The U.S. government shutdown is hoarding nearly $1 trillion in the Treasury, all while government employees are going without pay. Like a body slowly losing oxygen, this squeeze spikes rates, and threatens Main Street first—freezing small businesses, families, and consumers. This is all PLANNED to destroy Trump's economy and give power back to the Democrats. This MUST END.
Transcript
Below is a rush transcript that may contain errors
GLENN: So we have hit a critical juncture. A turning point, if you will. On the closure of the government.
And the government needs to open back up. And I'm going to explain it in a way that nobody else will explain it to you. If you're watching CNBC over the last couple of days, they were saying things like, you know, the repo market is under great stress. The banks are getting money from the Federal Reserve. At incredible rates. Highest it's been since 2020.
What does that mean?
What does that mean?
The banks, when they close, they have to have a certain amount of cash in their vaults to cover everything.
It's a requirement by law. And if they don't have that, then they have to go to what's called the repo market, and they borrow money overnight.
And there's interest on it, they borrow it over night. And they give it back in the morning when they open back up. Okay?
It's only done when banks are short of cash. It used to be a very bad thing. Now it's happening all the time. But not at these levels. So let me explain what all of these things mean.
Try to imagine, if you will, that America's financial system is like a living body. The heart, as much as I hate to say it. For this example, is the Federal Reserve.
It doesn't create life. But it keeps the blood pumping. Okay? The arteries and the veins are the banks and the institutions that carry the lifeblood of the economy, money. Okay?
And the capillaries, are like you and me. Every family, every small business, every worker trying to make a paycheck stretch from one week to the next. Okay?
We're not an artery. We're capillaries. Now, in this body, there's something called the repo market. Okay?
This is the place where banks and institutions go to borrow cash overnight. Okay?
Think of that cash like oxygen, okay?
The oxygen exchange that happens in the lungs. It's fast, it's constant, it's invisible. But it is vital. You don't have the oxygen, it doesn't matter what the blood is doing, right?
Every night, money goes out. Every morning, money comes back in. That rhythm is what keeps the entire body alive. Well, in the last few days, that rhythm has faltered, something is clogging the arteries.
The banks, the vessels, they're gasping now for oxygen. So they're going to the fed's emergency oxygen tank. The standing repo facility.
And they're drawing record amounts of cash out, just to keep breathing. Okay?
It's like watching a marathon runner suddenly reach for an oxygen mask at mile three. Why?
Why is this happening?
This is the important part. Because while the government is shutdown, and we might think. Well, that's good. They're not spending money.
Hmm. The treasury is the fiscal liver of the body. And it's storing all of the blood in the liver. Okay?
It's storing cash in a valuate now called the treasury general account. There's nearly a trillion dollars sitting there.
A trillion dollars sitting there.
Not being paid. Every dollar that goes into that vault is a dollar that can't circulate now through the body. So now it's starving everything of cash. Because there's a trillion dollars sitting in the Treasury.
And even though, you can't see it, every second the shutdown drags on. The system is being starved. And the arteries are tightening.
And the heart is straining. And the body is starting to shiver. And that's what's happening right now in the shadows of our financial system.
It's not about Wall Street freed. It's not some obscure number on a Bloomberg terminal. It is about a government that has turned inward, frozen by politics, unable to pass the simplest resolution to fund itself. And because it's doing this, it's pulling all of that pretty sure liquidity. A trillion dollars in cash. The oxygen. The life of our economy, out of the bloodstream, and into a vault.
If you've ever had a power outage in winter, you might know the feeling. Let me describe it this way. First, it's fine. You grab a candle. You grab a blanket. You start the fireplace.
Hours drag on. The house starts to get a little cooler. If it continues to drop on. The pipes begin to trees. And by morning, it's no longer a cute little thing, that, oh, no. We'll just sit by the fireplace. It's cold. Okay?
That's where we're at, financially right now. We are not at the point of collapse. But we are at the point of freezing the pipes.
What does that mean, when I'm talking about the arteries?
The government you shutdown has locked up the treasury's checkbook. That means fewer payments to contractors. Less spending. Less money flowing into the banking system. When less cash circulates, the banks can't lend freely because there's no cash.
Money gets tight. Repo rates, that invisible overnight interest rates. That starts to spike. And when that happens, it affects the capillaries.
You and me. The smallest players. The smallest businesses. The consumers. The credit unions. We begin to feel it first.
Okay?
When arteries clog, at the heart, what's the first part of the body that goes cold? Goes numb. The fingers. The toes. That's us! Here's the tragic irony.
The politicians, you know, the Democratic Party, fighting over principle. They may think it's about posturing, about leverage, about who blinks first. But it's not. While they're playing chicken with our nation's checkbook, it is now time to say, enough is enough! Because the system is gasping for air.
And this is how financial crises begin. We're not in one yet. But, again, the pipes are beginning to freeze. This is how things happen. They happen quietly, not with a bang.
Not with a crash. But with tightening. With the arteries getting clogged. All of a sudden, you have a widow maker. And you didn't see it coming.
Because it's a slow, silent squeeze that begins in the overnight funding markets. The kind of plumbing that nobody ever looks at, nobody ever talks about.
Nobody even understands. Do you understand how the pipes are working in your house, behind your walls? I don't even know where they go. I know they eventually go down and out, but I don't know. And all of a sudden, you find out, when a pipe bursts.
Make no mistake, if this continues, it won't just be the banks that are hurting. It will be your mortgage rate. Your credit card interests, your grocery bill.
Because the system has to begin charging more for everything. Because they are paying more in interest, to hoard what little cash is out there.
The longer it goes on, the more cash goes into the government, and it sits there.
It's -- it's like watching your bloodstream start to clot!
You're not going to feel it right away. But if it reaches the heart. Reaches the brain. The damage can be fatal.
So here's the one truth today, on the economy, that the media won't tell you, or -- they fail to explain it. The repo market.
What the hell does that mean!
Why are you only talking to the people on Wall Street. Why don't you tell the people who are going to be affected first.
How can an alcoholic DJ figure out a way to explain this to the average person?
But you can't!
This shutdown is not just a political stalemate.
It is a self-inflicted wound.
We are at a point now, where the government is literally draining oxygen from the economy! And the Fed is in triage mode. Pumping emergency liquidity into the veins, just to keep the patient alive. The question is, how long can the patient keep doing CPR, before they tire out?
How long before, we need to start printing money.
The cure is not money printing.
It's governance. It's having a damn adult in the room. It's lawmakers that understand that starving the bloodstream to win a headline is not courage. It's madness!
When -- when will the Democrats stop this game, the shutdown has to end!
Not because Wall Street wants it. But because Main Street needs it!
The blood of the American economy. The trust, the liquidity, the stability.
It's not infinite.
And once the heart starts to falter, it takes more than an emergency repo to bring a nation back to life.
This must end!





