RADIODecember 06, 2022

How the Fed's digital currency could END ECONOMIC FREEDOM

Right before Thanksgiving, when Americans were distracted with travel plans and family feasts, the Federal Reserve announced it is testing its own CBDC (Central Bank Digital Currency). Carol Roth, former investment banker and author of ‘The War On Small Business,’ joins Glenn to detail how this CBDC is the OPPOSITE of decentralized cryptocurrencies that interest millions of Americans. Yet, the Fed is trying to confuse Americans into believing the two kinds of digital currencies are just alike: ‘It’s a new scheme to maintain power and control.’ Plus, Roth explains how this CBDC — if it becomes the norm — WILL END our economic freedom...

Transcript

Below is a rush transcript that may contain errors

GLENN: Carol Roth, how are you?

CAROL: Glenn, you're sounding very feisty for a Monday morning. I'm not sure I can handle this. But coming up the weekend here.

GLENN: I have to tell you, I can't take the mainstream media, and half of the country, that is like, that's a conspiracy theory. What? That you're stupid?

That you don't pay attention.

That you can't read?

What is the conspiracy theory at this point? Because all of the things that people like you, people like me, we have been talking about now for years, are just being verified, one right after the other.

CAROL: Yeah. I think the definition of a conspiracy theory at this point is something that the media will report on three years later after we all knew that it happened.

GLENN: Exactly right. Exactly right. There's a difference between conspiracy theories and conspiracy facts. So let's -- let's talk about the -- the facts -- let's start with the CBDC. The central bank digital currency.

CAROL: Yes. First of all, CBDC is not a bar at New York City. So this is actually something different.

GLENN: Right.

CAROL: But it is tied into the monetary system. And basically, this is something that more than 100 countries around the world, who are losing control of their Fiat currencies, because of their government overspending. And because of their central bank printing. They're trying to come up with a new scheme to be able to maintain that power and control. So the idea of the central bank digital currency is to confuse you. People are interested in cryptocurrencies because they're deindustrialized and because they don't have that centralized power. And so they're trying to glom on to that interest and say, oh, yeah. We're just like that. Except for, they're exactly the opposite. They are completely centralized. And they give entire control to the central banks. So imagine today, you know the Treasury prints up a Federal Reserve note. We call it a dollar, route?

And imagine that dollar had a chip in it. And so when you went to go pay with your dollar, the fed was trapping you. The government was tracking you and saying, nah, you know, Glenn, you've had too many burgers this month.

We really don't want people eating meat because it's bad for the environment. So this dollar is no good anymore.

This is what a central bank digital currency, assuming that it's a retail facing one, one that the consumers will use, is going to do. And, oh, guess what, the New York fed is doing a 12-week digital dollar pilot. That is including Wells Fargo, the very Group, MasterCard. And about six others.

GLENN: So, Carol, they are saying that because they're not sure. If they can convert our system of transferring money, which doesn't involve any trucks.

But the digitizing of actual physical dollars. And sending them overseas in bulk. They're not sure they can work out the math, on how to do that, without the US dollar.

That sounds like the biggest bunch of bullcrap, I've ever heard.

They're wondering if it's going to work for the data transfer?

You're doing it every day now.

CAROL: Yeah. So the US is the leader in payments. And if you go and look at all the different -- the Bank Policy Institute. All the different folks who are kind of looking at policy around this, everybody is going, you know, America doesn't need this.

It's one thing for a small country that doesn't have the infrastructure. But we have laser fast settlements of payments. We have laser fast transactions through private entities. There is no need for this.

The need is a wanton and a desire for control and power by the people who are in charge and by the people who have not been taking care of those dollars. And so they need a new scheme. And this is the scheme. And, oh, by the way, this is how they're going to do this, Glenn. And my best guess right now. All this stuff we're seeing with the crypto woes. The FTX collapse. The -- you know the hacking, the fraud. They're going to tell you, oh, we need regulation. We need regulation around crypto. Because crypto is bad.

And they are going to regulate it, and they're going to sneak in congressional approval. Because that's the one thing. That a central bank. Digital currency. The fed does not have authorization from it. It must come from Congress. Not that that stops anyone anyway.

Just theoretically speaking. So keep an eye out. Whatever bills are coming down the pike. They are going to try to stuff this in here. And I'm not joking at all. I'm not -- this is not hyperbole. This will be the end of economic freedom. If a retail CBDC comes to fruition.

GLENN: I -- you know I'll go a step further. I'm not saying this is the mark of the beast. But it has all the earmarks of just not being able to live in society without it.

You won't be able to do anything, without it. Correct?

CAROL: Yeah. I mean, listen, it impacts your livelihood. You know how you get paid. How you transact.

I mean, it is the foundation.

Stable money is the foundation of a stable society.

GLENN: Now, people will say, though, Carol. That I already -- I already interact with my money this way.

I don't get an actual paycheck and bring it to the bank. It's digitally transferred into my bank. And then I spend, either a credit card or a debit card, everywhere I go. I go to a gas station. Put a card in. What's the difference?

CAROL: If I really, you're doing by choice. And you have a choice of providers. And the providers aren't the government. And it doesn't have the authority to come in and say, I'm sorry.

We're just going to cut off your ability to take in money. Or to put out money. We're going to freeze it.

Think about the trucker convoy up in Canada. They just froze their assets. They can do this, you know with just a flick of a switch.

Just one off, and say, I'm sorry. But that's it. You can't -- we've abandoned -- we've gotten rid of cars. We're not going to let you hail an Uber. Let you do this.

You said something bad on social media. We didn't like it. So we'll let you come down. This is a tool to let people submit to what the government wants. And it's the ultimate bullying tactic. The ultimate control tactic, to be able to control every facet of how you transact.

GLENN: I will tell you, that it is -- it is -- what people will say, well, I'm not doing anything wrong. You don't have to do anything wrong.

You just have to want to spend your money on hamburger. As opposed to fish or bugs or whatever it is.

You just want -- you want gasoline, and there's a shortage, and you're not part of the crew, that is deemed essential.

So you get no gasoline. This -- this is -- you know everybody complains about socialized. -- or, you know about free market health care.

First of all, we don't have free market health care. We haven't had free market health care, in a very long time. Government is all over it. Now with Obamacare, it's worse.

However, this is the point. Look at what's happening now, with Canada.

Canada actually said to a Canadian veteran, who just needed -- she's like probably 40, she couldn't walk up her stairs anymore.

Because of the pain. So she calls Veterans Affairs, and they say -- she says, I just wanted one of those chair things that go up the stairs.

She said, that they told her. And she's not the only one. We can assist you in suicide, if it's just so bad. She's like, what!

This is what's happening.

CAROL: Yeah.

GLENN: You'll have no options. No options.

CAROL: You will own nothing. They'll put it out there. And like you said, the word I wanted to key in from what you were talking about earlier. Was essential.

Because this is what they did to us in 2020. They said, some of us were essential. Some of us were not essential. So it's not like we don't have a case study, that's less than a couple of years old, to say that they will pick winners and losers. They will do that based on political clout and connections.

And guess who will not be in that inner circle? Probably everybody listening to the program. Including you and me. So this is an epic, epic disaster. And this is something everybody should be writing their representatives and senators. Saying, absolutely not. This is a complete affront to our freedoms.

Energy Secretary reveals Trump's plan to LOWER your electricity bill

President Trump's Energy Secretary, Chris Wright, joins Glenn Beck to discuss Trump's plan to lower your electricity bill. While he says it can't happen every night, he assures Glenn's listeners that Trump is asking for updates on this "every single day." Plus, he reveals how the administration plans to cut red tape, use nuclear energy, and stop the immature closure of coal plants to boost American energy.

Transcript

Below is a rush transcript that may contain errors

GLENN: Okay. We have Chris -- Chris Wright on. US Energy Secretary. We are concerned about our energy, and thank God, Donald Trump. Can you imagine how bad this would be, if Joe Biden's policies would have continued? Thank God we're doing a lot of really good things. But I wanted to get a sense from Chris, on where we are, and what he thinks of what's happening in Maryland, and the warning, that Goldman is giving this week?

Chris, welcome to the program.

CHRIS: Thanks for having me on, Glenn. Yeah. You hit the hot topic, right away.

GLENN: Okay. So I would assume that you agree with what Goldman said?

CHRIS: Oh. Absolutely. In fact, we've released a report from the department, just a few weeks ago. And if you had continued the Biden policies, which are to permit and subsidize energy sources that might be there. Might not. They generally aren't there at peak demand.

If we had continued those policies, they would have shut down another hundred gigawatts of firm production capacity, that's there when you need it. And they have permits to improve and planned to add -- add 22 gigawatts of that. Check out 100, add 22.

So a net loss of 78 gigawatts, to an electricity grid that's already tight, that already delivers blackouts and peak demand. They were on a trajectory to increase blackouts by 100 fold, by the end of the first Paris term, if she had won that election.

It is just -- we were driving over a cliff, and they were hitting the accelerator to go faster. It's ridiculous.

GLENN: What really bothered me was the policy that when they shut these plants down, we would actually pay the power companies, to shut these down, if they dismantled the coal power plants. They actually could get subsidy. If they made sure, there was no going back into that.

Which I found terrifying, and horribly irresponsible.

CHRIS: Glenn, it's just crazy. An environmentalist melted down a few weeks ago, when I used my authority at the Department of Energy, to stop the closure of a one and a half gigawatt coal plant in southwestern Michigan.

Oh, you're going to post tax -- costs on the -- we don't know that coal plant. It's slated to close.

Two days later, there was a blackout in my zone, the Midwestern independent system operator. Two days later, that plant was running at full capacity. It would have been massively worse. Crisis would have been massively higher.

You just talked about Baltimore. We also stopped the closure of a very old power plant in Baltimore, but a critical power plant that keeps the lights on at peak demand, that's also running at full capacity as we speak today and has for much of the last few weeks.

Oh, no. We don't need it. We're going to close it. It -- it's just when politics gets in the middle of energy, it truly impacts people's lives.

At least the blackouts. Rising costs. You know, we had 30 percent rise in power prices during just four years of President Joe Biden.

And now we're going to launch the AI race against China? And we are going to have our lights going off, without data centers, without new industry in our country?

Just thank God, the American people, overwhelmingly elected President Trump. We brought common sense back. We're swimming seven days a week, to try to fix the train wreck they left us. So it's exciting. It's more stressful than I would like. But I can assure you, we're headed in the right direction now.

GLENN: So what really bothers me, is how dangerous nuclear power is, and how we can't use that.

Even though, that solves the global warming thing. We've never been able to have that. We have to reduce our power usage. You know, go back to the good old days in, I don't know, medieval times. And -- but now that AI is here. Now that the big tech companies step up and say, no, no, no. We -- we have to have power for AI. Now all of those rules are out the window.

Which -- which bothers me so much, because it is -- it's as if the left and the power structures, don't really care about the average person. And them having power.

They care about these big corporations, and -- and AI being able to have compute power.

But not the average person. And it's -- it's -- it's disgusting.

It's really disgusting.

CHRIS: I -- I think that's right, Glenn.

It also shows that they never really cared about incremental changes in greenhouse gas emissions. The climate change thing is mostly a classroom for power. We're going to decide the way the world works. And make rules for you.

Because you stupid rubes out there in America, you can't make your own decisions.

We must make them for you. But yet, they were never about a rational approach to reduce greenhouse gases.

They don't even know that much about greenhouse gas emissions.

You said, they hated nuclear then. Now they see we're on a train wreck. They don't want to admit their climate alarmism was wrong. And wildly exaggerated.

Now, nuclear power is okay.

Because we need. We need these data centers, these big companies need power. It's not just -- it's not just those crazy routes in Middle America, like you and I.

GLENN: So, you know, in your report, you said, you know, we will increase blackouts by 100 times in the next five years, if we don't keep more base load power online.

How rapidly are we going to see these nuclear power plants, et cetera, et cetera, being built?

And is it only to serve those server farms, or are we going to redo the American power grid, itself?

CHRIS: It will be across the grid. So it is an exciting development, Glenn.

But it's the government. It's this overweening, fear-mongering government that actually smothered and killed nuclear industry, for most of the last four decades. So since it's been my mothered for so long, it will take time to get that ball really moving. We will have an already closed nuclear power plant, back open in Michigan. Later this year, January. Hopefully, at the latest.

You know, there's some developments that will happen in the next few months.

But most of it, will take a few years.

Really, what's going to feed the data centers that are going to be built, and the reindustrialization of our country.

And keep the lights on, and our air-conditioning on in the summertime.

Most of that is going to come from stopping the closure of the coal plant.

GLENN: Right.

CHRIS: That the Biden administration and Obama administration wanted to shrink our ability to generate electricity.

And it's going to come from the expansion and rapid construction of new natural gas burning power plants. Natural gas is, by far, the biggest source of electricity.

It's by far the lowest cost -- source of new electricity. So we are doing everything we can, to permit, allow the construction of natural gas plants as fast as possible, and removing these ridiculous requirements.

That, well, if you spend a billion dollars to build a new power plant, within six or seven or eight years, you're going to have to capture all the carbon dioxide emissions, and eject them underground. No matter how much it costs. No matter how much it burdens our power sector.

The direction they were in, just didn't care about American people, or American business.

GLENN: How long before we see these things? I mean, you know, China is building at the speed of at least one coal power plant, a week. They are building nuclear power plants. They are on an energy surge right now.

They know what's coming.

How -- how -- when should we see this actually starting to happen? And how long before power prices come down?

CHRIS: Oh, man. That is -- that is the big question. President Trump asked me that, every single day. Every single day. Let's get oil prices down. Let's get gas prices down. Let's get electricity prices down. And it takes a while to build infrastructure.

Fortunately, quickly, we can stop the closure of coal plants and still have lots of lifetime left. We've already done that.

That's why we don't have much worse blackouts, already today. We do have new gas plants coming on this year, a lot more coming on next year. We will have nuclear plants on, later this term. We will have a whole bunch of them under construction. But yet, to turn the giant, you know, aircraft carrier that is the electricity grid, that's going to take a few years. But hopefully, we can watch the huge rise in prices.

We can build the capacity so that the United States can keep our lead on artificial intelligence over China.

We get behind China, and they control AI, our national security is at risk.

GLENN: Yeah. I know.

CHRIS: The whole administration is seven days a week, working on this effort.

I see dramatically fewer blackouts this summer, than you would have, had the election gone the other way.

And I think we will be in a little better situation next summer. And somewhere in between there, this winter. We're rapidly swimming the right way.

I wish, I could say power prices are going down 20 percent next year. But it's simply not possible to do that, in 12 months. But I will tell you, President Trump is seven days a week doing everything he can, towards that goal.

GLENN: What regions are the worst in the country?

As far as stability and prices?

CHRIS: The Midwest.

You know, the -- the -- where that Michigan coal plant was kept open.

Where that nuclear power plant will reopen later that year. The Midwest Independent System Operator, that's our tightest region.

The southeast and PJM, where Washington, DC, is in the mid-Atlantic states.

They're rapidly getting tighter as well. Everything in the inner connection cue that was new to come on, is a wind or solar project.

But when it's dark out, and when it's really hot, and you're in a high-pressure system.

And the wind doesn't blow. Those things don't help to meet demand. They just provide electricity -- well, you don't know when. But at some points in time, that's not very helpful for an electricity grid. But we're going to stop the closure of the firm capacity.

And we are doing everything we can. We are permitting and approving plants, every week. New construction, new plants, that will be built. And that be here to provide relief to Americans in the next 12 to 24 months.

GLENN: And the most stable region?

CHRIS: The -- the most stable region is actually Texas. Which is by far the biggest electricity grid. They produce more than twice as much electricity as California. And just -- just a little bit less nonsense in Texas.

They still went crazy on the wind stuff. They still have more expensive, and less stable grid than they had ten years ago.

GLENN: Yeah. They do.

CHRIS: But they also have the mindset and the regulatory regime to fix their problem. Texas is rapidly growing its firm capacity, and they will stay out of this crisis, probably a little faster than the more Biden-influenced rest of the country.

GLENN: Hmm. I can't thank you enough for everything you guys are doing. I'm -- I'm amazed at -- at how rapidly you guys have turned things around.

I'm just -- I'm thrilled at the work, you all are doing.

And, Chris, you really are leading us in energy.

And I really appreciate that. Thank you.

CHRIS: Appreciate you, Glenn. Appreciate all your viewers. We're doing everything we can.

We think about the American people. That's the only agenda we have.

GLENN: Thank you so much, Chris.

That's our US Energy Secretary, Chris Wright.

The most COMPLETE look at the Deep State we've ever seen

Thanks to release after release of government documents by the Trump administration, we now have the most complete look at the Deep State - how it works, who's involved, and who's funding it - that we've ever had. Most recently, Just The News has released proof that former United States Deputy Attorney General Sally Yates told the FBI to shut down investigations into the Clinton Foundation. Glenn's head researcher, Jason Buttrill, joins to recap these latest revelations.

Watch Glenn Beck's full breakdown of the Deep State network HERE

Secret Docs Reveal the ENTIRE Deep State Network | Glenn TV | Ep 451

The recent declassifications from Tulsi Gabbard’s ODNI and the Durham annex give us a rare glimpse into something much bigger and deeper than the Russiagate hoax against President Trump. Glenn Beck heads to the chalkboard to connect the dots and map out how the entire deep state operation works. We reveal who the players are, where the funding comes from, and how they exert their influence. From international color revolutions to the Ukraine impeachment and the Russiagate hoax, everything is finally starting to make sense. John Solomon, CEO and editor in chief of Just the News, gives Glenn a sneak peek into a bombshell investigation that exposes how the deep state provided cover for Clinton Foundation corruption.