A new app called the “Smart Citizen Wallet” has been released in Italy and it rewards people for being environmentally friendly. But don't worry, Glenn says. It's ridiculous to think that anyone will ever be FORCED to participate in this or any other ESG system! Just like it was crazy to say the housing market would collapse in 2007, or that Donald Trump would ever be president, or that America would leave people behind in Afghanistan, or that the entire global economy would shut down, or that the government would allow Home Depot to open but not your local hardware store, or that we'd see $8/gallon gasoline, or...
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GLENN: So there's a new app now, just been released in Italy. And, wow, it looks like China's social credit system, which kind of looks like the mark of the -- but what happens is, if you sign up for it, the smart citizen wallet, is going to be there. And going to -- it's -- it's going to give you points for things that you do right. And it's wonderful. If you use the app. You'll be rewarded for things like recycling.
Using like buses. Managing your energy well.
And not getting fined for any of those things.
What they're going to do is give everybody a virtuous behavioral pointedly. So you'll get a score. (?) you'll win points. You'll be able to spend on various awards, such as discounts, and free cultural activities. Oh, man.
It is going to be great. It really -- it is. Now, they did say, no one, quote obviously will be forced to participate.
Oh. Okay. All right. And, you know, I think that's -- I think we should probably trust them. Because it's ridiculous to think, in 2007 that the housing market would collapse. That's ridiculous. We would never bail out the pig banks and leave the little guy behind. The caliphate, what! That's a conspiracy.
Trump will never become president. And the military would never purge red staters out of their ranks. I mean, why would they do -- e, yeah. We're going to pull (?) out of Afghanistan. And leave people and equipment behind. Right. Right.
And you're saying that I'm going to tell you we can't define what a woman is?
You actually believe that there will come a time, where you are ostracized because you say men can't get pregnant. You're crazy. You're crazy. This is not a -- a tracking, you know, China mark of the beast.
It's not anything. You're nuts. It's likable the people who say, oh. Antifa and BLM. They're going to burn cities to the ground. And then they'll be called heroes by the media. And then they'll be bailed out of jail, by the person who becomes the next vice president. Right. Right. Oh, yeah. And our schools are going to teach CRT.
Yeah. Right. Look, believing, that these things could happen. That this is not some just innocuous kind of thing that will help people. You know, is -- is totally believable. And to not believe it. I mean, then you would have to believe like the FBI and DOJ and DHS would target parents as terrorists. You know. Or teach transgenderism. Or turn our kids against parents, beginning in kindergarten. You know. Or the FBI would abuse the FISA courts. And then if they did, you're expected to believe that there wouldn't be serious consequences? Right?
That's like believing that we'll shut down the entire economy, over the whole globe!
Oh, no one is going to tell you when to shut your business. And Americans will just take it. They'll shut their businesses down. And then if they don't, the cities will just come after them, you know. Oh, wait. Wait. Wait. What was that theory?
They're going to close down your local hardware store. But they'll open the doors of Home Depot. Because that's a safe zone. Come on. That's crazy.
Oh, yeah. And they're going to start, you know, suggesting that we round those people up, or, you know, what do we do with those kinds of people? It's like the climate deniers. Yeah. We're going to arrest them.
There's no inflation. It's transitory. Wait. You just said that there was no inflation. No. It's transitory.
Okay. Were you wrong? Oops. No. I mean. Squirrel.
ESG is a conspiracy theory. It's only for your information.
That's it. We're never going to apply this. This is so you know what you're investing in. We're never going to hold companies or states or countries hostage by it. That's crazy.
So, anyway, definitely not the mark of the beast.
VOICE: No way. Digital angel is just like your favorite slippers. Comfortable. Consistent. And like a (?) satellites can batch your or what you're doing. And why waste time (?) first and last names. When your friends can just scan can't forehead for your identity. It's digital angel.
VOICE: Digital angel.
VOICE: Warning, resistance is futile.
GLENN: And, by the way, don't worry -- because there's nothing that anybody can do about inflation. And it's not going to get out of hand. And even if it does, Joe Biden, he knew. He said, this will cost (?) we want to stand against Russia. We're going to pay a microwave price for it.
And for sure darn it, (?) we all knew what he meant by it. Every American was like, yeah. Yeah. Okay. Sure.
Eggs, according to the USDA. This week. Eggs, you know, in the fall could be a dollar a piece. Twelve dollars a dozen. We all knew that.
We explain that to us. Hey. You might be paying $8 a gallon for gasoline.
We said, damn, the Russians. Right? Am I right?
You know, inflation, where you don't have the product because we all agreed, people should get money from the government, to stay home, and not go back to work. We all voted for it. We all agreed. We knew. We knew. And they were very clear with us. You know, hey, it's going to cost us a pretty penny. We've printed too much money. We've done crazy things. Hey, let's send $58 billion over to Ukraine. You know, that's just what? $7 billion more. Than the yearly budget for Russia's Department of Defense. But let's send that over to that crooked country, and don't worry about the accounting. We'll all figure it out. Oh, and, by the way, it was 58 trillion. And then -- and then last week, I think they had a few more million to it.
And then yesterday, the president said, my gosh we need to send them another seven had million dollars. Why don't we just give them (?) another open checkbook. Just give them the country's credit card. Because we're in. I don't care if we're paying $15 a gallon for gasoline.
I'm in. And I don't have to worry, because I have an electric car. Don't pay any attention to the blackouts that are now coming this summer. But only for two-thirds of the country. Uh-huh. Uh-huh.
So that's good. Jamie Dimon, by the way, he's preparing JP morning chase, the -- the country's biggest bank for what he describes as an economic hurricane.
And advised investors to do the same. Quote, you know, I said there are storm clouds. But I'm going to change that. It's a hurricane.
We're fine at the moment. Nobody knows that the hurricane is just a minor hurricane. Or a Superstorm Sandy. But I would recommend to everybody, you should brains yourself. JPMorgan (?) is bracing ourselves. And we're going to be very conservative. The only time they've used conservative. We're going to be very conservative with our balance sheet. Hmm.
So that means, you're going to stop giving loans to people, I mean, unless the Federal Reserve is interested, pour, you know, BlackRock is behind it. (?) okay. All right. Well, that's great.
He said, right now. It's kind of sunny. Things are doing fine. Are they?
Oh, I forgot. He lives in New York. So he doesn't have to pump his gas. For his black seed an (?), of course, he would never talk to somebody. I have to talk to my driver. What?
I'm -- I'm working right now. And we're funding things to replace that person in the front seat. I don't want to talk to anybody. I want a robot to do it.
You know what I mean?
Talk to my driver. That's a scream. He said, we've never seen anything like this.
We're looking at something you could be writing in the history book, fort next 50 years. (?), oh. Oh. Huh.
He also said, quantitative easing backfired, including the negative interest rates, which he called a huge mistake. Oh. Well, it's a good -- see, we've been saying that forever, since, what? 2008. We've been like, hey. Tonight go down that road. But (?) we didn't know what we were talking about. No. No. We didn't know all the systems. You know. We're just too stupid. We didn't go and get our economic degree, where we were all taught to think exactly alike. We're just a bunch of hillbilly hicks. We couldn't have seen this coming. And Jamie, don't you dare talk (?) to that man in the front seat, who might have seen that too.
You knew he was a boob. The day he picked (?), by the way, nice black seed an. It's electric, isn't it, Jamie?
Anyway, (?) it didn't make us right, and you wrong. It just made you weren't as right as you usually are. And we're still wrong! I don't know why. But we're still wrong.
He said, oil is going to hit 150 to $175 a barrel. By the way, the western economy is built on the fact that oil will never sustain over $100 a barrel. That's how our economy works.
When it's $100 a barrel, or less, everything functions.
When it's 150 a barrel, and it's sustained, it doesn't function.
When it's $175 a barrel, we've never considered what that means. Now, I know you're just a bump on the log, like me. But let me click the switch. I want to ask you, how long does your family survive, with 12-dollar dozen of eggs. And gasoline, at colors a gallon.
You know what, that would be an economic emergency -- I got an idea. What if we get into a situation, where it's an economic emergency. A food emergency. An energy emergency. A war emergency.
And then there's riots on the streets. Because we're in an election emergency. You know, what we got to do? We have to hope the president will declare an emergency.
Well, people like Jamie Dimon, who know period of time, know for a fact (?) that's a conspiracy theory. And that will never happen. Unless you actually read what the administration is actually working on. And I'm going to give that to you, in about 15 minutes. So don't go anywhere.
Back in a minute.