RADIOMarch 15, 2022

FINANCIAL WARS: Will China OVERTAKE the US dollar worldwide?

Glenn explains that he has certain ‘trip wires’ — signs that it’s time to prepare him and his family for hardship — and one of those warnings may be presenting itself today. Russia recently asked China for economic assistance as Putin continues his invasion of Ukraine, leading us one step closer to world war. But, Glenn says, we are ALREADY in a world war — a financial one that centers entirely around currency. In this clip, he explains how China is positioning itself to take power away from the U.S. dollar. And, if successful, not only will America face inflation levels far worse than today but a potential collapse of the U.S. dollar as well…

Transcript

Below is a rush transcript that may contain errors

GLENN: Okay. There's a couple of things that are going on, that you should know about. First of all, Russia has bombarded a Ukrainian military range, near the Polish border, killing 35. Russia also requested military and economic assistance from China. This is according to the US. That's really good news.

That's really good news.

China and Russia are beginning to form their alliance. And in that alliance, North Korea, and Iran, and I believe eventually, Saudi Arabia.

And maybe -- maybe, if we're really lucky, India.

Pakistan will go that way. And you will have an axis and allied power.

I would bet that most of Africa goes their way as well.

So now, China has said, no, no, no. We -- Russia calling us for help. We don't even know what you're talking about.

Quote, we've never even heard of that. Uh-huh.

Also, this weekend, Iran launched 12 missiles.

And those 12 missiles landed all around a U.S. consulate. The good news is the consulate wasn't damaged. Nobody was killed.

They launched 12 ballistic missiles against our consulate.

And they said, hey. This is something to do with those -- those Jews.

Darn, those Jews. They sent their Mossad in. And they killed a couple of people of ours.

Okay. So what do we have to do with that?

Why are you bombing the streets around the consulate, not killing anyone?

I personally think, this is another test of the United States. Can we do this? While we're in nuclear negotiations with Iran. And will they still sit at the table. This is another test of our president. His resolve. And what he's willing to take.

So now, let me get to the -- let me get to the big news this weekend.

We are edging closer and closer to a world war.

And we're already in a world war, when it comes to the dollar.

This is really critical. This is one of those tripwires for me.

I have been trying to come up with tripwires of when I say to my family, okay.

All right.

Everybody in the car. You know, we're going underground. What are the tripwires that I'm looking for?

One of them is a spreading of this war. If this war starts to spread into other countries, that's a big tripwire for me, that says, we're now headed towards a world war -- a World War III.

And it's going to get serious. A serious attack on our power grid is another one.

And? A serious -- a serious attack on the U.S. dollar.

When you start to see China and Russia coming together, and putting together a -- an alternative to the petrodollar, you have a real problem.

Now, this might take me a while to explain this. But I want to -- I want to show you, where we've been, what the dollar -- why everybody has the world's reserve currency, as the U.S. dollar.

Bretton Woods. Then I want to tell you what happened this weekend. Because a major tripwire was crossed.

So the -- the -- the petrodollar is why we have our dollar. Our greenback. In the banks of almost every foreign country. In fact, I think every foreign country. If you want to buy oil, especially from OPEC, it must be purchased in U.S. dollars.

Why do you think Hillary Clinton said, we came, we saw. We killed him.

Remember that?

She was laughing about the death of Gadhafi. We were involved in that death, absolutely.

He was dragged in the streets by his own people. But we weakened him. Why did this happen?

Why did Gadhafi?

Why did the United States want Gadhafi out of there?

We were all saying, this is destabilizing the Middle East. What are you doing?

We did it, because he said, we're going to start taking euros for Libyan oil. Okay?

No, you're not. No, you're not. We have a deal with OPEC in Saudi Arabia.

You can sell oil. We'll provide you arms and everything else.

And we'll buy your oil, and we'll continue to buy your oil. But you only sell oil, in U.S. dollars. So that means, any time a country wants to buy oil, from OPEC, they have to take their dollar, buy U.S. dollars. Buy the oil, okay?

So you can't buy oil outside of a U.S. dollar. That's why everybody has the U.S. dollar.

It's oil makes the world go around.

It's not gold. It's oil.

So if somebody starts to come off our dollar, and starts buying oil, with something else other than the U.S. dollar, we usually kill them.

Or we isolate them. Or we depose them. We do something, so that doesn't happen.

Why?

Because if these countries, that hold all of these dollars, 80 percent of all printed money, is overseas. So if this -- the dollar, which is held in all of these central banks, and all of these banks, all over the world. If they start selling those dollars, and those treasuries. All of that money rushes back here to the United States.

What does that mean?

Well, if 80 percent of our money is being held in banks, and it starts to rush back here, it means, out of control inflation.

If you think inflation is bad, we're talking hyperinflation. It will mean a dollar collapse.

You just -- it won't be worth anything.

So we don't want to do anything that upsets the petrodollar thing.

Yet, what happens to the petrodollar, if we stop buying gas?

And oil?

And we tell the whole world, you have to be green? Hmm. Has anybody just thought of that?

Even if you care about the planet, and you think it's the most important thing, and people should eat rocks, and who cares if they live or die. You should care about the petrodollar.

Is anyone pegging it to something else?

Because we got off of gold. Now, one more thing you need to know the history of how we got here.

Bretton Woods happened right after -- it's a town in -- where is it?

New Hampshire, I think. Bretton Woods. The whole world got together after World War II, because we had all the gold.

Because Europe needed to get you will kinds of things, you know, armaments and tanks and everything else. They didn't have any money. So we were just like, you know what, send us your gold. Send us your gold, we'll send you the tanks. And airplanes, and everything else.

Just send us your gold. So we had all of the gold for the whole world in Fort Knox. That's why we said, we'll be the gold standard.

We'll never break the gold standard. You just take our money. You can buy oil with it.

It's the only currency you can buy oil with. And we're on the gold standard. 1972 comes along, and that's when Bretton Woods 2 happens. And that's when the United States says, by the way,, you know what, we want war and the great society, so we're coming off of the dollar standard. Or, the gold standard.

But we'll never, ever really abuse it. And here's the good news: We're going to become consumers. Right now, we've made refrigerators and televisions and cars and everything else, that the world is buying.

But now, because we want the war, and we want a great society. We're going to come off that. And we're going to now stop making those things. Ship our jobs overseas. And we'll buy your products.

So we'll become a consumer nation. And you'll be able to get rich. Just hang on to our dollar.

That's Bretton Woods two.

We are now approaching Bretton Woods three.

And the world will change as much as it did in World War II.

This is something that unless you lived through World War II, you have not seen anything like what is coming.

Here's what happened, over the week.

Well, let me take one minute. And then I'll come back and tell you what happened over the weekend. It's a tripwire, at least for me.

GLENN: Okay. There's a couple of things that are going on, that you should know about. First of all, Russia has bombarded a Ukrainian military range, near the Polish border, killing 35. Russia also requested military and economic assistance from China. This is according to the US. That's really good news.

That's really good news.

China and Russia are beginning to form their alliance. And in that alliance, North Korea, and Iran, and I believe eventually, Saudi Arabia.

And maybe -- maybe, if we're really lucky, India.

Pakistan will go that way. And you will have an axis and allied power.

I would bet that most of Africa goes their way as well.

So now, China has said, no, no, no. We -- Russia calling us for help. We don't even know what you're talking about.

Quote, we've never even heard of that. Uh-huh.

Also, this weekend, Iran launched 12 missiles.

And those 12 missiles landed all around a U.S. consulate. The good news is the consulate wasn't damaged. Nobody was killed.

They launched 12 ballistic missiles against our consulate.

And they said, hey. This is something to do with those -- those Jews.

Darn, those Jews. They sent their Mossad in. And they killed a couple of people of ours.

Okay. So what do we have to do with that?

Why are you bombing the streets around the consulate, not killing anyone?

I personally think, this is another test of the United States. Can we do this? While we're in nuclear negotiations with Iran. And will they still sit at the table. This is another test of our president. His resolve. And what he's willing to take.

So now, let me get to the -- let me get to the big news this weekend.

We are edging closer and closer to a world war.

And we're already in a world war, when it comes to the dollar.

This is really critical. This is one of those tripwires for me.

I have been trying to come up with tripwires of when I say to my family, okay.

All right.

Everybody in the car. You know, we're going underground. What are the tripwires that I'm looking for?

One of them is a spreading of this war. If this war starts to spread into other countries, that's a big tripwire for me, that says, we're now headed towards a world war -- a World War III.

And it's going to get serious. A serious attack on our power grid is another one.

And? A serious -- a serious attack on the U.S. dollar.

When you start to see China and Russia coming together, and putting together a -- an alternative to the petrodollar, you have a real problem.

Now, this might take me a while to explain this. But I want to -- I want to show you, where we've been, what the dollar -- why everybody has the world's reserve currency, as the U.S. dollar.

Bretton Woods. Then I want to tell you what happened this weekend. Because a major tripwire was crossed.

So the -- the -- the petrodollar is why we have our dollar. Our greenback. In the banks of almost every foreign country. In fact, I think every foreign country. If you want to buy oil, especially from OPEC, it must be purchased in U.S. dollars.

Why do you think Hillary Clinton said, we came, we saw. We killed him.

Remember that?

She was laughing about the death of Gadhafi. We were involved in that death, absolutely.

He was dragged in the streets by his own people. But we weakened him. Why did this happen?

Why did Gadhafi?

Why did the United States want Gadhafi out of there?

We were all saying, this is destabilizing the Middle East. What are you doing?

We did it, because he said, we're going to start taking euros for Libyan oil. Okay?

No, you're not. No, you're not. We have a deal with OPEC in Saudi Arabia.

You can sell oil. We'll provide you arms and everything else.

And we'll buy your oil, and we'll continue to buy your oil. But you only sell oil, in U.S. dollars. So that means, any time a country wants to buy oil, from OPEC, they have to take their dollar, buy U.S. dollars. Buy the oil, okay?

So you can't buy oil outside of a U.S. dollar. That's why everybody has the U.S. dollar.

It's oil makes the world go around.

It's not gold. It's oil.

So if somebody starts to come off our dollar, and starts buying oil, with something else other than the U.S. dollar, we usually kill them.

Or we isolate them. Or we depose them. We do something, so that doesn't happen.

Why?

Because if these countries, that hold all of these dollars, 80 percent of all printed money, is overseas. So if this -- the dollar, which is held in all of these central banks, and all of these banks, all over the world. If they start selling those dollars, and those treasuries. All of that money rushes back here to the United States.

What does that mean?

Well, if 80 percent of our money is being held in banks, and it starts to rush back here, it means, out of control inflation.

If you think inflation is bad, we're talking hyperinflation. It will mean a dollar collapse.

You just -- it won't be worth anything.

So we don't want to do anything that upsets the petrodollar thing.

Yet, what happens to the petrodollar, if we stop buying gas?

And oil?

And we tell the whole world, you have to be green? Hmm. Has anybody just thought of that?

Even if you care about the planet, and you think it's the most important thing, and people should eat rocks, and who cares if they live or die. You should care about the petrodollar.

Is anyone pegging it to something else?

Because we got off of gold. Now, one more thing you need to know the history of how we got here.

Bretton Woods happened right after -- it's a town in -- where is it?

New Hampshire, I think. Bretton Woods. The whole world got together after World War II, because we had all the gold.

Because Europe needed to get you will kinds of things, you know, armaments and tanks and everything else. They didn't have any money. So we were just like, you know what, send us your gold. Send us your gold, we'll send you the tanks. And airplanes, and everything else.

Just send us your gold. So we had all of the gold for the whole world in Fort Knox. That's why we said, we'll be the gold standard.

We'll never break the gold standard. You just take our money. You can buy oil with it.

It's the only currency you can buy oil with. And we're on the gold standard. 1972 comes along, and that's when Bretton Woods 2 happens. And that's when the United States says, by the way,, you know what, we want war and the great society, so we're coming off of the dollar standard. Or, the gold standard.

But we'll never, ever really abuse it. And here's the good news: We're going to become consumers. Right now, we've made refrigerators and televisions and cars and everything else, that the world is buying.

But now, because we want the war, and we want a great society. We're going to come off that. And we're going to now stop making those things. Ship our jobs overseas. And we'll buy your products.

So we'll become a consumer nation. And you'll be able to get rich. Just hang on to our dollar.

That's Bretton Woods two.

We are now approaching Bretton Woods three.

And the world will change as much as it did in World War II.

This is something that unless you lived through World War II, you have not seen anything like what is coming.

Here's what happened, over the week.

Well, let me take one minute. And then I'll come back and tell you what happened over the weekend. It's a tripwire, at least for me.

This Russian nuke warning is HORRIFIC… for an UNEXPECTED reason

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Operation Fast and Furious: The TRUE Story of How the Feds were Running Guns into Mexico

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Glenn Beck & Piers Morgan REACT to Trump's Iran Strike & What Comes Next

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Meet the pro-Intifada candidate NYC Democrats just elected

New York City Democrats just elected 33-year-old Zohran Mamdani, a "socialist Muslim", as the Party's candidate for mayor. But Glenn Beck argues that his radical beliefs are actually communist and Islamist.

Transcript

Below is a rush transcript that may contain errors

VOICE: Z10852. Something weird is going on. The World Trade Center is on fire.

VOICE: Seriously the top of the building. We're trying to get information.

VOICE: Top level of one of the --

VOICE: To unfold from New York City.

VOICE: A plane crashed just --

VOICE: My sister is in that believe. I hope she's okay. I have to come to New York.

VOICE: It's pandemonium.

VOICE: It's raining papers.

VOICE: Wait a minute! Stop just a second. Why are we -- why are we -- I've got breaking news. Breaking news, yesterday. New York City just elected as their mayoral candidate for the left. And the Democrats, a -- a Muslim radical, who is also a communist!

So, you know, it only took you 25 years. It only took you 25 years, New York, to go completely insane.

Somebody who is -- well, I mean, if I might quote Michael malice today. I am old enough to remember when New Yorkers endured 9/11 instead of voting for it.

But you've got a -- you've got a communist jihadist apologist now.

Who was -- you know, well, CAIR put $100,000 behind his bid for New York City mayor.

So you have somebody who is endorsed by CAIR. That's really good.

He also was somebody who said, you know, he was -- he was for the shooting of the United Health Care CEO.

Said he was looking forward to driving down magnum Joan avenue. I don't know. Sounds like supporting people in the streets. Maybe it's just me.

Then he also said that he was going to globalize the intifada, which I think that's -- maybe -- maybe that's just me.

I mean, what do I know?

Tim Miller who is a podcaster. Asked him a few weeks ago. Asked him about his pro Palestinian slogan. Globalized the intifada. And he said, for me, ultimately, what I hear in so many, is a desperate desire for equality and equal rights, in standing up for Palistinian human rights. Oh, is that what you hear, Mr. CAIR?

Really? Huh, that's interesting.

Right. So globalize the intifada.

I mean, I mean, sure, that's -- I mean well, let me go on.

Because I don't want to take him out of context.

He then delved into the semantics of the intifada, citing the United States Holocaust memorial museum's use of a word for a translation for uprising, in an Arabic version of an article, a museum published about the Warsaw ghetto.

Oh!

So this is just a comparison, about the -- the armed rebellion against the Nazis!

I don't know if that makes me feel better!

I mean, if we're globalizing that.

We're the Nazis in this scenario.

Because I don't think it's the Palestinians.

I certainly don't think it's anybody who is like, hey.

Global jihad. I don't think it's those guys.

Or the Nazis. Who are the Nazis in that?

And it seems, if that's what you mean, then it's not just a harmless kind of slogan about human rights. It is a call for violence on the streets.

Because I don't know if you know, that's what happened when the Jews had their uprising against the Nazis.

I'm just saying!

But, hey, hey, free Palestine.

Oh, that's not what that means, gang. That is not what that means, but don't worry about it. He's just going to be possibly the new mayor.

And that's great. By the way, the Columbia faculty members signed a letter defending Hamas.

They were also among the donors to his mayoral campaign.

So, you know, you don't have anything to worry about.

And his father, who used to work at Columbia. Do you know, Stu?

Is his Dad -- is he still a professor at Columbia University?

He said that -- this violent terror thing of Islam, is not a part of Islam. Now, I've read the Koran, and much of the hadith.

And I'm pretty sure the violence is a part of that. But no.

No. This is something entirely new.

And his father while at Columbia university, wanted everybody to know, that this is actually -- this is something that came out of America!

America is really responsible for this.

And, you know, it really started with the Reagan administration, you know, when he started -- when he started with his very religious terms, to finish the war against the evil empire.

So, you know, that's where -- that's where 9/11 came from.

Is what -- don't worry about it! Don't worry about it!

Because who am I? I'm clearly just -- am I an anti-Semite today, or am I an Islamophobic? I can't remember which one.

Oh, it's probably both. Anyway, Islamophobia. Let me just explain Islamophobia. I haven't even gotten to the Communist part of it. Which is really, really -- New York, you're in one for hell of a ride. Buckle up.

It will be a fun rollercoaster for you. My gosh, I've never been happier that I've been away are if New York.

Anyway, I just want I to know, there is Islam. And then there is Islamists. Now, an Islamist is somebody who really wants Sharia law.

That's political Islam!

That's not a faith. That's political Islam.

Now, let me make really -- something really clear. Criticizing Islamism, is not Islamophobia. Pointing out the dangers of, oh. I don't know.

Political Islam. The ideology that seeks to use the tools of democracy, ultimately to destroy democracy, is not an attack on Muslims.

No. Uh-uh.

You know why?

Because Muslims are often the first people in line.

The first victims of the ideology.

So let's draw a bright, bright line between Islam as a faith, millions of people can practice that faithfully and peacefully.

It's mostly peaceful, okay?

Then there's the Islamism.

Islamism is something entirely -- that's a political project.

A theocratic political -- oh. Left loves theocracies. They love it.

Of course, you never see a problem with it.

See it when an Islamist is touting it. Anyway, it's not about prayer. It's not about fasting. It's not about spiritual life.

It's all about power. It's about merging of mosque and state. It's about implementing Sharia, not as a personal code of conduct. But as a governing legal system.

And it's -- it's supremacy.

Absolutely. Faith.

Religion.

It's -- there's one thing that's supreme.

It's misogynistic.

Deeply intolerant of all kinds of things.

Descent. Secularism. Other faiths. Even competing interpretations from inside the faith itself.

It will behead them too.

So let's -- let's be honest here for a second.

You know, CAIR should be labeled an international terror organization.

In my opinion. In my opinion.

Oh, does that make me -- that makes me an Islamophobe. I'm sure. I'm sure they will start a campaign against me on being an Islamophobe.

Stand in line, guys. You've been doing it since 2001, okay?

I don't really care. And I don't think the American people. I think that record, all the grooves are worn-out on that one, okay?

This is not a religion we're talking about. When we're talking about Sharia law. And we're talking about globalize the intifada. What does that mean, actually, to globalize it?

Does that mean we now want to do what is happening to Israel? All over the world?

Has the Palestinian plight become our plight you now, as Americans?

That there has to be an intifada here!

Because it's the kind of the same. You know. It's kind of the same over, you know, with what the Palestinians are going through.

Well, it's very much like what the Jews went through with the Nazis.

That's a weird one. That one makes my head hurt. It's very much the same as that. And very much the same as the fight against Donald Trump.

Oh, this is going to be fun. It's fun!

Really fun. You know, the irony here is, the ones that will scream Islamophobia the most, are the ones in the progressive left, the champions of feminism, LGBTQ rights. And secularism.

They're going to -- no. You want -- they're going to stand with the people, who want to kill them first.

See, this is how smart they are!

This is why it's going to work out well, in New York City.

Let me just say. If you have an ounce of common sense, you run a business, you have an ounce of wealth. And I don't mean wealth like, you know, hey, Lovey.

Let's get on the boat for a three-hour tour with a suitcase full of cash. I mean you saved anything, anything, get the hell out of New York City.

I mean, this is about survival. This is about free speech. This is about women's rights.
Religious pluralism. Secular legal systems. Liberal democracy.

But it's also about failed principles of Communism. Okay?

First, you have to call out political Islam for what it is. Okay?

And we have to do it with the clarity that we call out white nationalism.

Got to do it with that. Got to -- you know, the Klan. Really bad people.

Really bad people.

Anybody who is shouting for globalized intifada?

Pretty bad. Pretty bad people.

Okay?

Now, let's get to communism.

Because that's another cool, cool angle of the new Democratic candidate for -- for mayor of New York City.

That I just -- I think is cuddly and cute. Sure, it led to 100 million deaths. But this time, New York is going to be radically different. Oh, did I use the word radical?

I didn't mean to use that. What's radical about this guy?

Nothing. He's just like you!

Well, not exactly.

But let's talk about communism, next!

Now, the new mayoral candidate that's running there in New York City. That so many young people rushed to defend and vote for. He's promising free buses.

That's going to work out.

Where are you going to get the money for free buses.

It's free!

City-run grocery stores.

Oh, rent freezes. And finally somebody has done it. A 30-dollar minimum wage.

So under the banner of equity. And, you know, we will tax the wealthy. And the corporations. You know, we're going to squeeze another $10 billion out of them.

Really?

Because they're going to call a U-Haul.

You know, they will call something like U-Haul. There will be a lot of -- there will be a lot of movers that are like, how do I get the truck back from Texas or Florida back up to New York? Nobody is moving up there.

But he's going to do it.

Now, his vision isn't really new. You know, just -- just tax people, so we could have city-run grocery stores. You know, I remember -- I'm old enough to remember those city-run grocery stores in Moscow.

They were great.

The shelves were empty.

But that's just Moscow.

It worked out completely different in Venezuela.

Where, oh, no.

It didn't. That's right. The grocery store.

They were eating the zoo animals.

But it will be different in New York.

Because they have rent controls too.

And that will just choke the housing supply, but don't worry. As a young family.

You know, you voted for it.

You know better.

It will work this time.

So, you know, I like building ideas, I just don't like usually building on the graves of 100 million people.

But, you know, why not? Why not?

You know, use this dogma.

And this time, it will be different. It's not like it was in China. Where the great leap forward, was a gross -- a gross parody of progress. Venezuela, which was oil rich. One of the richest nations in the hemisphere now sees 90 percent of its population in poverty!

Yeah. Darn it. You know what they did?

They decided to take state control of things.

You know, like grocery stores. And it worked out well. How is that free busing working out in Venezuela?

I just want to -- I just want to know.

Anyway, then you've got the globalize the intifada. Which is going to drop a little violence in, and anti-Semitism in with your communism.

Which is weird!

Because violence and anti-Semitism, always happen. When it -- when it comes to -- when it comes to communism.

This is weird!

I've got to play something for you. Because this has talked about on me earlier this morning.

Oh, wow.

Wait a minute. This is -- this is the whole coalition coming together here.

So this is going to be good. New York, this is going to be great.

It's going to be great for you.

No. He's going to uplift you. Then the social fabric of New York City is just going to be -- just one.

It's going to be fantastic. Don't worry about your 120 billion dollars in debt. Or your 10 billion-dollar deficit that you have right now.

You are going to charge the rich more taxes, and they will stay right there.

They will be like, you know what, that 46 percent in taxes that I'm paying, this is just not enough. It's just not enough.

I need to pay 60 or 70 percent to be able to pay my fair share. So that's good. That's good. That's good.

You know, they're not risking 100 million people. It's just 8 million people.

This time, it's just 8 million people.

But, hey. For those of you in upstate New York. That aren't going to be part of this experiment.

Don't worry, you get to pay for it. Because they'll kick it up to the state. The state will have to subsidize everything. And don't you love it?

Really, don't you want to subsidize the really crazy ideas of New York City?

I mean, why don't you have a -- why don't you have a democratic socialist. A/k/a communist mayor.

Why haven't you done that? Are you not progressive enough? Are you not looking into the future?

Are you stuck in the past?

I don't know. I don't know. The graveyard is pretty big. I have a hard time getting past that one. You know, yeah, so I'm stuck in the past. Because I can't seem to pass that graveyard, and get to be down the path with you. But it's going to be a paradise.

Forget arithmetic. You know, or human nature. This time, it's going to work. It's going to work. So all right!

Wish I lived in this morning.

No wait. Nope. I don't. Nope, I don't.

And Ted Cruz, stop it. Stop writing, hey, come to Texas. No. No. Don't come to Texas. Don't come to Florida. Go to California. It's beautiful this time of year. Go there. Go there.