RADIOOctober 17, 2022

Glenn: Economy is like the TITANIC. Time to get on a lifeboat.

Glenn says our economy today is like the Titanic — saving it before massive destruction is done might not be an option any longer. And, unfortunately, financial expert and author of ‘The War On Small Business,’ Carol Roth, agrees. She tells Glenn what SHE would do differently if she was running the Federal Reserve: ’I [would] slow the Titanic down so we can get people into the lifeboats.’

Transcript

Below is a rush transcript that may contain errors

GLENN: Carol Roth is in town. We have a -- kind of a financial kind of meeting. Or something today.

And you're in town for that. And welcome as always, Carol.

CAROL: Thanks, it's fun to be in studio, with you.

GLENN: So, Carol, I just said to Senator Johnson from Wisconsin.

That I feel like we're on the Titanic, and now we've hit the iceberg at full speed. And I'm looking for a band to stop playing so people can go, oh, wait. What just happened? And it's time to get into the lifeboats. Because this thing -- we have to save what we can. And the people we can. Because we're going to have a lot of rebuilding to do.

CAROL: Yeah. And it's the people who put us on course to hit the iceberg.

GLENN: Wait. Wait. You don't agree with my analogy, do you?

CAROL: No. I do agree. I'm very, very sorry. I know, you want me to tell you that everything is going to be okay.

GLENN: Yeah. Blame the iceberg, we haven't --

CAROL: We'll be on a mega yacht, instead of the Titanic. But it's just not the case. It is these people who said, no. That iceberg is not there. No. We can totally maneuver our way around it. These are the people who say, no, no, no. Yeah. So it was there. And maybe we hit it.

But, you know, that was some other reason. It wasn't actually there when we saw it. But now we've got all these great ideas on how to fix the economy.

GLENN: Oh, my gosh. And none of them are good ideas. Let me ask you this. Let's say you're the head of the Treasury. Or head of the fed.

CAROL: Lord, help everyone. But yes.

GLENN: I think we would be better off.

CAROL: Oh, you would be. You would be.

GLENN: Even if it was just me. It would be like --

CAROL: Some guy off the street.

GLENN: Anybody off the street. You, I don't know what your name is, you're now the head of the fed.

If you were the head of the fed, this is the iceberg part, how do you stop this from going down?

Aren't -- because you have to raise interest rates, traditionally, to pull money back in. But these interest rates would have to be 30 percent easy. Don't you agree, to pull this kind of money back in? We were at 20 at Jimmy Carter.

CAROL: Yeah, we'll get to that in a second. First of all, if I were fed chair, I would blow up the fed powers. And say, we're going to put myself out of a job, at some point in time. But in terms of the problem at hand --

GLENN: So wait. Wait. Let me get this. So the audience understands. To suck -- inflation goes down, when you suck money back out of the system.

That's the theory. And that's the way it always works. Hang on. I know what you're thinking. And the other problem is, you can only make interest rates, go so high, before it sucks the money out, that is needed to run the economy.

So a half the country is saying, we have to our interest rates. Other half of the country, is saying, no. We have to lower the interest rates. I don't know what to do. Except just freeze.

CAROL: So let me put this in layman's terms. You're talking about this battle between inflation and putting us into a very deep recession. Not that we're not already in a recession. Which some of the people like to pretend that we're not. But a very deep recession. And some of those things are at odds with each other.

GLENN: Borderline depression. I mean depression is really kind of defined by the unemployment being very, very high. Over 25 percent.

CAROL: And duration. The length of -- how deep and how long this goes. But there's another factor in here, which is because we are the world's reserve currency, it's something called the Triffin dilemma. So not only are we domestically at odds, inflation versus recession.

But on a global -- from a global standpoint, you're at odds. Do you make decisions for the benefit of the US? Which I'm not sure that we can. But let's just pretend that maybe we can.

Or for the world. Because the world is on the precipice of a massive global recession, that could do cause all kinds of very reverberations here.

So this is the massive puzzle that the central planners, again, have created. Because they thought, okay. We can figure this out. But they don't realize, they're not smart enough to figure out all these parts. So as fed chair, I need to slow the Titanic down, so we can get people -- we talked about online, into the lifeboats, versus not crashing into the iceberg. Because that's not possible at this point in time.

GLENN: It's not possible to save the Titanic?

CAROL: I personally don't think that's possible. Everybody is like, oh, there's a very narrow path. The path is as narrow as one of my hairs. There's no narrow path, so let's just be honest about it.

GLENN: Right. The time to do something was really before 2008. Once we went down the path of bailing everybody out, this is the inevitable outcome. And everybody at the fed and all the experts and all the banking people, said, no, no, no. You don't understand. And I kept saying to them, hmm. I do understand. I don't think you're either telling the truth to yourself, or you're -- you're -- or you're just a crazy man. Because they're -- you can't do this, at the numbers that we're doing it.

CAROL: Yeah. And the thing is, that not only have they not done what they did then. They shouldn't have kept in place, for as long as they have. And they shouldn't have doubled down. That's the problem. Is we keep having these opportunities. Yes, we've made mistakes, and we're going to change course. But instead, everyone goes, no, I think this is fine. We're going to continue to march down. Or I'm not seeing the problem in the way that other people are anticipating it. So since you're not recognizing it, we have some more room to just continue on, until they wake up, and realize, it's a problem. Once you wake up and realize that the problem is there, then it becomes too late. And we're in the situation that we're in today.

GLENN: So Monday, I did a monologue on Credit Suisse, and I said, you're going to see in two years. Because the fed doesn't have to tell you anything in two years. But I guarantee you, we're sending over our money over to Credit Suisse right now, to do basically what we did in 2008. Save the baggage that's too big to fail. Well, I don't know why they released this information. But last night, I'm reading, we sent three -- billion? How much did we say?

CAROL: I don't know, but I doubt it was 3 trillion.

GLENN: Yeah. I'll look that up. Could you look that up?

STU: 3 trillion --

CAROL: That would be bad.

GLENN: It's a staggering -- it's a staggering amount.

CAROL: Let me tell you why they did that: Is because the Suisse National Bank said that Credit Suisse is a systemically important bank. So, of course, they are too big to fail. You know, we can't bail out the little guys. We have to make sure the big cronies are taken care of. So, of course, somebody was going to come to the rescue. And when you say somebody, it's always the US. And it's not the US. It's you and you and you. It's literally us because it's our money, or the printing money, which devalues our money.

GLENN: So isn't Europe now in the place, or soon to be in the place that we were at in 2008?

CAROL: So it's for a different reason.

GLENN: Right. Right. Right. Right.

CAROL: But, again, this goes back to the fed. So let's tie this back in a little bow. Because we have a dollar that is strong against other currencies. It's not strong when you go to the grocery store.

But it's strong against these other currencies out there. I like to call it the skinniest kid at fat camp.

It's not great, but it's the best out of all of them. And because of the energy situation, that they've all created.

They're dependent on importing energy. Energy, and to some extent, food is priced in dollars, which means that these countries need to access dollars in order to pay for these things. So they only have so many choices.

It means they either continue to devalue their currency. They're going too have to spend more and more of their currency to buy dollars. Or they sell dollar denominated assets like treasuries, in order to get the dollars to pay. So this is a vicious cycle, when they do that. Then the yields go up. The dollar strengthens, and we end up in this crazy cycle again. And this is why it's so complicated, the fed's decision isn't just inflation versus, you know, a deeper recession here in the US. It's literally, potentially creating a global currency crisis. It's potentially creating a liquidity in the Treasury market, and a crisis there. It's potentially, you know, all risk assets, could end up just, you know, being sold in a massive fire sale. I mean, they have to think through all of those implications. And that's why, if I were fed chair right now, where we started this, I would have to pause. Because I don't think that the fed has the tools to combat inflation since their supply-generated anyway. They can't print oil. They can't print labor. They don't have the tools. So all they can do is crash demand, and if they do, they take the whole world down with them.

GLENN: Okay. Well, I think I'm going home now. All right. More in just a second with Carol Roth. By the way, you can get her newsletter and the things that she writes, at Blaze. TheBlaze.com. You'll see a lot of her articles. And at your website, as well.

CarolRoth.com/Glenn. Right?

CAROL: That's actually a new project coming up that you know about. They can sign up to find out about that there. It will help them battle their way back with wealth. So CarolRoth.com/Glenn.

GLENN: So you're going to announce that today?

CAROL: I'm not announcing it. But if they get on that mailing list, they'll be the first one to know.

GLENN: This is a really good thing. All right.

Let me tell you about gold. I actually saw a guy who was traditionally against holding gold. And I don't remember who it was. It was a guy traditionally against it. And he said, now it's really the time. Now is the time. Because all assets, all assets are going to go way down. He predicted. Way down. And even if gold goes dune. It will be like the skinniest kid at fat camp. You know what I mean? And he said, eventually, gold always resets everything. Do you agree with that?

CAROL: Yeah. We can talk about this more. But if you think about what we just said, the fed eventually having to go back to continue printing. The central banks going back to printing. Like we're seeing in the Bank of England. You know, this is a long-term trend. You saw something out of Saudi Arabia. That they're opening a gold refinery. There's a reason for that. So just in terms of the tenor of the global economy, U.S. dollar's reserve currency, and all these machinations going on with it. You know, the one thing that everybody can kind of agree on is gold.

GLENN: You know, it's amazing too, because if you think the government can say, we're just making a different dollar. We're just making a digital dollar. It's going to be completely different. At that point, no one is going to have any credibility. You're going to have to show me what's that worth. Show it to me. There will be no faith in the good name and credit of the United States. Anyway, I want you to call Goldline right now.

They've got a a really good special outgoing. The legal tender bar. This is goodly pieces, I actually helped design this. And they had it made by the Canadian mint. It is little, teeny gold bars that are spendable if you will. You can keep it in your wallet, and you can get wherever you needed to do with those. And it's much more reasonable to use.

Also, if you do this. You can get a free Benjamin Franklin copper round. Free silver mind your business bar. And a free silver Mapleflex bar, which is exactly like the gold bar. That I was telling you about a minute ago. Inventory on these. They sell out quickly. Don't wait. Call 866GOLDLINE. 866GOLDLINE or goldline.com. Ten-second station ID.
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Can you explain one thing?

I saw an article out of Europe. And it said that because there are no investors. Because of ESG.

CAROL: Right.

GLENN: There's no investors in exploring for oil. Et cetera, et cetera.

And the fact that we are headed towards price destruction.

Meaning, nobody can afford to do anything.

So nobody is going to be using gas.

And you're going to be staying home. So the price of gas, is going to fall through the floor, they think. Then the banks will have. Or any investors will have a call, on their investment. And they won't have the money, to be able to do it. So a they're stuck in this same kind of trap. Where it's this vicious circle. Is that true? Is that right?

CAROL: So there is a case to be made, that, you know, as we -- kind of go into a global recession.

Like a very deep global recession that there will be demand destruction.

But you have to remember, that we just had OPEC plus, decide to cut production to a million barrels per day. So -- and, you know, China is still kind of getting back and running. You know, in terms of capacity. So I don't think that oil and gas are going to go back up to the levels that, you know, perhaps we saw earlier this year. But the idea that it's all going to come crashing down. Yes.

Europe is stockpiled on gas. But it's a three-month stockpile. Like, what happens after that? This issue that we have with energy. This isn't like a month-long, or winter long issue. And all of a sudden, we're going to come out the other side, and everything is going to be roses.

There's massive underinvestment that will affect us for years.

GLENN: So it's not just that you can turn this spigot back on. You know, I know, when you think of these big oil rigs, that are out in the middle of the gulf. Those things are made here. A lot of them.

But they have specialized parts that like, one company makes. Those things are on leases for ten years, at least.

So if it pulls up here, and goes some other place, South America. That's leased. And you don't just build an oil rig like that, overnight.

We're talking years of restarting.

CAROL: This sounds really familiar. It sounds like in 2020, when a bunch of people said, wait. You can't just turn on a third of the economy. And turn it back on whenever you want. And there's going to be absolutely no dislocation. Huh. That's weird. It's the same thing here. You're losing -- the parts manufacture. You're losing, in the case of nuclear -- knowledge base. You know, specialized expertise. You cannot just flip the switch back on. And there's no meaningful, sort of rush towards investment. Because all these companies believe that, you know, whoever the next regime is, even if there's a friendly one in between. That they're just going to double down on these bad policies. So why would they make a ten-year, a 15-year, multi-billion dollar investment. When people are coming out and saying, we're coming after you. You know, show me the incentive. I will show you the outcome, that's Charlie Munger. And it's for every single thing. In terms of energy, this is not just the next few months. This is a multi -- multi year disaster, with massive human suffering. I mean, we're talking about already in Europe. Just the implications, not just on heating your homes. But on the food sector. Bakeries. Dairy.

Companies that massively use energy. They're not able to produce, at the levels, that they could, because the energy --

GLENN: Farms.

CAROL: Yeah. Fertilizer. This is what happened to Sri Lanka, right?

GLENN: This is craziness. It is craziness. There is such a -- and I can only -- you know, it's Malthusian.

You have to hate humankind, to go down this road. Because it's so clear, what the ramifications are.

And if you stop right now, and you go, okay. Okay. Okay. Okay.

All right. I got it. That's one thing. But to stay singly focused on this, and continue, while people are going to face starvation and freezing to death, there's something deeply, deeply wrong with you.

CAROL: So we've talked about this. This is what the fed did. They stayed with that myopia. Same thing with covid. Now we have it with energy.

Silent squeeze: How the Dems shutdown is CHOKING the economy

The U.S. government shutdown is hoarding nearly $1 trillion in the Treasury, all while government employees are going without pay. Like a body slowly losing oxygen, this squeeze spikes rates, and threatens Main Street first—freezing small businesses, families, and consumers. This is all PLANNED to destroy Trump's economy and give power back to the Democrats. This MUST END.

Transcript

Below is a rush transcript that may contain errors

GLENN: So we have hit a critical juncture. A turning point, if you will. On the closure of the government.

And the government needs to open back up. And I'm going to explain it in a way that nobody else will explain it to you. If you're watching CNBC over the last couple of days, they were saying things like, you know, the repo market is under great stress. The banks are getting money from the Federal Reserve. At incredible rates. Highest it's been since 2020.

What does that mean?

What does that mean?

The banks, when they close, they have to have a certain amount of cash in their vaults to cover everything.

It's a requirement by law. And if they don't have that, then they have to go to what's called the repo market, and they borrow money overnight.

And there's interest on it, they borrow it over night. And they give it back in the morning when they open back up. Okay?

It's only done when banks are short of cash. It used to be a very bad thing. Now it's happening all the time. But not at these levels. So let me explain what all of these things mean.

Try to imagine, if you will, that America's financial system is like a living body. The heart, as much as I hate to say it. For this example, is the Federal Reserve.

It doesn't create life. But it keeps the blood pumping. Okay? The arteries and the veins are the banks and the institutions that carry the lifeblood of the economy, money. Okay?

And the capillaries, are like you and me. Every family, every small business, every worker trying to make a paycheck stretch from one week to the next. Okay?

We're not an artery. We're capillaries. Now, in this body, there's something called the repo market. Okay?

This is the place where banks and institutions go to borrow cash overnight. Okay?

Think of that cash like oxygen, okay?

The oxygen exchange that happens in the lungs. It's fast, it's constant, it's invisible. But it is vital. You don't have the oxygen, it doesn't matter what the blood is doing, right?

Every night, money goes out. Every morning, money comes back in. That rhythm is what keeps the entire body alive. Well, in the last few days, that rhythm has faltered, something is clogging the arteries.

The banks, the vessels, they're gasping now for oxygen. So they're going to the fed's emergency oxygen tank. The standing repo facility.

And they're drawing record amounts of cash out, just to keep breathing. Okay?

It's like watching a marathon runner suddenly reach for an oxygen mask at mile three. Why?

Why is this happening?

This is the important part. Because while the government is shutdown, and we might think. Well, that's good. They're not spending money.

Hmm. The treasury is the fiscal liver of the body. And it's storing all of the blood in the liver. Okay?

It's storing cash in a valuate now called the treasury general account. There's nearly a trillion dollars sitting there.

A trillion dollars sitting there.

Not being paid. Every dollar that goes into that vault is a dollar that can't circulate now through the body. So now it's starving everything of cash. Because there's a trillion dollars sitting in the Treasury.

And even though, you can't see it, every second the shutdown drags on. The system is being starved. And the arteries are tightening.

And the heart is straining. And the body is starting to shiver. And that's what's happening right now in the shadows of our financial system.

It's not about Wall Street freed. It's not some obscure number on a Bloomberg terminal. It is about a government that has turned inward, frozen by politics, unable to pass the simplest resolution to fund itself. And because it's doing this, it's pulling all of that pretty sure liquidity. A trillion dollars in cash. The oxygen. The life of our economy, out of the bloodstream, and into a vault.

If you've ever had a power outage in winter, you might know the feeling. Let me describe it this way. First, it's fine. You grab a candle. You grab a blanket. You start the fireplace.

Hours drag on. The house starts to get a little cooler. If it continues to drop on. The pipes begin to trees. And by morning, it's no longer a cute little thing, that, oh, no. We'll just sit by the fireplace. It's cold. Okay?

That's where we're at, financially right now. We are not at the point of collapse. But we are at the point of freezing the pipes.

What does that mean, when I'm talking about the arteries?

The government you shutdown has locked up the treasury's checkbook. That means fewer payments to contractors. Less spending. Less money flowing into the banking system. When less cash circulates, the banks can't lend freely because there's no cash.

Money gets tight. Repo rates, that invisible overnight interest rates. That starts to spike. And when that happens, it affects the capillaries.

You and me. The smallest players. The smallest businesses. The consumers. The credit unions. We begin to feel it first.

Okay?

When arteries clog, at the heart, what's the first part of the body that goes cold? Goes numb. The fingers. The toes. That's us! Here's the tragic irony.

The politicians, you know, the Democratic Party, fighting over principle. They may think it's about posturing, about leverage, about who blinks first. But it's not. While they're playing chicken with our nation's checkbook, it is now time to say, enough is enough! Because the system is gasping for air.

And this is how financial crises begin. We're not in one yet. But, again, the pipes are beginning to freeze. This is how things happen. They happen quietly, not with a bang.

Not with a crash. But with tightening. With the arteries getting clogged. All of a sudden, you have a widow maker. And you didn't see it coming.

Because it's a slow, silent squeeze that begins in the overnight funding markets. The kind of plumbing that nobody ever looks at, nobody ever talks about.

Nobody even understands. Do you understand how the pipes are working in your house, behind your walls? I don't even know where they go. I know they eventually go down and out, but I don't know. And all of a sudden, you find out, when a pipe bursts.

Make no mistake, if this continues, it won't just be the banks that are hurting. It will be your mortgage rate. Your credit card interests, your grocery bill.

Because the system has to begin charging more for everything. Because they are paying more in interest, to hoard what little cash is out there.

The longer it goes on, the more cash goes into the government, and it sits there.

It's -- it's like watching your bloodstream start to clot!

You're not going to feel it right away. But if it reaches the heart. Reaches the brain. The damage can be fatal.

So here's the one truth today, on the economy, that the media won't tell you, or -- they fail to explain it. The repo market.

What the hell does that mean!

Why are you only talking to the people on Wall Street. Why don't you tell the people who are going to be affected first.

How can an alcoholic DJ figure out a way to explain this to the average person?

But you can't!

This shutdown is not just a political stalemate.

It is a self-inflicted wound.

We are at a point now, where the government is literally draining oxygen from the economy! And the Fed is in triage mode. Pumping emergency liquidity into the veins, just to keep the patient alive. The question is, how long can the patient keep doing CPR, before they tire out?

How long before, we need to start printing money.

The cure is not money printing.

It's governance. It's having a damn adult in the room. It's lawmakers that understand that starving the bloodstream to win a headline is not courage. It's madness!

When -- when will the Democrats stop this game, the shutdown has to end!

Not because Wall Street wants it. But because Main Street needs it!

The blood of the American economy. The trust, the liquidity, the stability.

It's not infinite.

And once the heart starts to falter, it takes more than an emergency repo to bring a nation back to life.

This must end!

"The Most Dangerous Place on Earth Right Now!" - SHOCKING Details of Nigeria's Christian Genocide

Across Nigeria, Christians are being hunted, churches burned, and entire communities wiped out — yet the world remains silent. In this powerful discussion, Glenn Beck and Rep. Riley Moore uncover the horrific truth behind Nigeria’s Christian genocide and the shocking indifference from global leaders. This silent war on faith is one of the greatest humanitarian and moral crises of our time. Will America stand up for its brothers and sisters in Christ before it’s too late?

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. Riley, let me talk to you about Nigeria, and what's happening in Nigeria. It's the scariest, most deadly country in the world, if you happen to be a Christian. And nobody seems to -- to be talking about it. And, you know, you have been involved in, you know, urging Secretary Rubio to say Nigeria is a country of particular concern, which I don't what an that means exactly. What doors does that unlock?

RILEY: Yeah. So that is -- that designation actually fits in the U.S. Code. So it does unlock 15 different Levers for the President when a country is designated a country of particular concern. That could be holding development money, that could be going to international institutions to free assistance through there. That could also halt security assistance, which would be arms sales and training and things like that, that have been going on in Nigeria. We could sanction individuals. It gives the President the authority to do a number of different things that can really, I think, leverage the Nigerians to actually start caring about our brothers and sisters in Christ, who are getting murdered for the professions they're facing in our Lord and Savior Jesus Christ.

So I think this is a good first step, and we're going to see how the Nigerians react to this now. I've been having meetings with Departments of State.

We are going to meet with the Nigerians here at some point as well, here in DC.

So we're going to see what they're going to bring to the table. But also the President, who always puts all options on the table, has said, if they don't start fixing this, they're there couldn't potentially be kinetic military actions on -- in Nigeria.

GLENN: What does that mean?

Boots on the ground?

RILEY: No. To me, it does not mean that. To me, you have -- you have complex issues that are going on, over there. Where you have in the middle band of the country. This is where the Fulanis are. And these are herdsmen. And this is where you get this radical strain, obviously. Islamic terrorists, these Fulanis. These are herdsmen, tribes, and they have been attacking Christians in that middle band. In the northern part of the country is mostly Muslim. Southern part of the country is mostly Christian.

So that middle part, where they graze their cattle and all that, is where you see a lot of these flash points and murdering going on. But then in the northern part of the country is where you have ISIS, Boko Haram. They are operating there. And where they're taking over towns and communities, as we saw in Syria, right? Previously. Same type of thing.

GLENN: Yeah.

RILEY: CAIR is enfranchising, going on over there, all through the Lake Chad region, actually. So that's where I think, if it made sense to have some type of military action in forms of an airstrike or something like that, to -- to be able to tamp down some of the leadership and break up some of that structure in there.

That's something that would make sense. But to me, just speaking for myself, I want to try to work with the Nigerians, for them to do the right thing here.

President Trump obviously I mentioned, on Truth Social. Needs to specifically look into this. Which we are doing here in Congress. I want them to do the right thing.

I think the Nigerians actually have the chance right now to actually strengthen their relationship with the United States, if they're going to do the right thing.

But we can't allow to continue the slaughter of Christians where we have over 7,000 just this year, have been killed, for being Christian.
We can't allow that to continue, as a Christian country ourselves, which we are.

I know we're -- you know, some may debate that. I promise you, and nobody knows more about the founding of the country than Glenn Beck. Is that this is a Christian nation, founded on Christian values.

And we have to stand up for these people. Because nobody else is paying attention to this. Other than you, and some folks at Fox news. And that's really about it.

GLENN: Oh, I tell you, you know, I was planning on bringing my cameras with me. And I was going to go to Nigeria in the first quarter. And I have had briefings and warnings from the highest levels. Do not go.

You are not going. And I said, yes, I am. I want to bring this story.

You can't go. I've been to war zones. And this one, they're like, this is the most dangerous place on earth right now!

That's pretty remarkable, that nobody is really talking about it.

RILEY: It really is, and it's this silent genocide, that has just continued on since 2009, where we've had in between 50 to 100,000 Christians murdered for their faith. Our brothers and sisters over there, suffering, and no one has done anything about it. You might remember the bring back our girls movement around 2012ish, '14.

GLENN: Yeah. Yeah.

RILEY: Seventeen of those girls have still never been brought back. People forgot about it. It's fine. Boko Haram just has them. It's not fine.

It's not okay. And there are a lot of Levers that the administration is able to pull here, I think to get the Nigerians on the right course.

It's not that they don't have resources. This is an oil rich country. With a lot of critical minerals.

They have the means to be able to do this, at the end of the day, it's a question of prioritization. And what their goals actually are. And we need them to focus on this. Or the President will start to focus on it.

GLENN: Well, I will tell you, 19,000 churches have been burned.

And yet, from what I'm hearing, there are some in the Nigerian government that are like, no. This is not what's happening. This is not about genocide. It's not about Christians. It's just squabbles.

Really? Fifty to 100,000 people. And 19 thousands of individuals people have been burned in little squabbles, that don't have anything to do with radicalized Islam?

RILEY: Exactly. And this is the excuse I've gotten from people on the ground, look, do terrorists kill other people other than Christians? Yes, of course they do. But we're talking about five to one is the ratio, Christians versus non-Christians are being killed over there right now.

Secondly, I want to point out for everybody, President Trump has a designation in Nigeria. It means his first term.

It was taken off by the Biden administration. Because they claimed the killings had more to do with arable land and herders, and actually the root cause was climate change.

GLENN: Climate change.

RILEY: Yeah. That's why these killings were happening. Because of climate change. Where that's why we saw the murder rate just skyrocket during the Biden administration.

And President Trump, who cares very deeply about these issues, he's not going to allow that to persist anymore.

GLENN: He said, if there is an attack, it will be fast, vicious, and sweet. Just like the terrorist thugs that attack our cherished Christians.

I will tell you, I've -- you know, been reading up on it. And doing our homework.

And, you know, it reminded me of how the Germans went into Poland. Where they would just take whole communities. They would put them in the church. And lock the doors. And burn it to the ground.

That's what's happening in Nigeria. They're doing the same thing. They're burning churches. Not just burning churches. They're gathering Christians up. Putting them in, locking the doors, and then burning it down so that all of these women and children and men die in a fire in their church. And it's horrific. It's horrific.
What does the average person need to do?

RILEY: Yes. The average person needs to call their number of Congress and elevate this. And make this an issue that is on their radar, that they care about.

I'm introducing resolution which would be a sense of Congress, that we support the President. And we support the people and the Christians of Nigeria, and their plight.

And we condemn what the Nigerian government is doing, in action around this. That resolution should be getting introduced here soon.

So that would be something that would be hugely helpful.

GLENN: Wow.

It will be interesting to see who votes for that, and who doesn't.

That would have been -- that would have been a no-brainer 15 years ago. Just a no-brainer.

And now, I wonder if you can even get that passed. That's sad. Sad.

RILEY: It's sad. And I think we need to put it to the test. Put it to the test.

Certainly, if I'm whipping the votes, I don't have Ilhan Omar in my "yes" column.

But, you know, let's -- let's put it to the test here.

The TRUTH about Zohran Mamdani and communism

Is New York City’s new mayor-elect Zohran Mamdani a socialist or a communist? Glenn Beck takes a look at history to explain why it doesn’t really matter: BOTH lead down the same road …

Transcript

Below is a rush transcript that may contain errors

GLENN: You know, we've been talking about socialism, and Donald Trump is getting pilloried in the press for calling Mamdani a communist. And I find this ritual here, that we're going through is just, you say the word socialist, and, you know, 25 years ago when I said that these people were socialist, everybody said, "Oh, my gosh. You can't call them socialists. That's an outrage." I said, "The mask is going to come off, that they can't wait to tell you they're socialists."

Now Donald Trump said, you know, Mamdani is a Communist. And everybody is like, oh, my gosh. Look at this hysteric from the Cold War. He's just -- he's out of the Cold War radio drama.

So let me just clear this here. Because the difference between the two terms, you know, is really not some great firewall of virtue here. As if one leads to like Scandinavian candles and the other leads to gulags. That's not what's happening.

What we've forgotten here is what always is forgotten. And that is how Karl Marx actually talked and saw the two. He didn't draw, you know, polite little distinctions. He described socialism as the transition. The necessary scaffolding that leads to communism. That's Karl Marx. So socialism for Karl Marx was the road, not the destination.

Communism is the end of that road. He wrote -- he wrote an essay, the Critique of Gotha Program. And Marx said, under socialism, from each according to his ability, to each according to his contribution. Under communism, to each according to his needs. The only difference here is timing. It's not philosophy.

It's not goals. It's just how far along the revolution you are, okay?

Socialism is the bridge to communism. According to Karl Marx, don't take it from me. Communism is the completion of socialism. It's -- it's the antithesis of a free market system. Even Lenin called socialism the first and necessary phase of communism. So it's not partisan rhetoric. Okay?

This is the literal architecture of Marxist thought. But can we get out of the theories of all of this?

I mean, history gives us warning. Much more vivid than any theory. You know, we would like to imagine that the worst horrors of the 21st century came from one beast alone.

And we think that's Hitler. But actually, a bigger beast was Stalin. But if you want to look at Germany from 1930 to 1945. You see something really uncomfortable.

A socialist movement that curdled into something monstrous, while it never called itself communist. In fact, the Nazi government. The national socialists. The Nazis were not communists. They were against the communists.

They killed communists!

But they shared the same foundational belief. That the rid is disposable, and that the state defines the truth.

They both believe that rights are not given by God, but administered by political power. And that dissent on any of this, has to be crushed for the good of the collective.

That is the -- that's the definition we should care about!

Socialism doesn't to give full marks communism to become catastrophic. It just has to replace the individual conscience with the will of the state. And don't you see, that's what's happening here? They'll crush you! They'll destroy you. You disagree with them, they'll destroy you. Even if you've been on their side. I am going to share eye story with you, from 1979 that happened. That I don't think most people understand. And in New York, you better understand it.

When a society accepts the premise, that premise, history shows the -- the slide can accelerate from a utopian promise to industrialized cruelty. Horror show.

Like that!

Germany saw it. Russia saw it. China saw it. Cambodia. North Korea.

Cuba. I mean, it's all right there, just different flags. Different slogans. But it's the same structural error.

So can we stop with this mocking of the language?

You know, people laughing. Oh, you said Mamdani is a communist, but he's just merely a socialist. You're missing the point entirely.

The issue is not whether the label is technically perfect. The issue is the philosophical DNA is exactly the same. Collectivism over the individual.

State control over personal agency. Central planning over free will.

And that the belief that human nature can be engineered by a political force. That's where it always goes wrong. It doesn't understand human nature. So you can argue all you want, about where socialism ends and where communism begins, but honestly, that's like, hey, kids, memorize the date of this war.

Why? Why? I'm never going to use that fact again. What difference does it make? The thing we should care about is, why was that war fought? What happened at the end of that war? When communism and socialism, we should be saying, where does that road lead?

I can tell you that the road always begins with the state controlling your choices. Okay?

It will control your choice of energy, money, your children's education. Your speech.

Your job. What you drive. And it always ends with never greater liberty. It always ends the same place. In a society that has forgotten that freedom is fragile.

That power concentrates. That people are the same over and over and over and over again!

Human beings. They go bad! Especially when you give them power, and they're told they're part of a grand collective. Humans are willing to commit horrors they would never do as an individual.

That's the biggest thing. You get these horror shows of 100 million dead, because it's a collective!

We're all doing it. I'm not doing it. Everybody is doing it. That's the warning.

That's historical. And we ignore it at our own peril. Now, the problem here is, is that socialism is on the rise. And communism will be next.

Remember, when I first started talking about Obama, they -- I was -- I was raked across the rolls -- the coals, every day for even suggesting he might kind of like socialism. Now, socialism is fine!

So that road is still going to -- we're going to continue rolling down that road. And any country that goes into socialism -- we're not talking about a capitalist. We're not talking about Sweden anymore.

In fact, we are actually talking about Sweden. Look at the road they're going down now.
I mean, they're going into their own kind of authoritarian rule with Sharia law.

That is coming to Sweden. We are not talking about this friendly socialism. We're talking about the complete abandonment of the free market entirely. We've been this stupid little hybrid, that doesn't work. It only causes misery. We've been this hybrid.

And it doesn't work in a country this large and a country this diverse.

But look if you're -- you know, if you grew up after 9/11, where have you seen capitalism work for you?

Okay? You've seen, I know I've seen it. I've seen the rich get richer. And I don't mean the rich.

I mean the really, really, really rich. The ones that the Democrats never really talk about. They say they hate the rich. The rich have to pay their fair share.

But they're hanging out with George Soros. They're hanging out with the Ford Foundation. They're hanging out with Bezos and all of these other people. Because that's -- that's -- that's real control! Okay?

They don't hate those guys. They never do anything to affect their taxes. They don't pay taxes. Because they have the money to put it into trusts and everything else.

You don't have that!

So when I say, I've seen it happen. I've seen the rich get richer.

You know who the rich are?

Citibank. These banks that have been taking our money through bailouts, when do we get that money back?

When do you get that money back?

You don't!

You don't. That's why this is working. That's why you can say, socialism is neat. Because nobody knows the killing machine that socialism actually is. Nobody has any idea. Look at the killing machine. Look at the killing machine that's being built in socialist Canada right now.

What is it? MAID is the third or fourth biggest killer. It kills one in every 20 Canadians. Why is that happening? That's not out of compassion. That's because they're running out of money for health care. That's what that's about. Get them off the dole! Stop it. Now, if they're earning a lot of money, get them in, because we can still get their money, but let's make sure they're making money. If they're getting old, if they are cripple, if they fought in a war and just can't has come it themselves, if they're super, super young, if they have an expensive cancer, let them die. Help them die!

That's because they're looking at the collective, not the individual. And that's -- that's the beginning of the dark killing machine in a socialist country. And Canada is -- is -- I mean, it has socialized medicine. The problem is, it's all failing. Socialism always fails.

Capitalism has -- has taken people out of poverty. Solved problems. Healed people. Given people heat and houses and cars and airplanes. All of that is because of the free market. All of that is the free market.

You get rid of the free market. You put it in the hands of governments. And you have monsters. Monsters. And we know it, because we've seen it over and over and over again.

But our -- if you're -- if you -- if -- if you don't remember, or barely remember 911, you've never been taught any of this.

You've never been taught what it actually means. So you're seeing this play out, over and over again. Look at that guy, look at, he's not going to have to pay a price. He's just going to get away with it. And he's taking all of our tax dollars. Okay. I hate all of that.

This capitalist system, it's corrupt!

You're seeing that play out in real time. You're not seeing anybody actually go to jail for these things.

Of course, you think that it doesn't. I don't think it works the way it is right now!

But then you're -- you're given this false utopian promise. Without any information.

Read the warning label on socialism!

Where has it ever worked?

Show me where it has worked!

And don't say Sweden. Sweden.

Sweden is falling apart right now. Do you know why?

Because Sweden, everybody was blond hair, blue eyed, they were all related to each other. It was a small, little country.

You can do it when everybody is the same, and it's small. It will work in -- to some degree!

But the minute you start going diverse, the whole thing falls apart. So you want to be Sweden?

Go ahead. Look at Sweden today.

I don't want to be Sweden.

Read the warning label. That's our job, to show that warning label.

It's our job to teach what's not being taught. This is a death cult.

Stay away from it. Warning. Warning.

Could Comey FINALLY go to JAIL thanks to this smoking gun?

Is this the 'smoking gun' evidence that could put former Director of the Federal Bureau of Investigation James Comey behind bars? Just the News CEO John Solomon joined Glenn Beck to reveal some shocking new revelations, including Comey’s own emails allegedly authorizing anonymous leaks to the NYT on the Clinton case, potential handwritten notes proving he KNEW Hillary’s team approved the Russia collusion hoax, and a possible email from Comey referring to Hillary Clinton as “President-elect Clinton." Will a Northern Virginia jury hold the Deep State accountable? Or will politics bury the truth again?

Transcript

Below is a rush transcript that may contain errors

GLENN: John Solomon is with us. He is the CEO and editor-in-chief. In chief of Just the News. If you don't check that every day, you're really missing out on a really great news site. Justthenews.com. John, I have made a promise with my audience a long time ago, I do my best not to waste their time.

And as I'm looking through the things I want to talk to you about, I have to start with this question: Is any of this going to mean anything in the end, or is this -- are we just spinning our wheels and wasting our time, talking about how the deep this scandal with James Comey is becoming?

JOHN: That's a great question. And I don't think history has an answer yet. It will really depend on the tenacity and the focus of the Justice Department, the prosecutors, and the jurors that are going to catch these cases. Right? Are they willing to rise above politics and say, "We don't want an FBI that goes after people based on their political color, not the quality of the evidence against them."

And that is what began on 2015 on James Comey's watch, a different type of FBI that seemed to go after Donald Trump and his associates, regardless of evidence, and protect Democrats like Hillary Clinton and Hunter Biden, even though the evidence against them was pretty strong, as we ultimately found out from the IRS whistleblowers. So we don't know yet. Listen, these are going to go to trial if the judge lets them go to trial.

The judge in the Comey case seems to be giving the prosecutors a hard time there already. But that's going to be litigated. I'm going to go up to the Supreme Court. It will be a long battle.

But the question is, is the fight worth it?

I think if you don't punish the people that created this mentality, you have deficits in America for a long time.

Banana republic, prosecution arc. And I think that's not what Americans want. They want to say, the FBI is above politics. It hasn't been in the last texted, until the last few months, under Kash Patel.

GLENN: Okay. So let's talk about what the new evidence is the -- the burn bags.

The hidden rooms. And the evidence that now has been found that -- that shows Comey looks like he was lying. To Congress. When he said, no.

I didn't know anything about it.

JOHN: Yeah. Yeah. So let's remind people what the alleged lie is, what he's been accused of and indicted of. He told Congress in '17, and then reaffirmed, unequivocally in 2020, that he never asked any of his staff to provide information to the news media. The government, Kash Patel found significant documents that go to the contrary. They chose not to go after James Comey. So in the Bill Maher administration, they knew the same evidence, but they didn't go after him. What is the lie?

He told Congress, I didn't -- one, I never authorized anyone to leak to the media anonymously about the Hillary Clinton and Donald Trump cases. And, two, I don't think I knew anything about an intelligence intercept that Hillary Clinton was setting up a fake Russian collusion hoax, that we ended up investigating.

Well, we now know, first, his own emails, with his own top lieutenant, Daniel Richmond. A former lawyer who he brought into the special government. The FBI. There's an FBI employee, showed that James Comey, told him, good job, and make them wiser as he was briefing them on how he was anonymously trying to spin the New York Times and provide information to the New York Times about the Hillary Clinton case.

So directly on point to the testimony he gave. I didn't authorize him to leak about Hillary Clinton in their emails. So this guy was leaking it. He was affirming it, and saying, go ahead. And he was encouraging him to make that reporter wiser. In other words, give them more information anonymously.
So that's the first lie. The second lie -- and, by the way, the grand jury bought that evidence, that we believed he lied.

GLENN: Okay.

JOHN: And that is what we call the Clinton planned intelligence. Was Comey, as John Brennan claimed. And as other evidence -- did Comey know, did he pay attention, did he have some awareness that as the FBI was starting to investigate the Russia collusion ruse, the hoax, that Hillary Clinton had been interpreted, or her people had been intercepted, showing that she approved the plan. He said, it doesn't ring true. I don't think I knew about it.

Well, in a locker, in a burn bag, they found some handwritten notes of James Comey, that appeared to include the briefing from John Brennan where he clearly knew, that Hillary Clinton had been intercepted -- or, her team had been intercepted, saying she approved this plan to hang a fake Russian shingle on Donald Trump's campaign house. Now, those are handwritten notes.

GLENN: Yeah. That is in his handwriting, that he clearly understood. And so now you've got him on -- on two really significant lies. That show that this whole thing was -- was -- they were in collusion with one another. And all of this was bogus.

And they knew it from the beginning.

JOHN: Yeah. That's exactly right. That's why, when you look at this. And then take the third bag of this. Those notes were never produced in earlier subpoenas to Congress or other investigations. They were found in a room, where it appears, according to the government, there is an effort to get rid of or hide this evidence.

So it hadn't been hidden from prior subpoenas, according to the government, according to Lindsey Halligan, the prosecutor. And then, two, it looked like they were in burn bags. Meaning, they would never be there.

Now, some other people said, oh, well, there's electronic records of it.

It turns out according to the government, there was no electronic record of the note. Meaning, if they had been burned or destroyed, it would have never happened.

Now, why would James Comey want to lie about this? Because as we see in these same emails, it appears he had a motive.

His motive, as he wrote, his colleague is, I fully expect to be working for president-elect Hillary Clinton. She's talking this way, before the election in 2016.

He thought Hillary was going to be his boss. And as he wrote Dan Richmond, he said, I think Hillary Clinton will be, quote, unquote, pleased by the way I handled her email chase. In other words, he reopened it and cleared her a second time.

And when the smoke cleared, Hillary would like to keep him out as FBI director. That's the insinuation of those notes. So --

GLENN: Yeah. I want to get the exact. I want to give the exact phrase he wrote. A president-elect Clinton will be very greatly.

JOHN: Yeah. Grateful, I'm sorry.

GLENN: Wow.

JOHN: Yeah. Grateful. So he expected it -- that's his mindset in the fall of 2016.

And he opens up an investigation on Hillary Clinton, what we now know to be a ruse. Bad evidence. An agency had to lie to the FISA courts to get the FISA warrants. If his motive was that, or his thinking was that. He probably does not want to admit that I was warned, that maybe this was all a joke before I allowed this investigation to go forward. Before I affixed my name to a FISA warrant that the courts have now said was misleading, false, and violated the law. So that is the context at which the prosecutors are going to try to bring this -- bring this case. Now, it's going to be in northern Virginia, where there are a lot of federal workers and a lot of anti-Trump sentiment.

Can they get a conviction? We don't know. But is it worth trying to do it? Most people I talk to said yes, because the alternative is you have by inaction a sanction, which is what Bill Maher and John Durham did by not bringing this in 2020.

GLENN: Yeah. Yeah. All right. Can I switch topics. There's something that came out today. James Comey's daughter, and the Epstein case. Apparently, James Comey's daughter sent a message to Epstein, that if you don't have to prove it. But if you can show us anything that ties Donald Trump to this, it's going to go a lot easier for you.

Can you give me this story?

JOHN: Yeah. I've seen it. I've not been able to corroborate it. In this world of media today. I've been super careful. It's hard to know if things are true. I haven't found anyone yet who seems to know the proof on it.

It's possible. Who knows? I mean, prosecutors make these sort of deals all the time. And as we know, it seems in the last decade or two, I think when you have to go back to the era of the Ted Stevens prosecution. The IRS pursuit of conservative groups. And maybe the prosecution which turned out to be malicious and wrong of Virginia governor McDonald.

There is a culture that began at the beginning or around the time of the Obama era. Where winning for prosecutors is more important than winning fairly or on the face of the evidence.

And that's why these cases ultimately got overturned. That mentality exists in the Justice Department.

And then when you add the nature of politics, the Trump Derangement Syndrome that seems to come in, in 2015. You have a very dangerous prosecutorial and law enforcement system that's easily weaponized and can easily cheat.

And unless you got multi-million lawyers, you probably will get hosed, because very few people will find the grounds to overturn this.

And that it is crushing power of the state, that Jim Jordan talks about. Chuck Grassley talks about. That Donald Trump wants to reform.

And I don't know, in this case, whether Mr. Comey did this or not.

Because I can't confirm it yet. But if I knew, I'll come back to you.

GLENN: Right.

JOHN: The scenario does go on. And we've seen it. And it's very, very troubling.

There's a case coming up in New York, where the FCC has to admit that there were journalists writing fake stories that were then used to justify investigations of companies.

A system of cheating to get a consequence regardless of whether it's warranted, is something we all have to take a deep breath. We have to fix it. Or we won't be any the different than rectangles and Iran.

GLENN: I will tell you, that I am so glad to say, that you said, I can't confirm this.

I haven't found a source to confirm it.

Because when I read that story, it looks as though one of the people that is telling this story is the guy who was in jail, with Epstein, who would also have motive for making something like this up. So, you know, I don't want to exonerate her.

And I don't want to condemn her. I just want the truth.

And he doesn't seem like a reliable source.

JOHN: Yeah. I think we have to get the evidence, and try to -- listen if the lead is something -- let's check it out and true -- find out if it's true.

We learned that Russia collusion wasn't true. I think we'll learn that most of Ukraine impeachment wasn't true.

And I think today, we just have to dig in first. Get the facts.

But we will -- we will do that. I promise, I'll get back to you, as soon as I know what I can find out for the government.

GLENN: Yeah. Thank you, John. I appreciate all your hard work.

John Solomon from Just the News. Go to JusttheNews.com. Follow him. John Solomon. JSolomonReports on X. But he is an old school journalist. Investigative reporter. Has worked for everybody, until everybody was like, you can't say those things. That's our side!

And then he just left and did his own thing. And I'm very grateful for it.

Editor-in-chief of Just the News. John Solomon