Glenn explains: THIS is how Silicon Valley Bank COLLAPSED
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Glenn explains: THIS is how Silicon Valley Bank COLLAPSED

Silicon Valley Bank was shut down by regulators last week, marking the biggest bank failure since the 2008 collapse. So what happened? And what does this mean for YOUR finances? In this clip, Glenn explains exactly how SVG collapsed, why the Fed is to blame, and why working with a FDIC insured institution is IMPERATIVE.

Transcript

Below is a rush transcript that may contain errors

GLENN: Here's what happened. A couple of things. First of all, we're raising rates.

We had the COVID money coming in, right? To have

And you just heard there, all this COVID money. Well, they wanted to invest it. They needed to put it in some place. And invest it.

Silicon Valley. They had so much money coming in from COVID.

And so what did they do?

They bought treasuries. And at the time, you could buy a ten-year treasury, and you would get 2 percent interest. Guaranteed, at the end of ten years.

That was pretty good back then.

But now, treasuries are selling for about 5 percent interest.

And you don't get that, until the end of the ten years.

So when I buy something, a ten-year treasury, you're buying it for ten years.

If you have only eight years on it, you can sell it, but you're going to probably have to sell it at a discount if the new ones are paying more. So they invested the -- the money in treasuries, at 2 percent.

Just let's remember that. What they had in the bank, if you will -- they owed $195 billion. That's to the people who have put their money into checking accounts and savings accounts, mutual funds. They owed $195 billion. They had 208 billion, on the books.

That's a 17 billion-dollar -- when you have people all over the world starting to say, I think the bank is starting to collapse. They start to take their money. $17 billion can go that fast.

There was a clog in the system, that couldn't get the money wired out fast enough.

So they decided, they needed to sell. And then they announced, we're going to sell some Treasuries.

Well, once they saw that they were selling ten-year bonds, at 2 percent interest, and the market was saying, well, that's only worth 75 cents on the dollar in you.

And Silicon Valley bank was like taking it. They knew, this is a fire sale.

This bank is in trouble. That's what started all of the run on the bank. Now, you probably have FDIC insurance.

If you have FDIC insurance, it's to stop runs on the bank. However, Silicon Valley bank is different. It's very different.

I think it's 88 percent of their accounts, are not covered by FDIC. Why?

Because they're giant companies that are using payroll and keeping their money in the bank, as -- as the place where they can run their company.

So they -- they have more than 250,000 dollars in account. If they also, use the bank for a mutual fund, they found out Friday, they were also screwed.

See, this bank, loans money to these companies. These tech companies.

And they loan them out, venture capital.

And so they loan them the money to operate, and to be able to do everything they can, over the next year.

Well, they've got to put that money somewhere.

So the bank loans it out.

It's basically the depositor's money.

They loan that savings account of yours, per se.

And loan it to this venture capital firm.

Or, or -- the tech startup. And the tech startup then says, where do I put all this money?

And Silicon Valley bank says, oh, just in my other hand. Just give me my money back, and we'll invest it in mutual funds for you. We'll invest it in very safe things like BlackRock. So they did. And the tech companies thought they were safe.

Because it's invested in very secure places like BlackRock.

Except, what the bank didn't say, except in fine print. Is that all the money that you had invested, in BlackRock, was not yours anymore.

It was -- it was under the name Silicon Valley bank.

So when people started to call and say, hey, BlackRock, my money is safe. They said, you don't have any money.

Your money is invested in Silicon Valley bank. And because their name is on it, they're counting that as an asset. And now that asset as has to go to pay creditors.

So they lost their money. This is a giant shell game.

We have created nothing, but a shell game.

And the fed is the one that is causing this collapse, by the raising of the rates. But if you don't raise the rates, what happens?

Inflation goes out of control!

Why?

Because we have printed and loaned too much money out.

Okay. We'll pull it back in.

Well, the way you pull it back in, is raising interest rates. If you raise the interest rates, bonds have to pay a higher yield, and so when you buy a bond, you get more money back. And if somebody gets into trouble, they have to sell their bonds, exactly like Silicon Valley. And they have to take a hair cut. And then the entire thing collapses.

But here's the scariest thing.

This is what the fed has set out to do.

They want to see risky things, go away.

They want to see failure.

They need to people who are not stable to go out of business. Stop spending money. So we can suck all that money back in. But when they do collapse it. And our economy is in this kind of shape. You then have a domino effect, because nobody is in great shape.

And thing banks are playing a giant game.

So then people can't pay the paycheck. And then that paycheck falls -- causes you to default on your auto loan. Or your house loan.

And that makes another bank fail.

We're at the place, I told you in 2008. We would be. We have made the 2008 problem much bigger, and there's no way out.

Once you start printing money, there's no way out.

And what did we do?

Well, the fed said, we're not doing TARP. No, no, no. We have something entirely different. It's got a different name and everything. But we're going to cover all of those accounts.

Oh. Oh, okay.

So we're backing -- we're backing that now.

Yeah. But it's not your money. It's not your money. It's the fed's money.

It's the fed's money? Yeah. It's the money that the banks gave to us, to put aside for insurance in case something like this happened. Oh.

Where -- where did the banks get that money? Well, I don't know. Doing business.

Well, I mean, aren't these the banks you bailed out?

Well, yeah. And weren't you just giving them trillions of dollars is if

Well, yeah. Of course, we did. But they were paying in to this account.

Oh, okay. So the money you printed, that I'm on the hook for, you think to the bank, but they didn't use any of that money for that insurance?

No!

No. This is totally different.

Okay.

So now they're going to be protected, and I don't have an answer for you. Today.

Because all of the answers are bad answers. Should we back that?

No. No.

The constitutionalist, capitalist in me, says that's really bad.

Okay. So we don't back it. Well, no. No.

Because the guy who would like to see the entire western world not burn down to the ground, would like you to bail it out, just to give us some more time.

But that puts us right back where we were.

So I don't have -- I prayed hard today. What do I tell people?

Work on your spiritual health.

Because this is coming. At some point. It's coming. It has to. It has to. Now, the Washington Post said today, that the baggage's death marks both a sobering and salutary moment here.

The central bank has sharply increased interest rates over the past year, hoping higher borrowing costs would slow the economy down, and take the steam out of high inflation.

This is what the fed wants to see. They want to see a tightening of the financial conditions.

Great! They're on it. The Washington Post. With $209 billion in assets, the bank was just 118th the size of JP Morgan Chase. The nation's largest. Still Wall Street Journal was rattled by their abrupt end.

Bank of America was down nearly 12 percent in the past five trading sessions. They're down another five or about four and a half percent today.

Some banks are down as much as 10 percent today, before trading even started. The banks that served the riskiest part of the country and the economy, are the ones in trouble. Now, this is the Washington Post. I want you to listen to this.

Banks like SVB and Silvergate Capital, a San Diego-based bank that catered to cryptocurrency users, are the ones that are getting into trouble.

Oh. It's not a run -- it's not a run on the business model of the bank, it's -- it's not -- I'm sorry. It's not a run on the business model of the banking industry, in general, it's just the business model of this bank. So, in other words, if you are making risky loans, to -- to tech, or if you're investing and doing anything at all with cryptocurrency.

You're the problem. Hmm. That's interesting.

I'm going to tie some of this together here. We have a lot to go over, in just a second.

Sadly, it probably comes as no surprise, that anyone after the overturning of Roe vs. Wade. Abortion is still the number one killer among infants. We're still killing nearly a million of our own children, every single year.

And that is still here, in the United States.

I asked you, by the way, if you had had an abortion. You knew somebody that did. And they regret it.

Or you're F you're a child. That somebody tried. Mom tried to end your life. And you lived. Or she changed your mind. Will you write me a letter, and tell me your story?

I have something coming. That I'm working on.

And I will keep your name out of it.

You can use an assumed name. We just need your phone number, so that we can call and verify that you're an actual person. But all the details are at GlennBeck.com.

But we are fighting the good fight. I don't think there is anything we could do that would be more important than standing up and stopping the slaughter of our children.

For $140, you can introduce moms to their babies on an ultrasound. And help rescue five babies. When you do, you will see five stories, and five ultrasound pictures of babies saved. Preborn's goal this year is to rescue 80,000 babies, just from this audience. That's our goal.

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Ten-second station ID.
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Okay. So here's something you probably didn't know: The New York Times is reporting today, that good thing this bank has been saved. Silicon Valley Bank was in many ways, a climate bank. When you have the majority of the market banking through one institution, there will be a lot of collateral damage. Community solar projects appeared to be especially hard hit. Silicon Valley banks said, it led or participated in 62 percent of financing deals for community solar projects. Their smaller scale solar projects also serve lower income residential areas. Don't worry. Don't worry. The fed is covering all of this.

The devastation comes at a critical moment.

It is central to cut the greenhouse gases that are dangerously heating the planet, says the New York Times.

The federal government depends on climate technically companies to develop the innovations needed.

This is going to set the climate change industry down and set them back, for years.

Hmm. Gee. Well, good thing we're not drilling for oil. Good thing we're getting rid of all of our backup power plants, isn't it?

Home Depot cofounder said, the global lending firm, Silicon Valley bank, went broke because it was woke.

Now, the rising interest rates are really -- really why. But if you want to look at their business model, these guys are woke activists. He said, instead of protecting the shareholders and their employees, they're more concerned about the social policies.

As recently as this month just days before it went into receivership with the FDIC, the Silicon Valley bank discussed decarbonization, gay rights, the black venture ecosystem. And so much more.

Well, they were woke. Good thing.

Good thing. By the way, they were purchased this morning. By a British bank. Because Great Britain was worried about their tech industry. As SVB, funded a lot of their stuff too.

So that's good news

EXCLUSIVE: Will RFK, Jr. Change Glenn's Mind?
THE GLENN BECK PODCAST

EXCLUSIVE: Will RFK, Jr. Change Glenn's Mind?

Robert F. Kennedy, Jr. once called Glenn a traitor because he thought Glenn's opinions on climate change were "dangerous" and should be shut down. But now, he's one of the biggest CRITICS of censorship. So, what changed? Glenn decided to sit down with the independent presidential candidate to find out.

SHOCKING: You Need HOW MUCH Money to “Live Comfortably” in Each State?!
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SHOCKING: You Need HOW MUCH Money to “Live Comfortably” in Each State?!

With inflation still on the rise, Glenn and Stu review another shocking number: how much money you need to “live comfortably” in America. The numbers have gone through the roof and it’s no surprise that the most expensive states are blue states. Thanks to inflation, a single adult now needs to make over $100,000 a year in order to live comfortably in many states. So, can you afford your state?

Transcript

Below is a rush transcript that may contain errors

GLENN: Okay. So there's a new number out now, on what it costs to live in the United States of America. It's a little higher than it used to be.

And I -- I don't know if anybody has noticed they're having a hard time making ends meet.

Comfortable to live comfortably is defined as the monthly income, needed to cover a 50/30/20 budget, which allocates 50 percent of your earnings for necessities like housing and utility costs, 30 percent for discretionary spending, and 20 percent for savings or investments.

STU: Wow. I don't think a lot of people are living like that.

GLENN: Nobody is living like that. Nobody is living like that.

STU: That -- but wait. Percent of what? If you're making $10 million. You know. What is it -- you don't need to have a 50/30/20 lifestyle to live comfortably, right?

GLENN: Right. Right.

They're saying this is the minimum. This is what it takes to, you know, live comfortably. In America.

STU: So -- this is not talking about -- I think Jeff Bezos is pretty good. I don't think he needs an article.

STU: You're saying, they're basically reverse engineering the number you need to hit that. Is that what you're saying?

GLENN: Yes. Yes.

Okay. All right? Jeez.

STU: I was trying to understand.

GLENN: Here they are.

Most costly states: Massachusetts. $116,000.

STU: Hard-core conservative state.

GLENN: Hawaii. You'll see this a lot. Hawaii, 113.

STU: Another conservative -- red state.

GLENN: California, 113.

STU: Big red state there.

GLENN: New York, 111.

STU: Wow.

GLENN: I'm rounding out the top. Topping out the top five is Washington State, with 106.

STU: Another big red state. That's amazing. So $100,000, and you cannot live comfortably.

GLENN: Uh-huh.

STU: That's incredible.

GLENN: Okay. Now, to live comfortably in these states, you need to earn double what most single earners typically make. The median income for a single full-time worker is around $60,000. The national median for living comfortably is $89,000.

So there's a shortage there.

STU: And those are statewide numbers to point out. It's a lot worse in these cities.

Like, there was a time. I don't know this is eight to ten years old now.

When I remember looking at this. They gave you these guide lines, what you need to earn to buy an average home in the market. In the market of San Francisco, the -- several of the players on the roster of the San Francisco giants, did not earn enough money, to buy the average home.

GLENN: It's crazy.

STU: In the market.

GLENN: So let me go through this. Alabama, to live comfortably, $83,000.

Alaska, $96,000.

And I don't know if that's ever -- I don't know if you're ever comfortable living in Alaska, unless you can change the climate completely.

GLENN: Yeah. Right.

Arizona, $97,000. Arkansas, 79

STU: Gosh.

GLENN: California, 113. Colorado, 103. Connecticut, 100. Delaware, 94. Florida, 93.

Think of that. In Florida, it's 93. In Colorado, it's 100. Georgia, 96. Hawaii, 113. Idaho, 88. Illinois, 95. Indiana, 85. Iowa, 83. Kansas, 84. Kentucky, 80. Louisiana, 82. Maine, 91.

Why? Bear traps? Maryland.

STU: That's a northeast state.

GLENN: Maryland, 102. Massachusetts, 116. Michigan, 84. Minnesota, 89. Mississippi, 82. Missouri, 84. Montana, 84. Nebraska, 83.

STU: A lot of these -- these are like the bargain basement states. You are having $85,000 to live comfortably.

GLENN: I know. Yeah.

STU: That's just putting away some money for retirement. That's not living -- you're not flying private.

GLENN: I know. Yeah, but you're not living paycheck to paycheck. If you would live that way. If you would do 50/30/20.

STU: Right. Right.

GLENN: Nevada, 93.

Nobody does that. Do you know anybody who is young, that put 20 percent of their salary away for savings?

STU: Depends what you mean by young. As you're starting out, you're just trying to make it, pay your bills. As you get older, you're trying to put some money away.

GLENN: 20 percent?

STU: It's hard to do.

GLENN: Really hard to do. Nevada, 93.

STU: By the way, 50/20/30. What are the taxes on this one? This is post-tax revenue, I assume.

GLENN: Yeah. Where are the taxes?

STU: Another 30 is going to taxes. So which part of it are you taking out?

GLENN: That's why nobody saves. New Hampshire, 98. New Jersey, 103. To live in New Jersey. New Mexico, 83. New York, 111. North Carolina, 89. North Dakota, 52.

STU: North Dakota. This is -- this is hwy people go to the Dakotas, I suppose. It's --

GLENN: Is it worth Dakota, though? You don't even have the presidential thing on the mountain, that Dakota.

STU: That's true. Was that the Doug Burgum state?

GLENN: Yes, it is. Fifty-two.

STU: You got those eyebrows. They are kind of like -- on the Mount Rushmore of eyebrows. I don't know if that counts.

GLENN: Ohio, 80. Oklahoma, 80. Oregon, 101.

STU: Hmm.

GLENN: Pennsylvania, 91. Rhode Island, 100. Oh, my gosh, for Rhode Island!

South Carolina, 88. South Dakota, 81. Tennessee, 86. Texas, 87. Utah, 93. Vermont, 95.
Virginia, 99. Washington, 106. West Virginia, 78.
That's a state you could live in. Wisconsin, 84. Wyoming, 87.

Wow.

STU: First of all, the red and blue state is -- I don't know if it's perfect. It's darn close to perfect, as far as the difference is.

GLENN: It is. It is.

STU: You look at that, and you think -- it wasn't that long ago, that we would say, oh, my gosh, nap guy is earning six figures. Doing really well.

GLENN: Yeah.

STU: That's just not even doing really well.

GLENN: No.

STU: It's the way you're supposed to plan for your future. And now you need to earn six figures, in most states. Or at least close to most states.

GLENN: And it's going to get worse. That's the problem. It will get worse.

How will companies be able to keep up with it? How is that going to happen?

GLENN: The presses.
STU: Yeah. But eventually, people can't afford to produce the products that people want, and people can't afford to buy the products that they need.

STU: I mean, you just recited the slogan for Bidenomics. That's exactly --

GLENN: Yes, I did. Starts bottom up. Bottom up. First people to be heard.

The bottom. And eventually, it's heard all the way up.

The -- in another remarkable story, the IMF has come out and said, that Biden has got to stop money.

Printing money, and spending money.

The International Monetary Fund, sounded the alarm on the Biden administration's rampant spending as, quote, out of line with what is needed for long-term fiscal stability.

STU: No!

GLENN: Yeah. Yeah.

STU: What? It feels like it's right in line with the exact -- what you're supposed to do with each budget is spend trillions of dollars than you have.

I thought that's the way you're supposed to be fiscally responsible. What is the 50, 30, 20 number for the United States right now? It's like 80, 50, zero. Eighty, 50, negative 30. Right?

That's what we're doing. The savings is negative 30 percent of the budget. We're spending mandatories, like 80 percent of what we have. Then there's another 50 percent discretionary. It's insanity. And we're getting to the point very soon. Just the interest on the money already spent will be more than our entire defense budget.

GLENN: We will have to borrow over a trillion dollars a year, just for the interest.

STU: My God.

GLENN: I mean, this is unsustainable.

And I really don't understand, why more people can't see this.

STU: You keep seeing this word.

I don't think it means what you think it means.

What Would Happen if Israel RETALIATED Against Iran's Missile Attack?
RADIO

What Would Happen if Israel RETALIATED Against Iran's Missile Attack?

Iran’s attack against Israel made barely any impact (despite what Iran is telling its people). But will Israel strike back? It has the right to, and many Israeli leaders seem to want to, but SHOULD it? Glenn and Stu discuss whether it’s worth risking World War III, or whether Iran is too weak to do anything else.

Transcript

Below is a rush transcript that may contain errors

GLENN: Okay. So let's just recap what we know now, what happened over the weekend with the Iranian attack on Israel. First of all, the Iran state TV used footage from the Texas fire. Also, there was footage of One Direction.

STU: The band?

GLENN: The band. And it was Israelis, panicking while under attack while under missiles and drones. Unfortunately, it was just a throng of excited One Direction fans.

STU: Wow, the fact that those things look the same, may make you rethink things if you're a One Direction fan.

GLENN: It really does. They also use a picture of a forest fire in Chile. So, you know, they're running all kinds of lies. I don't know if their people understand that they really made no impact at all.

STU: I'm kind of -- look, I kind of hope -- this is weird. I kind of hope they are able to convince their people, that they made an impact.
Because maybe this will somewhat calm down.

GLENN: So the president boasted the attack had, quote, taught a lesson to the Zionist regime. They were chanting with their fists in the air, death to Israel. Death to America. Yay. And Hezbollah supporters were out in the streets, of southern Beirut, honking their horns and celebrating.

And they warned that Jordan would be the next target, if it took any measures in Israel's defense.

So everybody is just like holding back.

Except for Israel. Now, my goals may not be the same goals, as the Israelis. My interests are, let's not have any terrorism here in America.

And let's try to bring peace to the world.

Israel has played this game for so long. They're not going to sit back. At least the word we're getting from their -- their war committee, was that it was a brawl.

The defense minister stated yesterday, that Israel's confrontation with Iran is not over yet.

The public security minister demanded a crushing attack, against Iran. Another minister, declared Iran's audacity in such an attack, must be erased.

Meanwhile, Iran's mission to the UN said, should the Israeli regime make another mistake. Iran's response will be considerably more severe.

And warned the US to stay away. Okay. I don't know what they can do with their -- their missiles. Quite honestly.

I think it was embarrassing. If that were us, well, that would be us. Because Joe Biden is in charge. Maybe Joe Biden helped them with planning of this mission. But that were us. That would be humiliating.

Absolutely humiliating.

And, I mean, it's the -- wouldn't you say, it was the most lopsided thing you have seen, possibly ever? With the amount that they fought back?

STU: Yeah. It goes back to a couple of examples. The first gulf war.

GLENN: Yeah.

STU: Remember that.

GLENN: Except they fought back. And they did hit targets. This one hit -- they say three -- the outside is ten. That they hit ten -- that missiles hit ten things. They fired over 300.

STU: 300, right. The other one that comes to mind. The way we reacted in Afghanistan, when the Taliban started taking it over again. We kind of just all ran. And that -- that seemed -- that was embarrassing. I was embarrassing that way. The way I think Iran should be embarrassed this way. That's if their intent is to actually get a lot of damage. Look, we have an alternate theory. We talked about it yesterday.

They floated a bunch of flying lawn mowers over there. With 12 hours notice for a reason.

To say, hey. Shoot all these town.

We don't want to start an international war. If we don't do something in our country. Our people will overthrow us.

GLENN: So you're sitting in Israel.

And I say, Stu. What are you going to do? Now, you're an Israeli.

You're in the defense cabinet. And I say, what are you going to do?

Because the whole world hates us right now?

And if we retaliate, then we're in trouble. Should we just walk away and call this thing?

GLENN: Again, there's so much to weigh here. And I'm an idiot. But I will tell you, my initial instinct is, you have a free hall pass to --

GLENN: No. No. No. No. Your first impression is you're an to it. I just don't want that to get lost.

STU: The second impression was --

GLENN: The first one was, again --

STU: I'm an idiot. Number two. And I should not be making these decisions for any nation. We should be clear about that. That's not a good policy, because I'm an idiot.

GLENN: Sure. You're an idiot. You could work for the Biden administration.

STU: I will say, maybe I should leave the country. This one here, because it seems that's the path to success these days.

GLENN: Correct.

STU: But I will say, what my thought would be, is you have a free hall pass to do another Syria type of operation. Right?

You can -- of course, are justified. If I was an Israeli, you would be justified to launch at least 300 missiles towards Iran. You're justified morally to do so.

However, what I would like to do is tamp this down, so it doesn't inflame into something worse. If you were are to do something like they did in Syria. Where you took over some important, overseas. Not in Iran. Type of operation. That would actually benefit you.

Not like as a show of power or strength. If you're Israel, you don't need to do that. What you need to do is do something that would actually benefit you.

And I think it would be difficult for the world to be all that upset.

If you went and did another operation like that.

GLENN: I forgot.

I was going to say, no. No. No.

STU: That's a smart answer for an idiot.

GLENN: I forgot you were an idiot. It would be tough for the world to say.

You remember, you're a Jew here.

STU: Right. So they --

GLENN: They can say whatever they want.

STU: They can say whatever they want.

GLENN: They're always the pad guy.

STU: But there is a line.

The world wasn't overly outraged about the Syria operation in the first place.

Iran was.

And everyone was talking about what their response would be.

No one was like, oh, gosh. I can't believe they did that.

Some people did, of course.

Look, there was 150 countries, that voted not -- that voted to condemn Israel, over the whole Gaza situation.

And when given the opportunity, I think it was Austria, that proposed an amendment that said, hey. Shouldn't we condemn Hamas for October 7th in this thing?

Ask they voted no.

GLENN: Yeah.

STU: Of course, they said no to that.

At some level, you can't care at all, what some of these countries think.

They will just think, Jew equals bad.

But I think to not make this go over the top. And flame out of control.

And also, get and done, that you're completely justified for. And will benefit for your country.

If you can walk that line. If there's another target like that. That seems highly justified and appropriate.

What do you think? You're not an idiot, right? You're a doctor.

GLENN: I'm a doctor, so I'm not an idiot.

STU: Do you notice this? Does anyone in the audience, even notice he does this? He asks these tough questions, and he never gives his own answer. It's pathetic.

GLENN: Because I'm trying to move the show. I'm trying to move the show.

STU: Move the --

GLENN: See, you don't want me. You don't want me anywhere near the buttons of any -- for any country.

Because we would run out of missiles quickly.

Because I have -- I have a short attention span.

And I also have a short fuse. It would be like, hmm. They did what.

Yeah. Launch.

I would be over there, saying, the world is going to hate us, anyway. They're building a nuclear weapon supply.

We know now what they're capable of doing from the sky. That's great. But if they get a nuclear weapon over our border, any way, shape, or form.

Millions will die.

And we know they're serious. And the rest of the world, can say whatever they want. But take up out their nuclear facilities.

STU: In country.

GLENN: In country.

STU: Look, he's been wanting to do it for a long time. And I think that's entirely justified.

GLENN: He has to. He has to.

No one in the world will do it, until he ignites one of those things.

STU: That is true. It probably does extend this though, right?

That's the risk.

GLENN: Oh. It's going to --

STU: Netanyahu has been wanting to do this forever, and I think has been looking for an opening to do it.

GLENN: Justifiably so.

STU: Justifiably so. Again, I'm not being critical. If I were Israeli. I think probably I would be for a much more aggressive response.

GLENN: Enough is enough.

STU: But I'm not. And I'm -- I'm thinking more selfishly frankly as an American.

GLENN: Yeah. Me too. Me on top.

STU: I think that's appropriate for us to do. America first is a dumb sort of slogan, but also very true.

It's also misused by many factions over the years.

GLENN: Yeah. Correct.

STU: But, I mean, it is the appropriate priority list for the United States.

GLENN: If you're going to take care of somebody, you don't swamp the lifeboats. That is what we're doing with our border. We're swamping the lifeboats.

How had we help anybody, if we can't help ourselves?

How will we help anybody, if we're fighting terror here?

I don't want terror here. But we've already swamped the lifeboats with a whole bunch of terrorists, apparently that are already here.

But we're not doing anything about it. So my America first kind of has to go to, let Israel do what Israel cares to do.

They can handle it. They're big boys. They can handle it. We'll handle our thing over here.

Now, with that being said. I know that Iran will not let us get away with that.

Iran will immediately activity. They're already activating the people. Who do you think. Hamas is paid for by the Iranians. So when you're in New York City. And you're holding a Hamas flag, you are doing the bidding of the Iranians.

So they're already here. And it's coming. And I would like to delay it, quite honestly, as long as possible.

But, you know, let Israel be Israel.

By the way, we have a news from Israel's Channel 12 News. They carried a report, that the country's Air Force, which includes US-made 16s, fifteens, and F-35s are already gearing up to deliver a retaliatory counterstrike against Iran.

According to the report, the strike will be intended as a message that Israel will not allow an attack of that magnitude, to pass without reaction.

That's actually good. That's a good reaction from them. Because doesn't that sound limited?

I'm just looking for happy things.

Turning rocks. Oh, no. That's a friendly worm. That's a friendly bug.

The strike intended a message, Israel will not allow an attack of that magnitude, to pass without a reaction.

You’ll NEVER GUESS Who’s Behind the "Free Palestine" Bridge-Blocking Protests
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You’ll NEVER GUESS Who’s Behind the "Free Palestine" Bridge-Blocking Protests

“Free Palestine” protesters connected to the group “A15 Action” recently blocked roads and even the Golden Gate Bridge to demand the America stop supporting Israel. This caused Glenn and Stu to wonder if there has ever been ONE person whose mind was changed by these kind of disruptive protests. Glenn also reveals that this group is far from “grassroots.” You’ll never guess who is paying for the bail and legal fund for A15 Action...

Transcript

Below is a rush transcript that may contain errors

GLENN: The free Palestinian protesters.

STU: Yeah.

GLENN: Love them.

STU: They're doing a great job out there. In the streets. Blocking airport access for people.

GLENN: Bridges. Bridges.

If I were in San Francisco traffic. And I had to use the Golden Gate Bridge, and you blocked it, I would be having great thoughts about you.

You could be there and saying, you know, we love Jesus. We love Jesus. And by the end, by the time I got home, I think I might hate Jesus, because of you. You know what I mean?

I'm serious. It's the fastest way to turn me against you, is to block me from going home.

STU: Right. And I mean this sincerely. Has there ever been an example of this tactic working?

Has any person, in history, ever been convinced by not being able to access the thing that they wanted to go to?

Gosh, you know, I was really pro-Israel. And then I got stuck in traffic for eight hours. And now I love the Palestinian cause. Has that ever occurred?

GLENN: No. No.

But here's the good news.

They are being arrested.

And they're being immediately released.

Yeah, because there's somebody stepping in to give them bail money.

And legal support.

Yes. Yes, so it is. Come on. Come on. Come on. Guess. Guess. Guess.

Come on.

STU: Kamala Harris.

GLENN: No. That's too obvious.

STU: Kamala. Tweeting. Tried to bail out criminals.

GLENN: Yeah. But not this time.

STU: Thanks, Kamala.

STU: More obvious?

GLENN: Yeah. More obvious.

STU: George Soros.

GLENN: George Soros.

STU: We figured it out.

GLENN: George Soros is bailing people out. Now, who would have seen this coming?

The protest which took place in dozens of US cities, including San Francisco, Chicago, New York City, Philadelphia, were organized by A15 Action. A newly formed group, that worked to coordinate, a multi-city economic blockade, on April 15th in solidarity with Palestine.

You know, I really -- I forgot, you're blocking me, from going home on tax day. That makes me even more favorable to your point of view.

STU: Uh-huh. Uh-huh.

GLENN: The group's website, directs users to bail and legal defense fund, hosted through Act Blue, the Democratic Party's online funding juggernaut. Those who donate to the fund, the Act Blue page said, are sending money to the community justice exchange, which provides money, bail, court fees, and fines and other legal services to community-based organizations that contest the current operation and function of the criminal, legal, and immigration detention systems.

Oh, my gosh!

The exchange is the project of? Come on. Come on. You've got George Soros.

Come on. Who else is in there? What organization? Come on.

STU: Open Society.

GLENN: Oh, that's good. That's good.

Think bigger. Think bigger. What do they start?

STU: Oh, gosh.

GLENN: The Tides Foundation. Yes. The Tides Foundation.

It's a network funded by Soros and other liberal billionaires. The protesters, who organize the global event, under the title A15. Targeted economic choke points, with the express purpose of causing as much financial disruption as possible, according to their website.

You know, that's the kind of thing I really want to be involved in. I go to the websites. And I'm like, I don't know.

How can we inflict as much damage on this country, fiscally as possible? And then I realized, I've already done my part. I voted for people in Congress.

And so, really, that's all you have to do. There's nobody that can do more damage that than people in the House and the Senate.

That's why I don't protest. Anyway, the A15 protesters on Wall Street, were photographed wearing Hamas bandanas and flying Hezbollah flags.

STU: But they're just -- Glenn, they're just --

GLENN: They're for the people.

STU: A humanitarian cause.

GLENN: Absolutely.

STU: That happens to also.

GLENN: Problem with the Hezbollah flag.

STU: Right. Hamas. Hezbollah. They seem like wonderful people.

GLENN: Banks located to the protests were vandalized with red stray paint and graffiti that read, funder of genocide, and free Gaza. Those protesters later blocked the Brooklyn bridge. Which is one of my favorite bridges to block.

STU: Oh, really? See, I only like to get the Brooklyn bridge.

I like to sit in traffic on the Brooklyn bridge, for 12 to 15 hours.

For climate-related purposes.

I like the bridge for Gaza purposes.

GLENN: Yeah. I do really want to know. Those people who are Gluing themselves to freeways and things.

Because whatever. I don't listen to you. I just look at you, as a moron. So I don't really check in on you what you're protesting for.

STU: I am of the opposite.

I will absolutely oppose anything that you're doing.

If you are -- if you're Free Gaza. I'm going to -- if I was pro-Palestinian, I think I would flip my viewpoint just based on the fact that I was sitting in traffic.

GLENN: Well, see, I don't look. Because I never think it's anything I'm for already.

STU: It never is. More capitalism!

That never happens.

GLENN: It's not like, I'm gluing myself to the freeway because I like steaks.

No. Not happening.

STU: No. You're right. That's true.

And I don't think it's any secret of their success. Right?

The left does a lot of things strategically that I think are -- are -- I don't want to say admirable. But like things that are -- if conservatives can benefit from learning a little bit from, at times. Not necessarily, certainly not the ends.

And some of their tactics are down right evil. Some of them are smart. They message things well, at times. There are certain things they do.

You can look at. This is not one of those tactics, I won't want to keep up.

You're taking -- you're taking life, and you're making it bad for the people you're trying to convince. This is the opposite of what you're supposed to do.

GLENN: Okay. Let me just point out. How do you learn that lesson, when you've burnt cities to the ground?

STU: Yeah. And everybody in the city is like, I support you. I don't think they did, though. Did they?

Even in Minneapolis, the defund the police thing, died on the vibe. None of this stuff has worked.

Like, there are certain parts of the movement, right?

That have occurred. I think you can even look at those. I don't remember anyone blocking streets for gay marriage.

Right?

I don't remember that. They worked, they tried to persuade people over a long period of time. And were successful.

GLENN: Be really hard to not just step on the gas.

I saw a guy who was trapped by these people. And someone glued themselves to the freeway in Germany or something.

Don't piss the Germans off. Man, don't do it. Especially if they're driving a Volkswagen. Hello!

But, anyway, he was -- the guy was trying to get through, and these people were sitting there. And one of them was glued. And he just kept going. And they were like, what are you doing? You're trying to kill us. And he's like, no. Just trying to get through.

And -- and he did almost kill one of them. But he got through. He got through.

And, you know, I didn't have a lot of sympathy for the people that were glued to the streets. And maybe that was just me. But I don't know how they expect this to work. Other than causing real damage. Kind of like Occupy Wall Street. I don't know. Did it work? Did it work?

I contend it did.

STU: You think Occupy Wall Street worked?

GLENN: Uh-huh. Why did they go away? Why did they go away?

STU: They kept raping each other all over the place. Lots of rapes.

GLENN: Lots of rapes. Lots of bad things. Why didn't they go away all of a sudden?

They had everything. They had the media on their side. They had Hollywood on their side. They had everybody on their side. What happened?

It's almost, I'm going to go out on a limb here. It's almost as if the big banks. And all the big corporations got together and said, look, just leave us alone.

Like me, I always joke. Someone comes into my house.

Just leave me alone. You can do whatever you want to the wife and children. Just leave me alone.

It's almost what they get, I think. Look, just leave I say alone.

Why did their funding of all of these things that BLM, and the extreme left was all about?

Why did they start funding all of those things coincidentally, just about the time that Occupy Wall Street left?

Why?

Leave us alone.

And we'll fund you. Leave us alone, and we'll help you.

I think that's what happened. So when you say, well, gluing them themselves to the streets.

I don't know. I don't know. Except, they're blocking I, now. And not the big bankers.

And I'm not sure you have anything they want, besides, oh, I don't know. Oh, everything of yours.