RADIOMarch 13, 2023

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.

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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

A Complete Sellout?! Harley Davidson's Woke Agenda EXPOSED

Harley Davidson is seen as an all-American company. But recently, filmmaker Robby Starbuck exposed Harley Davidson's internal commitment to woke DEI initiatives. Starbuck reviews what he found: holding "explicitly racist" anti-white trainings, funding "all ages" Pride events with questionable activities, donating to extremely progressive groups ... "This is a complete sellout of common sense," Glenn says. So, why would Harley Davidson go woke? And will the company reverse course with enough customer backlash?

Transcript

Below is a rush transcript that may contain errors

GLENN: So I don't know if you know the name Robby Starbuck. He's a filmmaker. And I know Matt Walsh. Rightfully gets a lot of credit for, you know, exposing the pediatric transgender clinic in Nashville. But it was actually Robby and his wife, that actually exposed that. And Matt picked it up and ran with it, and changed a lot of things. He has been exposing those companies, that are all in on DEI and LGBTQ and everything else. He's exposed John Deere. Gosh, what are the other companies that he's done?

Big ones. I mean, Bud Light did one commercial with a transgender person. And they were almost destroyed.

He now has exposed Harley-Davidson. I just want to go over what Harley-Davidson is doing. Harley-Davidson is, as you know, one of the most beloved American brands out there.

Harley and Indian, to me, are more American than -- than Chevy and Ford. I mean, these are true American brands.

And what he found is a complete sellout of, I think, their customers. And a complete sellout to -- of common sense.

He just -- they just sold common sense out. It's gone at Harley-Davidson. Robby is with us now, to explain exactly what he found, and what we can do about it.

Robby, how are you?

ROBBY: I'm doing well, thanks for having me, Glenn.

GLENN: You bet. And thanks for all your hard work on this. You've done some amazing things. So expose Harley-Davidson.

What did you find at Harley-Davidson?

ROBBY: Well, you know, it's pretty incredible. When somebody came to me first with Harley being one of these little companies after we went through Tractor Supply and John Deere, I didn't believe it. I kind of had a hard time believing it. Because the Harley brand is like this macho brand, and, you know. Everybody knows somebody who has a Harley.

And it's so diametrically opposed to who they are. So we kind of pulled the thread. And as we looked into it, you know, lo and behold, in these stainability reports, which usually reveal a lot about the company.

We found that they had put 1800 employees through these woke trainings, including one group of employees, specifically white males.

They sent to a white male only diversity training. And if you look at the company that does this, it's not like, trust me. It's not a favorable training.

You get the worst training. You get the one that white people bad. You know, white men have a specific, you know, place to have to behave a certain way.

It's explicitly racist in my opinion. When you go further down the line, they have a plan to what they call diversify.

Their supply chain. Which is really just corporate speak for we want less white people. And you think about that -- just the idea is just so far and away from what the American dream is. It should be about merit. And who are the best suppliers. Who is providing the best stuff?

How do you do all this? So if you force diversity in your supply chain, what's going to happen to safety, what is going to happen to all these other things? Because you have this benchmark that you want to reach. And so all these arbitrary benchmarks pop up. But then there's also the pride stuff. They're funding events. They fund one pride event that was considered, quote, all ages. Where it was described as a rage room, in the marketing materials, for people who need to let off steam.

And that's right across the area where drag queens interact with kids, for story time.

And they play catch with Dad area for anybody who had daddy issues. And I'm not joking. That's actually, those were the three things that were next to each other.

Okay? That's a sponsorship for events like that. It is so diametrically opposed to the values of Harley riders. And they're also a founding member, a platinum founding member of the Wisconsin, LGBTQ plus Chamber of Commerce.

Which, I would question, why does there even need to be a Chamber of Commerce, for what type of -- you know, I think that's pretty weird.

GLENN: I know. It's very weird. It's very weird. They also make February, March -- they also made February, March, months of inclusion.

Because we need three months? Not just Pride Month?

I mean, the money they have donated now to the United Way, promoting, you know, Antiracist Baby. You know, the Ibrahim Kennedy thing. They have a Pride ride.

Let's see. They have events at their corporate offices. Their legal department has -- has -- is being celebrated for its racial equity and literacy challenges. I mean, it goes on and on and on.

ROBBY: That is insane, by the way. Yeah. That permeates the legal industry. Just so people know. That 21-day training is something that is happening, you know, pretty much throughout most of legal America, if we could call them that.

And it's one of the craziest trainings out of them. They're right up there with the United Way 21-day -- they have the 21-day equity challenge United for Equity, is what they call it.

It's some of the most explicit, Marxist training programs you could possibly have, pushing, you know, the landmarks to disorganization, to you know, reparations. And people like, you know, Ibrahim Kennedy and Robin DiAngelo.

You have the whole list of these left activists, for not just the Democratic Party. But kind of for modern day communism. That's what they're pushing through.

GLENN: So Harley-Davidson is -- and a macho guy's bike. Always been. An American bike.

And I don't see a lot of transgender business going Harley-Davidson's way. What -- I mean, I know one of my close friends, that I work with, owns a Harley.

And he said, everybody in my bike club, is just -- their eyes are bleeding. They're so crazy about this. Because they just feel Harley-Davidson has betrayed them.

What are -- what is Harley-Davidson's reply?

ROBBY: So there's no response yet. But, you know, I would caution that in the case of Tractor Supply, it took three weeks of us continuing with the story and not letting it go. Releasing little bits of information every day, for them to relent and turn back on everything. In the case of John Deere, it took a week for them to backtrack on a good portion of the stuff that we had -- in Harley's case, I don't know if they can wait a week. They have Sturgis Rally, which if people don't know, it's a big biker rally that happens August 2nd.

And Harley has a booth there. I don't think -- and they have an event there, actually, too. I don't think that they want to talk to all these bikers out there, about this program and all of these donations. And what they've allowed corporate offices and everything. I think they would probably like to clean this up before then.

That would be my guess. If they don't, they are dumber than I thought they were. I think they're doing this to please a certain element within the sort of financial world that's pushing these DEI scores and everything.

GLENN: Uh-huh.

ROBBY: And it's not just -- as much as I would like to say it's BlackRock pushing this stuff. Because I have my issues with BlackRock and with Vanguard and State Street. On more insidious things, the real poison is -- you know, the woke mind virus is a virus. It's carried by somebody.

And it's carried by the HR people who have come out of these colleges, totally indoctrinated into leftism. And so their job when they get inside there is, okay. Spread the virus through the whole network.

And so they'll use societal down points. Societal pressure points. Like what happened with George Floyd. As a way to put pressure on the higher ups to say, hey. We need to do this. To respond effectively. We need to show our employees that we care.

So the higher ups, in many cases, they just relent because they don't want to look racist. They don't want to look bigoted. At least that's how it used to be.

Now, a lot of those executives are looking for a way out. We have had executives reach out to us, and beg us to go after their companies in the future.

Because they want an excuse to get rid of DEI, which I think it's still cowardly.

Because it's still going backwards. We have companies we really need to go after.

We have now, at this point. Since we started this against Tractor Supply, over a thousand whistle-blowers.

So we are just trying to scale up the operation to work with all these people and go through all the documents and evidence that has been handed over to us, so that we can look at, you know, how have these great corporate American brands betrayed their customers and the values, especially the ones that depend on conservative America?

Because if we can't save them, then we can't save our country.

GLENN: So, Robby, I really believe all of this started, because of Occupy Wall Street.

You know, when you look at -- it was -- they were -- they were, you know, camping right in front of all of the big financial firms.

All of the banks. All of, you know, Wall Street. And corporate.

And then all of a sudden, it just kind of stopped and went away. And I -- I am absolutely convinced that a deal was struck at that point. Don't come after us. We'll help you.

And it was right around that time, that all of this money, from these financial firms, and from corporations, started to go these radicalized groups. For the first time.

And I think this was a deal cut, by the banks and by the giant corporations, just stick it on the American people. We'll be your ally.

We'll help pay for it. And now they're destroying their own businesses.

ROBBY: You know, Glenn, there could be an element of that. And I wouldn't doubt it in the slightest. I almost think it's even more insidious that be that. Because the long march to the institutions. Corporations are not exempt from that. And there's been an element of these -- you know, folks that I would say, are really, really, deeply committed to Marxism. Who they have embedded themselves in every segment of the American life.

GLENN: Yes. Yes.

ROBBY: And I think they've done a much better job at it, than we have as conservatives, protecting our country. And that's really on -- you know, we could go on and on about who is at fault for that. But honestly, it doesn't matter. The people who are here now, like you and me and others, we need to be -- we need to be the line. You know, we're the line that says, okay. We're pushing back.

We're not just defending. We're going on offense. And that's what we're doing here. It's like, we have to go on offense, and take back some of these institutions. And that will help through election. It will help through getting Trump into office. It will happen a lot of different ways.

But you have to go through each one of these institutions.

I'm more concerned about this people embedded inside. How do you get rid of those people? The people who -- even if you beat back DEI, if you don't get the whole department fired, are going to reinvent it in some other name. You know, that's the real virus at this point. It's like, how do you get that out of the company?

GLENN: Robby, I'm big fan of what you do and your wife. Make sure you say hi to her for us.

Please let us know. We'll continue to watch. But please let us know how you can help.
Thank you for exposing it.
ROBBY: Appreciate it.
GLENN: You bet. Buh-bye.

Robby Starbuck. You can follow him on Twitter, and follow the story.

It is -- this one was a big one.

John Deere was bad. Tractor supply was worse. This one is crazy bad.

Tulsi Gabbard: Why "Anti-Democracy” Elites Are FORCING Kamala Harris on Voters

The Democrat Party claims to be the champion of "democracy." But Party elites seem to be practically coronating Vice President Kamala Harris to be their 2024 presidential nominee - WITHOUT consulting the voters. Former Democratic presidential candidate-turned-Independent Tulsi Gabbard joins Glenn to explain what's going on: "It is just a facade. [The nomination process has] already been wrapped up." Plus, Gabbard explains why Harris is NOT a moderate "unity" candidate. In fact, she may become the most progressive Democratic nominee ever. And Tulsi also discusses whether she would accept an offer to be Secretary of State or Defense in a second Trump administration.

Transcript

Below is a rush transcript that may contain errors

GLENN: Welcome to the program now, Tulsi Gabbard. How are you, Tulsi?

TULSI: Aloha, my friend. It's great to talk to you, always.

GLENN: By the way, I'm pushing for you to be the Secretary of Defense if Trump would win. I think you would make a great Secretary of Defense.

TULSI: I appreciate that. I think there will be opportunity, should Trump get elected, to serve as Secretary of State or Secretary of Defense. Be in a position to actually begin to reshape our country's foreign policy, to one that Trump has advocated for all along. One that puts the interests of the American people and our country first, and prevents from us getting into these unnecessary counterproductive regime change wars, and begins to enact those policies that allows our country to succeed.

GLENN: So I never thought of you as Secretary of State. That is an interesting idea. That might even be better than Secretary of Defense. But, anyway, let's talk about Tulsi Gabbard. I'm sorry. Kamala Harris.

Kamala is probably the most left candidate we've ever had. And she's being really installed by the Democratic Party.

I want to talk to you about the installation here in a second.

But first, what would we be getting from a cam Harris?

JIM: You know, the Democrats themselves tout President Biden as the most, quote, unquote, progressive president our country has ever seen. And this was supposed to the guy who was going to come in and be a moderating influence on the Democratic Party. The guy who said that he would unite all Americans and serve all Americans. And from day zero, he did exactly the opposite in dividing us by race. And enacting these radical, woke agendas, that are hurting our children, hurting our education system, hurting the safety of our communities. I could go on and on. You talk about these issues all the time.

We've talked about foreign policy. Really, when you look at Kamala Harris, you can expect more of the same. But worse. I think what it comes down to is just the need for us to make sure that we remind voters over and over, as we head into this election, even if a Democrat has changed their horse in this race, the substance, the policies, and, quite frankly, the real decision makers behind the scenes. Who have been pulling the strings.

Whether it's Robby Mook from Hillary Clinton's campaign. Or Tony Blinken Biden's.

You know, decades with President Biden. Or President Obama's lackeys in the White House.

These people were making decisions over the last three and a half years.

They're going to continue to call the shots. Which means we can expect the same disastrous policies that we have seen and worse.

GLENN: I really think that Biden was forced out.

I think they held something over his head, either the 25th Amendment or, you know, hey, look at your son. We may not be able to stop the impeachment proceedings because of the Hunter stuff. And they gave him a deadline of Sunday.

This is all my speculation, by the way. Gave him a deadline of Sunday, and he folded.

And I don't -- I mean, it's clear, that he's not running the country. He's not really running the presidency.

Because why -- why are you okay to be the president, but you're not there enough to run a campaign. That makes no sense.

But then they pick Tulsi Gabbard to replace her.

And it's surprising --

TULSI: Kamala Harris. Kamala Harris.

GLENN: Barack Obama is not for it.

What did you say?

PAT: Kamala. You said --

TULSI: You said they picked Tulsi Gabbard. They picked Kamala Harris.

GLENN: Oh, gosh. I'm so sorry.

TULSI: If it was me, I'm telling you, we would be having a very different conversation here.

GLENN: Yeah, I know we would. I knew we would. I know we would. I'm sorry. They picked Kamala Harris. And I don't think she's going to be running the -- the presidency either. I agree with you.

But who is actually -- who is this cabal?

Shouldn't we be asking that question and getting that answer?

TULSI: We absolutely should, Glenn.

You know, it's the people who are invested. Ultimately, it's those who -- whose power relies on having a figure head that they can role.

So, you know, you can look at some of the people that I have mentioned already. Who have been around Hillary Clinton. They are Hillary Clinton's lackeys. President Obama's lackeys.

People who have been with President Biden for a long time.

It's the military industrial complex that profit from our country being in a constant state of war.

It's those who are -- who are the unelected people in the national security state. Whose ability to -- to control and take more of our liberties. Again, relies on us being in a constant state of war. It's their friends in big tech and propaganda media.

Who benefit from them having access to that power, and that information.

And it's the big money billionaires. Yes. It's the George Soros source.

But others. Reid Hoffmann and others. Who are -- are being -- who are incredibly influential, beyond belief.

Because of their money and their ability to exert control. Fundamentally, what is at the heart of this?

All these different people who make up this cabal of woke warmongers.

Of course, Hillary Clinton is the lead of that.

They are people who don't care about our country.

And they don't believe in the Constitution.

And they're trying to remake this country into something that is their utopia of some sort. But that devise the very foundation of what our country was founded upon.

GLENN: So you were a Democrat. You still -- we still would disagree on many policies.

But I respect you. Because you're at least honest, and love the country.

And I truly believe, that there are millions of Democrats, that are all across the country that I may disagree with, but they love the country. And they don't want to see it fundamentally destroyed and transformed.

They don't agree with these policies. And they've been so brainwashed. That they don't stand up, against -- they believe that Donald Trump is the threat to democracy, and they don't see what their own party is doing.

How is it they can go out and vote, and then have these delegates, and these superdelegates, disregard that vote, entirely.

And say, no. This is who you get.

How are they not up in arms, Tulsi?

TULSI: Well, first of all, let's just go back, there were a number of states that did not even hold primaries. And so to -- and those that would not allow other Democratic candidates. Because, you know, obviously, Bobby Kennedy was running to be the Democratic nominee.

GLENN: Right.

TULSI: There was a member of Congress. I can't remember his name at the moment. Who was running. Obviously, Marianne Williamson, and may have been a few others who were running to be the Democratic nominee. Many other states would either not allow them on the ballot, or did not hold primaries at all.

So the Democratic party, led by President Biden, that claims to be the champions of democracy, would not even allow a democratic process within their own primary. So the anti-democracy initiative began there, and it continues through. So we shouldn't be surprised to see what they are doing today. You know, they are trying to pretend that this is not a coronation of Kamala Harris. President Obama saying, oh, you know. This will be brought to the convention, and delegates will have the opportunity to choose who the next Democratic nominee for president will be.

GLENN: Delegates.

TULSI: But we know that's just a facade. It is just a facade. It's already been wrapped up.

GLENN: Tulsi, thank you so much. Appreciate it. I know you've got to run. And you've just been overseas. And keep it up. Thank you so much.

TULSI: Thank you, Glenn. I appreciate you. Talk to you soon.

GLENN: You bet. You bet.

"They Basically Let Him Get Shot”: Secret Service Vet Dan Bongino Demands Firings After Trump Attack

Former Secret Service agent Dan Bongino joins Glenn as a guest to review the latest insane revelations about the security failures at the July 13th Trump rally: “They just let the line of sight threat exist…they basically let him get shot.” Bongino and Glenn review some of the basic questions that Secret Service Director Kimberly Cheatle failed to answer during her congressional hearing: Why didn’t she have a timeline of the day’s events? Why did the failed assassin have a drone, but the Secret Service allegedly didn’t have any aerial surveillance? Did Cheatle communicate with White House officials on messaging about the attack? Will she turn over her cell phones? Bongino also reacts live to the news that Cheatle has resigned.

Transcript

Below is a rush transcript that may contain errors

GLENN: Dan Bongino, good friend. Welcome to the program. How are you, sir?

DAN: Hey, good to talk to you, Glenn. Doing okay.

GLENN: Dan, I remember when we first met, you were still on presidential detail. And I said that you were standing in the room with these guys, while I was on the air. And they hated me.

And because of their reaction, you started really paying attention, to what was being said in those rooms. And I told you, I'm really concerned about the security, of the president.

Because I was on the outside looking at you, and people like you. And seeing the Secret Service being completely inept from the top. Not necessarily the agents.

It's gotten so bad now, Dan. And I'm not sure that it is -- they're being inept. I'm not sure what the hell is going on.

DAN: Yeah. These problems aren't new. And there's a lot of kind of -- Johnny-come-lately commentary on this, on the left-wing media good news.

But the reality is people like me, were calling attention to this problem over a decade ago.

And, you know, I have the receipts to back it up. You can go look at interviews I gave to the Washingtonian, a book I wrote, called Protecting the President.

All while diagnosing all the problems with the Secret Service. You will read the book. You're going to say, gosh, did he write this ten minutes ago? No, I wrote it ten years ago. And what wound up happening.

You know, a subject you're probably unfortunately familiar with is, the left-wing media, rather than analyzing Glenn Beck, Mark Levin, Hannity, and Dan Bongino say, they go on attack mode right away. They just don't like us.

See, I don't feel the same about them. If I hear something from the left-wing media, I can independently vet.

It doesn't mean it's naturally false. Unfortunately, a lot of times, it is. But the irony is they claim to be journalists. They attack me as a conspiracy theorist for telling -- for telling folks on my show in August of 2023, it's Episode 2079, if anyone wants to listen from last year. Where I said that Donald Trump was likely going to be hurt or killed.

I was getting that information from high-ranking Secret Service sources. Who were very troubled by the minimal security posture applied to Donald Trump.

And the repeated requests for enhanced security, that was being rebuffed.

And Daniel Arkin, from NBC wrote a piece. You can still read, because it's embarrassingly still up. Calling me a conspiracy theorist, saying, I was stating this without evidence. Without ever having speaking to me, or asking me what my evidence was. So, you know, if you listen to shows like this and your program.

You know, you're six weeks, six months, six years ahead of the news cycle. You're listening to the liberal media, you're consistently stunned by attempts like this on Donald Trump's life, thinking, what happened?

GLENN: So tell me your gut at this point. And I know I'm asking you to go on limited facts, because they're not releasing everything.
But you have inside connections.

Is your gut -- does your gut tell you, this is just more of the same incompetence, times a thousand? Or is something nefarious going on?

DAN: Well, listen, the ladder, I can't answer. One thing I never do is I never go down road, where I don't know if it ends up off a cliff. Because then you wind up like the left-wing media. Oh, look, there's a pee-pee tape out there. Have you seen it? No. I don't know if it's nefarious.

I can tell you, the level of incompetence leads naturally to the second question: You're not crazy to ask it. But the level of incompetence here is stunning. Because people think in threes and nuggets and pieces of information.

I'm going to give you a couple of chunks of information here, from over ten years of experience. And having worked with three presidents. Two Democrats and a Republican.

Having done hundreds of advances and having actually done four foreign lead advances too. So, you, I know what I'm talking about.

To number one, why was President Trump on the X? We recall the X. Why was he out on the podium at all?

It's a question that nobody can answer. It's also the question in the hearing yesterday.

If you go back and listen to it, the director, Kim Cheatle, a failed human being, who disgracefully, still sitting in a job, putting a nation at risk from incompetence.

It's why she won't answer the time line question. Did you notice how cryptic she was?

She won't answer the time line question, because she gives you a time that is recognized. Then the obvious next question is, well, if you knew there was a threat, up to an hour out, potentially 18 minutes out, depending on who you believe.

Why was President Trump walking on the stage, in the middle of a -- getting scoped out, and range located by a sniper? And she can't answer it.

GLENN: So, Dan, so -- but her answer will seem to be in the coming days, that while yes, but we didn't have communications open with the people that were there.

Those were local.

Don't you have a command center, that --

DAN: Yes. Don't waste your time.

You just said it. Don't even -- I don't care what her answer is. It's called the command post. Glenn, you have zero experience as a Secret Service agent. You're a very talented radio guy.

Even you knew that. You never worked in the Secret Service. You're like, wait. Didn't they have a command center? Here's the answer.

Yes. It's called the CP, the Command Post.

Every single law enforcement entity working that operation had either a representative or a radio in there.

There is absolutely zero chance the Command Post did not get information that they were working to suspicious mail, surveilling the outside of the perimeter with a range finder. There's zero chance.

So when you ask questions like, well, how had he walked off stage? The answer is such incredible gross incompetence. I don't blame people for saying, there's got to be something more here.

I just don't know that. All I'm telling you is that the failure here is so apocalyptic, everyone there on that advanced team should have resigned the next day. The director, the deputy director, all of them.

How they still have jobs is incredible. Let me throw one more thing out at you.

Let's just say all of the director's stupid stories are accurate. They're not. Let's just say they are. The roof was sloped.

It was hot that day. Whatever ridiculous excuse you make.

I've read problems in the past, where we could not secure a line of site problem.

We didn't have enough bodies, whatever. I had a sight with Hillary Clinton. Just didn't have enough bodies to secure a dorm room, looking out at her speech sight at Hofstra University. You know what I did?

I have them go out, get a 5-dollar can of that snow spray, that fake snow.

Why would I do that? Because I sprayed the window. Because I figured, listen, if we can't mitigate this line of sight threat, and this potential sniper, at least we can block the line of sight so they can't see what they're shooting. Sometimes it's the best you can do.

They didn't even do that. They didn't even do that. They just let the line of site threat exist.

And the counter surveillance, which is a piece of paperwork, the countersurveillance team looks at, that will show that they knew that that was a vulnerability. And yet they did nothing about it. They basically let him get shot.

GLENN: They haven't released that, though, have they? That document?

DAN: No. They will claim it's classified. It's not. And here's another two pieces of paperwork. There's a survey, called the CS survey. The Countersniper Survey. That Countersniper Survey will point out every single elevated high point in the area.

That will be on there, and you will see something. I will break this later on my show. I'm not trying to be cryptic or funny about it on your show. I'm just working the angle right now, and I want to be sure I'm correct. But that specific high point, there's a major, major fiasco that happened there.

There was a communication lapse, that is totally unforgivable. But the countersurveillance and countersniper survey will show that that high point was a vulnerability. And then they will have to answer questions like, when that wasn't posted, when he was on stage.

And allowed that person to get up there. Because there was no post there or nothing. Why didn't you guys follow up?

The Secret Service is ultimately responsible. Why didn't the sight agents just notice that one of the posts they had wasn't there?

I mean, this is an unforgivable, unfortunate series of events, that basically caused this. There's no other explanation.

GLENN: So I had Eli Crane on. The Congressman from Arizona, that was up on the roof.
And posted a video, up at -- yesterday.

And he was standing in the barn, if you will. Right behind, where the shooter was.

And he's on the second floor.

Inside, air-conditioning. In an office.

And it has a window, that looks right out on that roof!

If it was too hot or dangerous, why were they on the first floor, and not on the second floor, looking at the roof!

DAN: Glenn, again, the incompetence here. These are hard interviews for me to give because of the questions you're asking. Again, as a guy with no Secret Service experience at all -- my wife asked me the same questions.

She's a database developer.

They're not explainable. Other than absolute, abject ignorance and stupidity. Whoever gave the advance that day. I don't know how they still have a job.

I really don't, and here's another thing: That -- here's the third question. I brought up the line of site. I brought up the paperwork.

There's another question that needs to be asked.

How did you not deploy -- we have an aerial surveillance branch in the Secret Service.

Why was the aerial surveillance, a drone, a helicopter, a -- an infrared -- a thermal. Why were these -- why were these simple tools we use over and over, not employed that day?

You would have seen the guy on the roof, the second he got up there.

You know, Kim Cheatle, the failed director, said yesterday at the beginning of the hearings, you go back and listen: We employ a 360-degree security coverage. Well, 360, is a three-dimensional sphere.
That means above and below. Well, where the hell was the above coverage?

There was nothing above. We didn't have a drone. Glenn, go to Amazon right now. Get a drone for 40 bucks. We couldn't send a drone up in the air?

You have a 6 trillion-dollar federal budget. What the hell is the federal government good for? Why was there no drones? The answer is, again, absolute stupidity.

And how these people have not been fired or resigned, is really deeply disturbing at this point.
The government has no accountability whatsoever.

GLENN: Dan, when I heard the congressman yesterday.

DAN: Wait. Glenn, hold on.

I'm hearing breaking news, that the director may be leaving very soon. So I'm just getting this now. So we may --

GLENN: Oh, good. Good.

DAN: I predicted this last night. We'll see what happens.

Yeah, she has no political support. But the Biden/Harris team doesn't want the headache. The Democrats have bailed on her. This woman needs to go. She's a disgrace. I'm getting this from a Secret Service friend now. Said, and she's out.

So whether he's got something we're breaking on your show or not, but this guy has been a reliable source for me.

GLENN: Tell me, when I heard the congressman yesterday say that, have you used any kind of encrypted apps to communicate with anyone.

I was shocked to hear her say yes.

But when -- when -- I don't know if congressman -- or, you know, are smart enough to think this way.

But I know I really try not to ask a question, especially, if I'm -- if I am in a situation, where I'm trying to prove somebody wrong.

I make sure I kind of know the answer to the question. Before I ask it.

That way, when we come back to it later. I've got her on the record.

What the hell is -- on her private phone. That's against the law.

DAN: Well, because we've been friends for a long time. I'm not going to spin your wheels.

There are two people on this phone call.

And one of them may have contributed to the asking of that question. So you could probably figure out by the fact that -- so, yeah.

They're -- Cheatle has no friends, anymore in the Secret Service.

They are horrified by her leadership. Let's just say a friend of a friend of a friend of a friend, may have sent to a friend, exactly that question. Who passed to a friend of a friend of a friend of another friend. And it made it into the hearings. That's what --

GLENN: What was the friend of a friend of a friend saying that we should get that on the record for?

DAN: Because the communications may -- may have involved communications with significant White House officials on messaging. And it may have involved.

GLENN: Oh, my gosh.

DAN: Yes. So we'll -- we'll see what comes out in the wash. Now, keep in mind.

GLENN: Did it maybe involve this -- this event?

DAN: Oh. Oh, yeah. That's a distinct possibility.

I mean, we will have to find out. I don't know the exact content. Because I don't have her phone.

But her agreeing to turn over her personal phone for forensic analysis to Lauren Boulder, who asked all the right questions, by the way. They should take her up on that offer. I can almost guarantee her, she will bail and lawyer up, if she's asked to turn her personal phone over.

Or she's probably deleting messages right now.

GLENN: Unbelievable.

Dan, as always. Great to talk to you.

And I'm so happy for your success.

Nobody deserves it more than you, Dan.

DAN: You're a food friend and a mentor. So I love you too, brother. Thanks, man. Thanks for having me. I appreciate it.

Glenn Beck Reacts: Secret Service Director RESIGNS After DISASTROUS Testimony

Secret Service Director Kimberly Cheatle has finally resigned 10 days after the attempted assassination of former president Donald Trump. But Glenn says, "that should not close this case by any stretch of the imagination." Glenn and Pat discuss Cheatle's resignation and her disastrous testimony to the House Oversight Committee the day before.

Transcript

Below is a rush transcript that may contain errors

GLENN: The head of the Secret Service is resigning. Or appears to be resigning. But that should not close this case by any stretch of the imagination.

Pat and I want to go over some of the audio from yesterday. Let's start with Comer, with Cheatle struggling to answer any of his questions. Cut 11.

VOICE: At any point Saturday did the Secret Service have an agent on top of that roof?

KIM: Sir, I'm sure as you can imagine, that we are just nine days out from this incident, and there's still an ongoing investigation. And so I want to make sure that any information that we are providing is factual.

VOICE: Okay. Why did the Secret Service not -- can you answer why the Secret Service didn't place a single agent on the roof?

KIM: We are still looking into the advance process and the decisions that were made.

VOICE: Okay. Okay.

Wasn't that building, within the perimeter that should be secured? Do we agree with that?

KIM: The building was outside of the perimeter on the day of the visit. But, again, that is one of the things that during the investigation, we want to take a look at and determine whether or not other decisions should have been made.

VOICE: One of the things that you said, I believe in an interview, that there wasn't an agent on the roof, because it was a sloped roof. Is that -- is that normal?

And to a fear that that immediately creates an opportunity for future would-be assassins to look for a slanted roof?

I mean, this is a huge question that every American has.

Why wasn't a Secret Service agent on the roof.

And there have been reports that agents were supposed to be on the roof. And it was hot that day. And they didn't want to be on the roof. Can you answer any of those questions, Director?

KIM: Sir, I appreciate you asking me that question, Chairman.

I should have been more clear in my answer, when I spoke about where we placed personnel in that interview.

What I can tell you, is that there was a plan in place to provide overwatch. And we are still looking into responsibilities, and who was going to provide overwatch.

But the Secret Service in general, not speaking specifically to this incident, when we are providing overwatch, whether that be through countersnipers or other technology, prefer to have sterile rooftops.

VOICE: Did the Secret Service use any drones for surveillance that day?

KIM: Sir, I will not get into specifics of that day --

GLENN: Stop. She couldn't answer anything yesterday. Not one thing.

PAT: No.

GLENN: If you were the head of the Secret Service. It's been over a week now, you're the head of the Secret Service, you walk into people's office, the minute that happens and say, I want answers right now.

PAT: Who was in charge of oversight? Right?

It takes two minutes to find that out. Come on. It doesn't take ten days to find that out.

GLENN: Right. We're still looking into that. Are we?

Now, she had a problem with Jim Jordan as well.

Here's cut 20.

VOICE: Take to the president and the First Lady?

KIM: No, I have not.
VOICE: Talk to the White House staff, anyone in White House communications?

KIM: No. I have not.

VOICE: Have you talked to the countersniper that took the shot that took out the bad guy?

KIM: Yes, I have.

VOICE: And can you tell us about that conversation?

KIM: I would not want to reveal conversations that I've had with my employees.

PAT: Oh, jeez.

VOICE: But that's exactly the kind of information the American people want to know. The American people who pay your salary.

KIM: I understand. This is an ongoing investigation --

VOICE: Who is all doing the investigating at the Secret Service?

I know the inspector general, but is there also an internal investigation in addition to the inspector general?

KIM: We are conducting a mission assurance investigation internally, yes.

VOICE: You know what it looks like, director? It looks like you won't answer some pretty basic questions. It looks like you got a 9 percent raise, and you cut corners when it came to protecting one of the most important individuals. The most well-known individuals on the planet.

A former president, likely the guy who is going to be the next president, looks like you guys were cutting corners. That's what it looks like to me.

PAT: Hmm.

GLENN: Let's go to Cut 27. Here's Andy Biggs.

VOICE: Your agency has a no-fail mission. And on Saturday, July 13th, your agency spectacularly failed.

The failure resulted in the death of Corey Comperatore, and serious injury to two other rally attendees, David Dutch and James Copenhaver, besides the injuries to President Trump.

It's unfathomable, that a 20-year-old on the radar of Secret Service and local law enforcement before President Trump went on stage, was able to climb on to the roof of a building with a rifle.

And fire off multiple rounds before he was neutralized.

Was Mr. Crooks acting alone?

KIM: Again, I would have to refer to the FBI's investigation.

VOICE: Was he just a lone gunman?

KIM: I would have to refer you to the FBI's investigation for motive.

GLENN: That's not motive. That's asking, she revealed something there, on motive.

Don't you think?

Of us he acting alone? You'll have to talk to them about motive. Well, wait. No, that's a different answer.

PAT: That doesn't seem to go to motive. So that's interesting.

GLENN: No. Yeah. AOC.

I mean, the left was tearing her apart as well. Here is AOC cut seven.

VOICE: So the notion of a report coming out in 60 days, when the threat environment is so high in the United States, irrespective of party is not acceptable. And I think it's very important to understand that.

This is not theater. This is not about jockeying. This is about the safety of some of the most highly targeted and valued targets. Internationally and domestically.

In the United States of America.

So the idea that a report will be finalized in 60 days, let alone prior to any actionable decisions that would be made, is simply not acceptable.

It has been ten days since an assassination attempt on a former president of the United States.

Regardless of party. There needs to be answers.

PAT: Wow. Felt a little --

GLENN: That's the best thing I think I've ever heard her say.

PAT: Oh, by far. By far.

Felt a little bipartisan there, yesterday, a little bit. Didn't it.

GLENN: It did. Because as we've been saying on this show forever.

The president of the United States. The current one. If he's not dead already.

PAT: Yeah.

GLENN: You know, he's in danger.

Kamala Harris is in danger.

RFK is in danger.

We cannot have a -- a slew of assassination attempts.

PAT: Yeah.

GLENN: Can't! God forbid one of them die, it will tear this country apart!

Here's another Democrat. This is Moskowitz from Florida. Democrat to Cheatle.

Cut ten.

VOICE: Director, I just want to give you an honest assessment of how this is going for you today. Did you happen to catch the hearing many months ago, in education, where there were a bunch of university professor, university presidents and Elise Stefanik asked a very easy question and couldn't get an answer?

Did you see that hearing?

KIM: No, I don't think I did.

VOICE: Okay. Well, let me tell you, it didn't go well.

And the short end of that story was, those university professors all resigned. They're gone. That's how this is going for you. This is where this is headed. Okay?

This is -- I don't know who prepared you for this. I don't know how many times you've testified in front of Congress, but a president was almost assassinated live on television, not just for Americans. But for the world, to see.

And this being your first opportunity. I understand there's an ongoing investigation.

I understand there are things that you can not talk about. But the -- the idea that we're getting less than you did, on television, is something that Democrats, independents, and Republicans are going to find unacceptable.

GLENN: Uh-huh.

Now, there was Nancy Mace, who was a little more plainspoken. Cut 12.

VOICE: Was this a colossal failure?

KIM: It was a failure.

VOICE: Yes or no? Was it a colossal failure is the question. Yes or no.

VOICE: I have admitted --

VOICE: This is a yes or no series of questions. Was this a colossal failure? Yes or no?

KIM: Yes.

VOICE: Have you provided a list to the oversight committee? Yes or no?

KIM: I will have to get back to you on that.

VOICE: That is a no. Have you provided all audio and video recordings in your possession to this committee, as we asked on July 15th? Yes or no?

KIM: I would have to get back to you.

VOICE: That is a no! You're full of (bleep) today. You're being completely dishonest.

GLENN: Love that.

And then we have Representative Fallon, who said this to Cheatle, cut 13.

VOICE: You know what else is dangerous? I believe your horrifying ineptitude, and your lack of skilled leadership is a disgrace. Your obfuscating today is shameful.

And you should be fired immediately. Go back to guarding Doritos.
(laughter)

PAT: She used to work security at Pepsi. That's why she was guarding Doritos. That's great.
(laughter)

GLENN: Yeah. I found that amazing. When the assassination first happened. I looked her up.

And I'm like, where did she come from?

And I saw she was head of security from Pepsi. And I'm like, you've got to be kidding me.

You're now the head of the Secret Service?

PAT: Well, how many Doritos, do you know were killed during her watch? None. None.

GLENN: None.

PAT: Not a single Doritos was murdered while she was there.

GLENN: And especially all those Coke lovers out there. That just want to knock off cans of Pepsi. She had her job cut out for her.

PAT: She did. She did.

GLENN: It was very difficult.

Oh, my gosh. Now, here's what I'm afraid of. That this is going to stop this investigation.

Because it can't. It cannot stop this investigation.

She has -- she -- we have to know what her device is. What's on her devices.

Why was she using signal when talking to the White House, from her own personal phone?

That's against the law. Did the White House know that that was happening? What were they talking about?

That's really important, to find out.

PAT: Uh-huh.

GLENN: And I -- I think everybody on that Secret Service detail, should be brought in front of Congress, and have to answer themselves.

You know, it's one thing to be told, shut up. Sit down. Shut up. Don't say anything.

It's another, when you're going to be blamed for it. On national television.

So are you telling me, when you went and you surveyed the site, that didn't occur to you, that that was a big problem?

That you should have somebody secure of that. Is that what you wrote down in your report? Is that --

PAT: But --

GLENN: You should be fired right now.

PAT: They couldn't, Glenn. Because there was a slope. It was hot.

And we were -- this is just breaking. The sun was in their eyes.

GLENN: What kind of pussywillows do we have on the -- I mean, that's what we should call the Secret Service presidential detail, the Pussywillows. We're out here. It's hot. I don't know.

PAT: I don't want to get on a sloped roof. There's a 3 percent grade there. I'm not getting out there!
(laughter)
I mean, come on.

GLENN: It's unbelievable.

PAT: You didn't exactly have to be a mountain goat to navigate that roof. It's almost flat.

GLENN: Unbelievable. No. No. You really didn't. You really didn't.

PAT: Oh, man.

GLENN: I mean, it is -- it is their -- they're just -- I question the manhood of every single person, that was on the Secret Service detail. Or on the local detail, if they were like, it's hot!

It's very hot.

PAT: Right.

GLENN: Who do we have Dylan Mulvaney out?

Dylan, you watch the roof. Okay. But girl power.

I'm not going to walk on that roof. It's hot and sloped.

PAT: And I'm on my heels today. I'm in my heels. I'm not doing it. All right. Okay.