The U.S. economy is struggling, and signs show the strength of the U.S. dollar is only getting worse. In this clip, Glenn explains why — thanks to Saudi Arabia — the petrodollar is in HUGE danger. And, if the petrodollar disintegrates, so will the U.S. economy. But you won’t hear this anywhere in the mainstream media, Glenn says. So, he gives you the FACTS about how dire our economic and monetary situations truly are: ‘No one is telling you the truth. No one will tell you how bad things are.’
Below is a rush transcript that may contain errors
GLENN: I want to share something with you that comes from Branden Smith.
I think this is probably the most accurate on what is coming. I told you -- I've been telling you this for a long time. But I told you a couple of weeks ago, that you were going to start to see Saudi Arabia with the World Economic Forum, get off of the US dollar.
I have said, since 2008, show me a path where the dollar doesn't collapse. And I've been giving two answers every time from all the experts.
Glenn, the US dollar is the only way for think about in any country, to buy oil. It's called the petrodollar.
Yeah. Yeah. Yeah. I get that. But what happens if the petrodollar -- it's never going to go away.
Okay. Saudi Arabia is our good friend.
They know what getting off the petrodollar would do to their very friend, and protector, of the United States.
So it's not going to happen.
Okay. Okay. Okay.
And, you know, another thing, Glenn, that you don't understand, is that there's just too much out there to lose.
And these banks, and these countries, they're not just going to let the dollar collapse.
They'll lose too much.
So stop worrying your cute little head about the dollar.
Okay. All right. Well, that's what you will hear from all of the experts.
That is either head in the sand ignorance, or a blatant lie.
The thing that has kept our dollar in place, is the petro status. It means that Saudi Arabia will only trade in -- and OPEC will only trade in US dollars. So if you have a wan or a ruble or a yak, you have to buy a dollar that you can send them to OPEC. Okay?
That's why all the countries keep the US dollar on hand. They need it to buy fuel.
Well, guess what just happened at the World Economic Forum.
Something that will never, ever happen. The Saudis have now said, yeah. We'll pretty much take anything. They're not that picky. Yeah. You can buy it with other things. Sure, go ahead. Let's give that a whirl.
Well, Glenn, that will never -- it just did.
It just did.
Well, I mean, the -- the rich and the powerful, I mean, they have too much to lose, and they'll never just allow the dollar to -- hmm. Unless the rich and powerful are part of something like a great reset. Unless the rich and powerful are the ones that know what's coming, because they're the ones that screwed it up, they're the ones that have been funneling money to themselves, from our Treasuries and from our printing presses. While they're screwing the little guy. They seem to get richer. Why is that? How come the banks have received trillions of dollars, but the little people didn't even know that was happening?
It's almost as if, these people were robbing our Treasuries. Looting our countries. Knowing that it's going to collapse, and they're positioning themselves to be ready, when it collapses into the system they are building.
The only ones who don't know is you. Well, it's a conspiracy theory. Is it? Is it?
You can play that as much as you want. I'm telling you, these are the robbers. These are the guys that have been hiding in the hills.
These are the ones that are stealing you blind.
It's the golden goose. It will never -- uh-huh. Uh-huh.
They will cut the head off the golden goose. And when they actually start to get out of dollars. These countries are already selling their dollars. But it hasn't really started yet. As they start to get rid of those dollars. What happens to those dollars? They're no longer in somebody's vault. They're now pouring in all over the country. Which makes our inflation even higher.
You'll have to have a way out. I mean. Hey, what a coincidence.
We have the central bank digital currencies being approved right now.
All over the western world.
The IMF has been working on a basket of currencies for a while now.
Just in case the US dollar would ever collapse. Oh. Good thing they've done that just recently, when one of them must have figured out that, oh, all the things they've been telling us is not true.
So somebody at 2 o'clock yesterday was like, hey. I know it's Sunday, but I just figured something out.
We should do something.
Yeah. They've been planning this for a long, long, long time.
Okay. I want you to listen to Brandon Smith. 2017, he said, I published an article, the Saudi coup signals war, and the New World War reset. I noted at the time that the sudden power shift over to the crown prince, Mohammed bin Salman, indicated a change in Saudi Arabia's relationship to the US. To understand how drastic this coup has been. Consider this: For decades, Saudi kings maintained political balance by doing -- by doling out vital power positions to separate, carefully chosen successors.
Positions such as the Defense Minister, the Interior Minister, the head of the National Guard.
But today, Mohammed bin Salman controls all three positions. Foreign policy, defense matters, oil and economic decisions, and social changes are all in the hands of one man.
So who backed this? Well, it was backed by the public investment fund. A fund comprised of trillions of dollars.
Where did that come? From globalists. Goldman Sachs, Blackstone, BlackRock, the head of the Saudis now fell into favor with the globalists for one reason. He openly supports vision for 2030. What is the vision for 2030?
Oh. The vision for 2030.
That's the World Economic Forum.
That's the UN.
That's The Great Reset.
We're going to get all of these carbon fuels.
These fossil fuels.
And we're going to have carbon controls.
Wait. Glenn, that is the -- that's the dumbest thing I've ever heard.
It's Saudi Arabia. Why would they ever do that?
Because the Saudis have been given assets to ESG-like funding. As well as access to AI advancements. The so-called digital economy.
Hmm. So the Saudi elites are willing to dump the dollar and even oil for access to a reimagined economy. A reimagined world. Fantastic.
Here's the thing: Saudi Arabia has jumped on this bandwagon. China has bumped -- has jumped on this bandwagon.
When this really starts to kick in, our economy -- well, let me just put it this way. We outsource our inflation. Okay?
Because everybody else is running on dollars, that they have to buy from us.
Their inflation goes up. Because of what we do. So I think I told you this in 2009, the rest of the world is going to hate America. If this ever comes really out. And everybody really knows. There's a couple of heads on the chopping block.
One, America, that's just over. Because we've destroyed -- our choices, to just spend and spend and spend. Our choices are going to be used against us, by foreign leaders who can't keep their people in control and need a villain. And it will be the United States.
Then on top of that, you have the World Economic Forum. The World Economic Forum, which has orchestrated a lot of this. The Federal Reserve.
What happens when the Federal Reserve raises interest rates? Because they have to suck all that money back in.
And yet, we don't stop spending. Hmm.
That's going to be a problem. Don't you think?
And we're going to have to start spending.
Because things like Social Security. It's on the brink of collapse.
When is somebody going to stand up? A politician? A real leader?
I mean, I'm going to be 59 in a couple of weeks. Fifty-nine. I can't believe it. I don't know what happened. But all of a sudden, I'm 59 years old. I've known my whole life, I'm not getting Social Security. If I get Social Security, it's going to be worthless. It's going to be worthless. I've known this my whole life.
Okay. Why is it short?
Because at one point, we had enough people working that could pay for the older people. Okay?
We used to have a bunch of young people working, and they all contributed to the Social Security. I think it was 16:1.
So people working, and they -- their portion of their Social Security, would go to the one.
It's now two and a half to one. How are you going to keep that up? Especially when people start losing their jobs. How are you going to do that?
The -- the most logical thing to do right now: Is to begin telling everyone, when you hit 65, you've got to keep working. Unless there is, you know -- if you're 65 and you're getting it, you're 65 and you're getting it.
But you've got to keep working. And if you're 60, you get half. Now, this is going to be a real problem. Because I paid Social Security my whole life. Why don't I get it? Because it doesn't work. I fought against it, but we could never get it changed. Okay.
So for the next 15 years, 20 years, whatever it is, but it has to change. And people who are 59, need to understand, you've got to work until 72.
I don't want to work until I'm 72, but I'll work into I'll 72 or 75. Social Security was designed at a time when the average guy, who was the main worker, died at 62.
It was rare that you made it to 65. So maybe, if you want to go back to that, maybe you're working until you're 80 now.
But nobody will touch that, because no one is telling you the truth. No one will tell you how bad things are. But you know how bad things are.
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GLENN: Okay. So there's a new poll out, this is a story in TheBlaze today. Poll measured how many millennials are getting their bills paid by their parents. One-fourth of millennials get their parents to either pay their rent or help pay their rent.
Another one, is 19 percent -- 19 percent of all adults say their parents pay their rent in another poll. Another 19 percent of adults say their parents pay for their groceries. 16 percent say their parents pay for utilities. 39 percent of millennials struggle to find information and other resources to help with their finances.
Now, 69 percent of respondents in the northeast say they earn money by helping their neighbors, only 43 percent say the same in the southeast.
I'm wondering if that's because people just help their neighbors. 85 percent of respondents see themselves as financially responsible when it comes to things like credit scores and savings. But 50 percent of them struggle with unnecessary spending and unbudgeted expenses. Forty percent struggled to remember to pay the bills on time, to remember to pay the bills on time.
Not -- do you struggle to pay your bills on time? Do you struggle to remember to pay your -- when I -- I remember when I was, you know, the age of a millennial, that was the scariest time of the month. I remembered.
It was constantly there in the back of mine. Oh, my gosh. How am I going to make it? How am I going to make it? How am I going to make it? I didn't struggle to remember it. But there's also something else that is coming. So we have Social Security. It's collapsing. Nobody is going to do anything about that.
Because it's always framed as freak out, freak out. We're all going to die. We're killing grandma. Uh-huh. Uh-huh. It's not going to happen. Americans care. We have -- we have -- I believe stopped caring as much because the government has just I think destroyed so much of our responsibility, that we just think, well, somebody is going to take care of it. No, we're supposed to take care of our elderly. We're supposed to be taking care of the widow. We're supposed to be doing these things. So Social Security is collapsing. Then you find that millennials are not finding jobs.
Then the last piece: The perfect storm. More Americans cannot afford their car payments today, than during the peak of the financial crisis of '08. Now, what's happening with that?