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

Glenn is SICK of Hearing THIS About America
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Glenn is SICK of Hearing THIS About America

Glenn has heard a lot of talk lately about how Americans should hunker down and beg the government for help because the destruction of Baltimore's Francis Scott Key may affect our supply chain for a long time. But Glenn is "SICK" of hearing what America CANNOT do. Instead, Glenn asks us to remember who we are, what we've done, and who we came from. We invented skyscrapers, built the Hoover Dam, and answered the Great Depression with some of the biggest marvels of engineering ever accomplished!“Stop tearing everything down," Glenn says, "and let’s start BUILDING.”

Transcript

Below is a rush transcript that may contain errors

GLENN: All right. I want to give you this -- I want to give you this story today. The immediate upshot for Americans on this bridge collapse. If you're waiting for a new car to come in from overseas, prepare to wait longer. The port of Baltimore stands as the nation's leading import/export site for cars and light trucks. It's also the leading nexus for sugar. And gypsum. Which is used in fertilizer, drywall, and plaster. A record 52.3 million tons of foreign cargo was transported through Baltimore just last year.

The bustling port is cut off now after the 1.6-mile bridge crumbled and fell into the river early Tuesday, blocking the only shipping lane into the port. The port is one of the busiest in the US, and saw a record of 52-point-million tons of foreign cargo transported in 2023.

The officials have said the time line for rebuilding the bridge is, quote, years. We will do everything we can to protect those jobs and help those workers, the president said yesterday. The port of Baltimore creates more than 15,300 jobs, with 140,000 jobs linked to the activity at the port. This is a major disaster, and will continue -- and will create significant problems on the east coast, for US importers and exporters. The bridge collapse will mean for the time being, it will not be possible to get to the container terminals, or a range of the other port terminals in Baltimore. The Maryland Secretary of Transportation told the reporters Tuesday, that vessel traffic in the Port of Baltimore would be suspended until further notice, but noted the port is still open to trucks. So we still have trucks going in.

As soon as we clear the bridge, we can get vessels in.

But it's going to be a major hassle for -- over time, for cars, et cetera, et cetera.

An expert on property damage cases in the shipping industry, told the New York Post, that the collapse will have a major impact, on shipping and traffic routes in the east coast, for the foreseeable future. It's not -- quote, it's not going to get fixed any time soon.

It's going to take a lot longer than anyone expects. This is going to be a major problem for the northeast. I'm sick of this. I am absolutely sick to death of all of these stories, that say things like that.

Have we forgotten who we are? Have we forgotten what we've done?

Let me just take you on a little journey here for the American spirit. A spirit so potent and so vibrant, that it has scaled towering mountains. Mountains nobody thought that they could cross. Constructed marvels of engineering. Have you ever been to the Hoover dam? The skyscraper was invented here. Here we are on the threshold of tomorrow, none of us know what is happening tomorrow. None of us. But I'm getting the impression that we've been so beaten down, that we believe we're not going to make it tomorrow. Can I just remind you of who we come from? Our ancestors what they did. Our history, if you just look through it briefly, you will see a group of people, that never take no for an answer. And can do anything. I want to stop just briefly in 1930. The great depression had its icy grip on us. It was a time like the -- where everybody felt the flickering candle. In the vast darkness. It was just barely there.

Yet, it was in this crucible of adversity, that Americans did great things. The Empire State Building rose. It wasn't just a structure of steel and stone. But it was a beacon. A beacon of hope and American resilience and ingenuity. The way that thing was built, no one has ever seen anything like it before and since. In a record-shattering one year and 45 days, an army of workers, as many as 3400 men on certain days, they transformed this audacious vision, into a cowering reality.

The guy who was funding it knew, this thing better come in under budget. And we have to get it here fast. Or this will just destroy all of us.

The Empire State Building wasn't constructed. It was conjured into existence, with a symphony of clanging metal and roaring machines. And, quite honestly, the inexhaustible spirit of its builders.

Their stories. The men who were perched on the steel girders. That were being felony in by giant cranes, and they sat there. They whispered tales about how they could still feel the warmth of the freshly poured metal beneath them. That beam was still warm, even though it was poured in Pittsburgh.

And then pit on a train, then put on a boat. Then put on a truck. Then hauled up into the air. They could fill the warmth. It was moving that fast.

It was a feverish pace of construction. It seemed to defy the laws of time and physics.

For a long time, it was the tallest building in the world. An architectural achievement. It was also a declaration to the world, that America was a land where the impossible became possible. Determination. Innovation. A relentless will to succeed.

Yeah. That's all old, dusty history. Why even look at that? Pause they're not merely historical footnotes. They are blazing torches, illuminating our path forward. They remind us or are supposed to remind that you say when we're faced with adversity, we don't just endure it. We overcome it. We don't wait for history to chart our course. We write it with the sweat of our brow and the strength of our backs. That's who we are.

Have we forgotten that?

It's going to be years. We find ourselves at another crossroads, America. Faced with the challenges that threaten to dim the bright future that we all dream for, for our nation, for our children.

The spirit that build the Empire State Building, that laid down miles of railroads. That cut through the Rocky Mountains.

That sent astronauts to the moon.

It's still inside of every heart of every American, somewhere. Awaken that spirit.

Scale new mountains. It's not just rock and earth. Scale the mountains of innovation and stainability.

Build. Not just physical structures. But a future that upholds the spirit of adventure and hard work and ingenuity.

Stop tearing everything down, and let's start building.

Well, we might have another president. You know, who is out there? Who could we?

Why are we waiting? If this isn't a national emergency, I don't know what it is. And I don't mean the bridge. I mean all of it.

Well, our government has to lead. Really? Really?

Does it?

Maybe that's our problem. America is led by its values and its principles, that are found in the soul of those who still remember who we are, and who we serve.

Americans led the way. The government always follows.

Yeah. Well, we can't act without them.

Bullcrap. Where are the bridge builders who will stand up today, and say, I'll get it done?

As soon as that happens, you'll see who is leading, and who is stalling. The government is the one that stalls the engine out. To expect more from our leaders is rational. But to expect the most from ourselves, is essential.

We are the architects of our destiny. We are the builders of our dreams. There's a huge task that's right in front of us. I still believe we can tackle that. We can overcome anything.

The history of America is a tapestry, woven with the threads of bold endeavors. Monumental achievements. Blood, the blood spilled at the Empire State Building, and every other path to greatness. Let's harness the potential, not for glory. Not look at us. Oh, we're the best. We're the best. But because we understood -- we understand that in the pursuit of a better world, action is not just an option. It's our duty.

I often wonder, as I look into the horizon now, in today's America. Is that a sunset or a sunrise?

It depends on you. If Americans rise with the determination that carried our forbearers through the trials and tribulations. If we build with love and compassion and an unbreakable commitment to the spirit of daring adventure and hard work and ingenuity, we restore ourselves and our country.

In the words of our ancestors that are etched in every American heart, somewhere, you can do it. You can become anything. You can do anything.

That doesn't make it easy. It doesn't mean you deserve. You deserve it. You can do it. Because it's hard. And it's in doing the hard things, that we find the best of ourselves. That's why everything that's going on is not necessarily a curse.

It's an honor to serve at this time. Because we can find the best of ourself.

We can step forward into the dawn of a new day with our eyes wide open to all of the problems of the past and the possibilities that are right in front of us.

But we have to resolve to make those possibilities our reality. We are Americans. There is nothing we can't achieve, when we all stand together. United by our dreams, and driven by the will to see them fulfilled.

Don't listen to anybody else that tells you the differently.

The CRAZIEST Baltimore Key Bridge Collapse Theory Yet???
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The CRAZIEST Baltimore Key Bridge Collapse Theory Yet???

It didn’t take long for people to cry foul when a cargo ship crashed into Baltimore’s Francis Scott Key Bridge and knocked it down. But while there’s still no hard evidence of a cyberattack or terrorism, Glenn, Pat, and Stu have another … weirder … theory: Has anyone seen Transportation Secretary Pete Buttigieg lately? Because there have been A LOT of transportation-related tragedies under his watch …

Transcript

Below is a rush transcript that may contain errors

GLENN: So the bridge, Stu has a theory on this -- this Baltimore bridge collapse.

STU: I do not. I would not say I have a theory at all. I'm just saying, look, it wouldn't make any sense for this to be a terrorist attack the way it happened. 1:30 in the morning. Like, why would you do it that way?

Maybe you would argue, it was some sort of a test run.

PAT: Or just to disrupt our infrastructure.

STU: I don't know. But it doesn't seem like it will be that serious, in that. These places are able to -- it doesn't seem like. Like all the reporting is, they're able to reroute to other ports.

I mean, it has to affect Baltimore pretty seriously. Obviously, traffic will be affected. If you're going for a major terrorist attack. First of all, 1:30 in the morning is a weird time for it. And, of course, the warnings from the ships and all these other things.

Beyond that, I'm looking at a broader picture here. And I'm -- again, I'm not saying this. What I want you to know, I'm not saying this.

PAT: Okay. What are you not saying?

STU: I'm not saying that Pete Buttigieg individually, is going to each one of these things and -- like unscrewing Boeing doors before the plane takes off. I'm not saying he's doing that.

I'm not saying he's loosening tires off of planes. I'm not saying that. That would be incredibly impossible. What I am saying, should we check his house, to see if he has scuba gears. Let's check it out. Why not go into his garage and see, Pat. Maybe he has a couple of -- you know, a couple of -- I don't know.

Rubber suits. That might be for other use. I'm just saying, can we at least check? We should at least know that.

PAT: Maybe he has a Phillips screwdriver or something.

STU: Right. Does he have -- it would just be interesting to know, what type of --

PAT: It would. Yeah.

STU: Underwater diving gear, the man owns. Like, does he happen to have a mini submarine in his garage? That would be something we should know.

PAT: That would be weird.

GLENN: First of all. First of all.

As I said, they always return to the crazy -- the scene of the crime.

So he never shows up after one of these.

He disappears after this.

STU: Yes.

GLENN: Have I noticed that?

We never hear him talking about anything transportation. Have you heard him actually, you know, standing in front of a United airliner going, we're going to shut this thing down, until we figure out why the United Airlines keeps losing doors and wheels. And I heard the steering wheel or something, the other day.

STU: Right.

GLENN: Why? Where is he on that?

So he never shows up at the scene of the crime. So that immediately goes. It's also way too much work for him.

PAT: It's true.

GLENN: He would have to learn things, like how to put the mask on. Which I think is beyond his capability. You know, how do I -- the scuba gear goes where exactly. And you don't want to use it after him. After he tries it. I'm just saying, I don't know.

STU: I think, look, there are a lot of reasons to believe that Pete Buttigieg isn't responsible for each one of these things. It would be insane. It would be a crazy development, by all accounts.

GLENN: Yes, it would. Right.

STU: However, how else do we explain this?

PAT: It would be unprecedented, if it were our transportation secretary.

STU: I would agree, you be precedented.

PAT: Never in history, has a transportation secretary sabotaged so much transportation.

STU: Right.

GLENN: Can we look at the bright side, however?

That would be more than any transportation secretary has done probably in the history of transportation. I never know what they do.

STU: This is a good point.

Who knows the name of any other transportation secretary.

Yet, we all --

GLENN: You have chow.

STU: Yeah, Chow was one. And the other one that popped into my head was LaHood. Because back in the day. But not for, hey, he's screwing up all of our infrastructure.

It was like, oh, well, he's sort of a notable figure that occasionally comes up in policy conversations. This guy has overseen disaster movie sequel, after disaster movie sequels since he has this job.

We have American institutions. Boeing is just like, eh, we can't keep planes in the air anymore.

Like, what?

Why? Why has all of this happened under his watch. It's like he's trying. It's like he's Michelman. He's tied to -- we now have more footage to show in disaster movies, because of this guy. Allegedly. I mean, I don't think he is intentionally derailing trains across the country.

It does seem weird, that ever since -- we should look to see if he has a wedge or tools that would allow him to do it.

GLENN: You know, I would say the fact that everything is being derailed, would lead me to believe, that it's not one man.

STU: It's probably not. It's probably not.

GLENN: This is not bad -- the entire -- the entire country is going into a bridge abutment.

STU: That's true. That's true.

PAT: It would explain why we never see him though. Because he's always off skulking into one of these places, loosening some bolt.

STU: It's probably not him loosening bolts. It's probably not. Probably not.

PAT: Probably not.

STU: But wouldn't it be easy to rule it out. Let's toss that -- let's toss the individual possibility, that Pete Buttigieg is flying around the country, disabling our infrastructure.

Let's just rule that one out. It has to be easy to rule out.

PAT: I would feel a lot better. You know, I would. Even though, I understand, it's a --

GLENN: Call his husband. And find out, was he in bed with you, last night, or the night before, when this thing hit the bridge abutment. Just find out.

STU: Just find out. It's an easy one to rule out.

PAT: It did.

STU: Until we rule it out. He should go back on maternity leave.

That's all I'm saying. He shouldn't be employed on this job, as if it's a possibility.

GLENN: Oh, I see what this is. You just want him out as the transportation secretary. You are such a bad man.

PAT: Could that be it?

GLENN: Is it homophobia? Is that what's happening?

STU: It's definitely not homophobia. He can be as gay as he would like to be, while on paternity leave. In fact, I would encourage it. It would be almost odd if he wasn't, right?

But like, what I'm saying is, ever since this guy took this job, we have done show after show after show, out of --

PAT: About disasters.

STU: About transportation infrastructure collapse. What is happening -- like, why not just, either he's individually doing it himself.

Or maybe another possibility, is everything this man touches, gets destroyed like he's Ivan Drago. Maybe that's the thing.

GLENN: I have to tell you. I don't even know if he -- I think this is just -- this is just now four years of absolute incompetence.

The companies are all being distracted. From what they have to do. So they can meet new governmental mandates on bullcrap that mean nothing to any of us.

And this guy. This guy, I don't think he knows what his job is. I really don't.

STU: He seems to be terrible at it.

GLENN: Do you? This has and whenever he's involved in something, tragedies ensue. Again, we talk about these problems. With the border.

I don't know. What do you do? You have to make sure you're closing the border to illegal immigration. Before you're worrying about the immigrants that already cross.

You have to stop the flow. There's a leak. You have to stop the leak. Turn the water off. Then fix. With this. Shouldn't we turn the water off here?

Get this guy away from this thing first.

And then we'll figure out some of the other tails.

Whatever he's bringing to the table, is weighing down the table, and the table is collapsing. Can we do something about it?

GLENN: This is the best entertaining conspiracy theory, that I've heard in the last 24 hours. This is good. This is good.

STU: I don't think -- it would be absurd to picture Pete bite judge in a scuba outfit.

I mean, like, if somebody were to Photoshop that, and give it to us, and put it on Twitter.

That would be silly.

PAT: Irresponsible. Irresponsible.

STU: Irresponsible. He can't possibly do it. Let's confirm he doesn't have the equipment to make it possible.

Let's rule it out now!

GLENN: Have we seen close-up pictures of the American Airlines flight. When it was taking off, losing the tire. Was there a parachute after? Was he up in the wheel of -- as they took off?

Just, you know, like one of those poor Afghans, that were just like, I'm going to go to America. And he's like, wait. I'm not done.

I'll unloose the bolts here. I would like to see a close-up. Was he driving a tanker up Dr. Truck, last June 11th, and left it on I-95, in Philadelphia.

That bridge. When that caught fire.

PAT: Let's see who the driver was.

STU: Let's look. If you have the CCTV footage. You see a little guy scampering from the bridge right after. I would like to know, who is that?

Is that a leprechaun, or is that Pete Buttigieg? I want to know who that is. These are basic questions, we can ask, honestly.

And my goal here is to exonerate Pete Buttigieg.

PAT: Clear! Clear the air.

STU: That's my goal.

GLENN: Well, I don't think -- before you said this, I don't think Pete Buttigieg came up as a suspect.

STU: Hell. It would be so outlandish, right?

PAT: People were afraid to say it. Thank you.

STU: It was.

GLENN: Is that what it was?

PAT: We're saying what everybody was thinking, stupidly.

STU: But other people would say --

GLENN: As Jon Stewart said, saying the things that nobody is thinking. That's what he's doing now.

STU: Right. It could be. It could be. But then other people might say, it's the most logical explanation, that he's just going around and doing it himself. Why else would all of this happen. And that's why I just want to exonerate him. And let him get back to his wonderful family.

PAT: Real considerate of you.

STU: Yeah. And I think too, we should consider. For this particular role, whether paternity leave should only happen after the birth of a child. Maybe it should be like a constant thing.

Like a, whenever you need it, you take it.
Just go ahead. Go on leave. Right now. And maybe take eight to 12 years off.

GLENN: That would be good. Okay.

STU: Just in case, you know.

GLENN: Okay.

STU: These are just possibilities.

GLENN: Pat, thanks for standing and watching the whole thing burn with me. It's been fun.

"I Was Probably Drunk": Alex Jones APOLOGIZES for Calling Glenn Beck a CIA Agent
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"I Was Probably Drunk": Alex Jones APOLOGIZES for Calling Glenn Beck a CIA Agent

Years ago, InfoWars host Alex Jones accused Glenn Beck of being a CIA agent, and it caused some serious consequences. But in a recent BlazeTV exclusive interview on Pat Gray Unleashed, Alex apologized for the incident, admitting, “I was probably drunk when I said that,” and thanking Glenn for his work over the years exposing the global elites’ plans. Glenn responds to Alex’s apology and reveals the "peace offering" he gave Alex the last time they spoke about their past disagreements.

What We Currently Know About the Francis Scott Key Bridge Collapse in Baltimore
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What We Currently Know About the Francis Scott Key Bridge Collapse in Baltimore

A cargo ship that lost power has crashed into the Francis Scott Key Bridge in Baltimore Harbor, causing the entire bridge to collapse. Thankfully, traffic on the bridge was reportedly stopped before the crash. But the incident has many people asking: was this an accident or sabotage? Former assistant Treasury Secretary Monica Crowley, who helped spread the word of the incident, joins the Glenn Beck Program to discuss what we currently know as the search and rescue operation continues.

Transcript

Below is a rush transcript that may contain errors

GLENN: One of my favorites Monica Crowley is with us. She's a former assistant Treasury secretary. My gosh, Monica, how have they trashed that Treasury? They are just looting it like crazy. Anyway, I saw Monica, you post something this morning, and I couldn't believe my eyes. Can you tell us what happened?

MONICA: Yeah. Good morning, Glenn great to be here like always. America is waking up to real tragedy this morning. The Francis Scott Key Bridge in Baltimore Harbor, it's a massive span. And for those of us who live in the northeast, Glenn, I can tell you, I have crossed that bridge many a time, going from New York to Washington, and back, right?

GLENN: Oh, I have too.

MONICA: It is a major, major artery in the northeast. And at about 1:30 a.m. Eastern Time this morning, a cargo ship was approaching the bridge. And the video that I posted, which is now everywhere on social media.

GLENN: We're watching it right now.

MONICA: Yes. And it's all over TV as well.

GLENN: Go ahead. Yeah.

MONICA: It is a massive cargo ship. And it's under a flag, so the ship itself is registered in Singapore. And you can see in the video, that it approaches at Scott Key Bridge, and it loses power, Glenn, twice.

Not once, but twice in the moments leading up to its approach to the bridge.

GLENN: Oh, my gosh.

MONICA: And so, yeah. It -- it -- you can see in the video, it loses power twice. It regains power, but by that moment, Glenn. It's too late. And they can't get away from one of the massive lanes supporting bridge. And the cargo ship goes right into the piling. And the entire bridge collapses like a house of cards. just folds in on itself, right into Baltimore harbor.

GLENN: You know, I noticed, because I watched this video, a couple of times, after you posted it.

And I couldn't believe it was like toothpicks falling apart. When they had -- when you first start watching it. You'll see, the traffic is pretty steady on the bridge.

And thank God, right at the time it collapses, not a lot of cars, if any, were on the bridge. Do you know if there were cars on the bridge?

MONICA: Well, thankfully, if there's any silver lining on this horror show, Glenn, it is 1:30 in the morning. So it's relatively light traffic.

And you can see headlights of cars going both ways. And the moments the cargo ship, hits the bridge.

It looks like very few cars, if any, are on the bridge.

What we're hearing this morning, pardon me. What we're hearing is that two people have already been rescued, God bless. There are at least seven people missing that we know about.

So there is a very active search-and-rescue going on. The Coast Guard is out there. The National Transportation Safety Board is on site. The Navy is there. Navy divers are in the water, and have been there for hours.

And so we hope and pray that any victims that fell into the water in their automobiles and in their trucks, there's at least one semi that we know of, that collapsed into the water with the bridge. Glenn, so we hope and pray, that all of these people, who were part of this unfortunate accident. And at least now, it does look like an accident. And we will wait for the investigation. But we hope and pray that everybody will be rescued, and will be okay.

GLENN: So, Monica, do we know anything about the ship.

Because the first thought is. The power goes out. Then it comes back on. And the poor captain, man, you can see him just trying to turn that ship as fast as he can, when the power goes on. Then it goes out again.

Do we know?

My first thought is, is this some sort of a -- you know, a -- some sort of an attack with -- on electronics. Was there -- is there -- has anybody else thought of that? Or is it just me and my sick, twisted paranoia, I guess?

MONICA: Well, I think that too, Glenn. And we will have to wait for a thorough investigation here, in a lot of different areas.

There's one report that I saw this morning, that indicated that the crew, and apparently there was one pilot and two captains on board. And, of course, an additional crew, which you would expect for a vessel of this size and magnitude, under an international flag. Again, Singapore. And there is one report this morning, that indicates that the crew alerted the Maryland Department of Transportation when they were leaving the port, that they had lost control of the vessel. And again, I don't know how reliable this report is. But it's up on the New York Post website this morning. So, again, I don't know if that report has been vetted. But, you know, most of these vessels now, are under electronic control. Not unlike some of our voting systems. And might very well be -- might very well be open to hacking by nefarious players here.

So, again, we will to have wait and see. I mean, sometimes the cigar is just a cigar. And accidents unfortunately do happen.

GLENN: Right. And I hope that's the case. But with all the cyber terror that is predicted, I just -- you know, I know we're all on high alert for that.

Monica, thank you very much for reporting and calling in. I appreciate it. God bless.

MONICA: Oh, it's my great pleasure, Glenn. Thank you.

GLENN: So we have an update on the bridge collapse. The Fort McHenry Bridge. Very important bridge and port in Baltimore.

Here's the update that is pretty remarkable.

STU: Yeah. Apparently, the ship was able to issue a mayday, and say they were experiencing a power issue. And this enabled transportation officials to halt traffic on the bridge, at the last second.

I mean, if you watch the footage, you can see the cars crossing the bridge as normal, up until the very last second. And all of a sudden, they just stop. And you just kind of assumed, it was a break in traffic.

But, apparently, they knew something was wrong, and were able to stop it. I mean, they must have saved dozens of lives by doing that. So that's an incredible part of the story.

GLENN: These -- these -- yeah. These guys are heroes.

If you're watching TheBlaze right now, we're showing you the bridge collapse. It is absolutely unbelievable.

And you can see how the boat is trying to turn, as sharply as they can. And then the lights -- the lights come back on. They try to steer it away. And then it goes out, at the second time. And it's too late, and the whole thing collapses. It's remarkable.

Jeez. And they've now -- that port is closed. I'm not saying that this is by any stretch of the imagination, other than it reminds me of, the cyber attack on -- I think it was a Navy ship, wasn't it?

That was in the South China Sea. I'm pulling this -- I'm sorry. I have CRC. Can't remember crap.

But it was in the South China Sea. And it -- it lost control. And it made a circle.

And then rammed right into an oil tanker. Clearly controlled by somebody else.

I'm not saying this -- that's what this is. This is probably just mechanical error.

But we have to start thinking about those kinds of things now. Because they're all possible.