Putin truly ‘severe,’ like he claims? And how should YOU prepare for possible energy price increases, cyberattacks, or more? Carol Roth, author of ‘The War On Small Business,’ joins Glenn to answer all your questions about the current situation in Russia & Ukraine.

Transcript

Below is a rush transcript that may contain errors

GLENN: This is the Glenn Beck Program. Russia claims to have destroyed 74 Ukrainian facilities, 11 airbases. We don't know what their ultimate plans are at this point.

Biden is moving -- may move additional U.S. troops further east in Europe. It looks like the sanctions -- if this is true -- Stu, can you read that story that you just told me about? The swift banking procedures.

STU: Yeah, the European Union is saying they are unlikely, at this stage, to take steps to cut Russia from the swift global interbank system.

GLENN: That's insanity. If you're going to -- if you're going to cut them off. You have to cut them off at the knees right now. You know, if you give him time. I mean, there should be -- if the sanctions are serious. Otherwise, don't do them.

But if they're serious, you cut him off, from selling any oil or gas, anywhere in the West. Don't let anybody fly from Russia, into the west.
Don't let him do any banking. I mean, the entire country, sorry. Frozen.

That's -- that's -- those are sanctions. Everything else is a joke.

We have Representative Mark Green on with us. He's from Tennessee. Congressman, how are you, sir?

MARK: Glenn, I'm great. And thank you for having me on your show. Real honor.

GLENN: Sure. I know we're going to talk about something we were going to introduce on Monday. But I wanted to first pick your brain about Ukraine, and what we should be doing, and what do you think this means?

MARK: We're in a totally new era now. This is an invasion of a western-style democracy, by a totalitarian dictator. And I agree with you, what you've just said. The swift banking transactions. You -- we can't do this, half measures.

I mean, that's what got us -- this is what got us where we are.

And so it's -- I think -- I think we need to -- we need to crush their energy economy.
We need to crush the ruble. Their currency.
They cannot ever think of doing this again.

GLENN: You know, Biden said, that he's going to have sanctions on him. Beyond his wildest expectations. Or some, you know, hyperbolic statement like that.

And it reminds me of the full force and power of the United States.

When we said that in Iraq.

And I remember watching it, going, that's the full force of the United States?

No, it's not. It was good.

But that's not the full force of the United States.

I don't. I mean, if he doesn't come out with real sanctions today, we have even less credibility than we had earlier.

MARK: Absolutely. If he doesn't do those banking sanctions, what he's doing is sanctioning what Vladimir Putin has done.

Because the next step will be disinformation campaigns, and saboteurs in Georgia, the Baltics. This guy is bent on destroying the West. He wants to do to the West what happened to the Soviet Union.

And he's -- this is his next move in a bigger plan.

GLENN: I look at what happened in Canada, with the truckers.

And how fast they can move to shut people off.

And I am -- you know, Vladimir Putin said a few years ago, that World War III, which he claimed at the time, we were already in. The West just didn't know. It he said, World War III will be fought with ones and zeros.

If we do put sanction on him today, that make his life uncomfortable, you know, I believe we could see financial sectors hit by hackers. Energy sectors hit here in the United States.

And it makes me very nervous, that that would be something our government would say, we need to crack down on everything online, and take control of it. Just to protect you.

That seems -- it seems too easy.

MARK: Well, we certainly have authoritarians in control in the US now. With this president, and the Democrats in certain states. You just look at the covid response, and the woke cancel culture.

And, you know, it's -- it's not a far reach, to -- to think that they would do something like that. But I anticipate -- and I think you're right.

There will be cyber attacks, on the US. There already have been. The pipeline shutdown was -- was clearly --

GLENN: Correct.

MARK: Criminal elements. They say, criminal elements inside Russia.

GLENN: Uh-huh. Okay.

MARK: Yeah. That's right.

GLENN: Yeah. China came out last night, and there was a leaked report, which leaks don't happen in China. But there was a leaked report from the media that said, the media needs to support Russia. Because we're going to need Russia's support. When we deal with America.
On Taiwan. How concerned are you, with the relationship, between China and Russia?

MARK: Well, I'm very concerned, that this axis is forming between Iran, Russia, and China. And, you know, as -- if you look at history, and I know you are a lover of history.

But if you go back to the end of the 30-year war. We created this sort of world order concept. And what began was the polarity cycle. Where, after a great war, there's exhaustion. There's some kind of treaty. And there's multi-polarity, countries are treated equally.

And then over time, balance of power. Politics takes over. Some countries can afford that. Some can't. So there's alignment.

And eventually the world, the region aligns into this bipolar state. And then massive war usually follows. And this has been my concern, I've been echoing this for years. That we have to be careful.

I genuinely believe that's why Biden and his administration don't want to do the swift transactions. They think it pushes Russia further into China's arms.

But I would submit, I think they're already there. They're strategically cooperating to basically pin us.
And so I -- I -- that's why I think devastating action needs to happen.

And perhaps, as Xi Jinping watches that, he'll take note.

GLENN: We have sold our soul to the devil. With China.

And this is something you're going to introduce on -- on Monday. But people don't have any idea how -- what the influence, that we're already getting in television and movies, how China is truly influencing everything.
Can you talk a little bit about the screen act?

MARK: Yeah. Absolutely. And, of course, thank you for having me on, to talk about this. Americans are aware of what's happening with the NBA. With the suppression. Force.

I mean, they took that one player from the Celtics off. I mean, he's basically not playing basketball anymore.

They have canceled other people from making statements. So they've -- everybody knows about the NBA kowtowing to China.

What a lot of people aren't aware of is that our movies are part of China's disinformation campaign in the U.S.

And they -- you take movies like Sky Fall. And Mission Impossible 3. They actually changed the script of the movie, to be more positive towards China. And it's just example after example, Dr. Strange was supposed to be in the script from Tibet. But, of course, the Chinese don't want anything talked about the suppression or oppression that's happening there. So the movie script was changed, and the guy was Celtic.

So this stuff is going on in America, to Hollywood. And they're doing the same things.

Now, there are some actors speaking up. You take a guy like Richard Gere, who stepped up, and said this is going on.

But it's really unacceptable.

I've written this bill. Go ahead.

GLENN: I was just going to say, he has paid a heavy, heavy price.

He's outspoken on the evils of China. And, you know, the peacefulness of Tibet and what's going on. And he's paid a heavy price. It's why his career was lost all of a sudden.

MARK: Yeah. They are canceling people who speak out on this. There was actually a Beijing-born director, producer, who came to America. Made some great movies.

But then they found something that she said, back eight years ago, where she said, the Chinese Communist Party are a bunch of liars. And there's nothing in China, but lies. And she immediately got silenced.

So it's massive.

GLENN: Wow.

MARK: And what we're doing is basically saying. If you take American dollars.

And the State Department. And DOD, oftentimes support movies being made.

So if you're taking taxpayer dollars. You cannot alter that movie, to meet China's demands.

And if you do, we're taking that money back.

GLENN: What -- help me out here.
Why are we -- why is the government supporting movies? And funding movies to be made?

MARK: Well, if you think about it from the DOD's perspective. If they, for example, loan a helicopter, for a military newbie, it serves to recruit people into the military.

So it's somewhat of a recruitment budget. Then from the State Department's standpoint, it's tourism.

GLENN: Okay. Okay.

All right. Well, I -- I -- I mean, I can see it from the DOD. I don't know about the State Department.

But okay. And you -- what are you expecting?

I mean, is our government not in the pocket of China?

MARK: Well, very clearly, the Democrats do not want to criticize China. I tried to put this as an amendment to the National Defense Authorization Act, and it got voted down in the Armed Services Committee.

So the Democrats don't want to talk about this. We'll launch this bill next week. We'll make a big -- get the press out there.

Try to educate Americans. It probably won't see the light of day in committee.

But we'll get people talking about it. We'll get other Republicans to sign on to the bill. Maybe a Democrat or two. There are a couple of reasonable ones out there.

I was impressed by what (inaudible) said about Obama and Ukraine. That was a great comment from him. The real weakness in America, started with Obama.

So there are a couple out there. We'll get them on. We'll get the word out about it. Then when we take control of the house and the ball, we have to deliver for the American people on this issue and so many others. And we're going to. So that's the next battle.

GLENN: I have one minute left. I have to ask you: Are we -- are we going to war?

Do you foresee going to war? In Ukraine? And Europe, with this.

MARK: Not immediately. Because, one, we're not going to send troops there. We will send military aid to them. And we will continue to do that. Putin won't push beyond Ukraine now.

He'll get in there. Get a puppet government set up. And slowly start his disinformation capable, in the next country. So it's not something that will happen tonight. But we are at war with them, in a sense. You think of military, kinetic war. But there's also informational war. Diplomatic war. Economic war. All those other phases are ongoing now.

GLENN: Okay. Thank you so much, Congressman.

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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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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