RADIOApril 04, 2022

The Fed is SILENT on these TRILLION-DOLLAR loan details

Thanks to the Dodd-Frank Act, the New York Federal Reserve legally was required to release yesterday both the names of institutions that received loans at the end of 2019 and how much those loans contained. Shockingly, just TWO foreign banks — one from Japan and one from France — received TRILLIONS of dollars alone (as reported by Wall Street On Parade). But when it comes to WHERE the money was spent, there’s more to the story…Glenn explains it all in this clip PLUS, why hasn’t the Fed released certain important details about those loans — like if they were ever paid back?!

Check out all the details here: https://wallstreetonparade.com/2022/03/the-feds-se...

Transcript

Below is a rush transcript that may contain errors

GLENN: Hey, I'm glad this story came out yesterday. As opposed to April 1st. Yesterday, was March 31st of 2022. And that marks the day, that the New York fed was legally required by the Dodd-Frank act, to release the names and amounts of institutions, it made emergency repo loans to, in the first quarter of 2020. The feds required to release all the information and data two years after it made the loans. And they complied. And then, I mean, with some of it. With some of it. Let me explain. Do you remember in January of this year, we told you, the largest borrower in Q4, 2019, pre-pandemic, was a Japanese investment bank. Nomura Securities. They had a total of $3.7 trillion in borrowing from October through December of that year. Now, this was from the fed, compiled by Wall Street. So when you have a Japanese bank, in the last quarter of 19, you know, you got a lot of banks who were like, hey. Hey, we're people too. We're not just -- we're better than the Japanese. And that was -- that was a security -- that was like Charles Schwab. That's not really a bank. That's somebody that's helping you buy stocks and bonds. And they got behind the eight ball. Just a wee little bit, of $3.7 trillion. In December, for the fourth quarter of 2019. Well, there was another bank. And this time -- I mean, the French are proud, you know. There's a French conglomerate, BMP, you know. And it says, hey. We are not going to let Japan make us look like we're not out of control. Huh?

BMP borrowed $3.84 trillion from the U.S. Federal Reserve, taking advantage of the 114 and 45-day term loans. Now, the fed's data released yesterday is weird. It -- it only -- it only has released what they gave to these foreign banks and the money they printed for these banks. But they just could -- where did I put the data on how they paid it back? Did they pay it back? We don't know, okay. We don't know. It was an emergency. Who writes things down? Now, if you've been a listener on the program. And a reader on the program for a while, the name BMP might sound familiar. But you have to go back to the time tunnel. Back in 2015, I reported that BMP had pled guilty to conspiring to violate the international emergency economic powers act, and the Trading With the Enemy Act. And they paid nine billion dollars in fines, to the U.S. Department of Justice. This is the largest fine, a foreign bank has ever paid to the Department of Justice. Now, I covered that story, seven years ago, because of the trading with the enemy part. You know. Wait a minute. BMP was found to have helped to launder tens of billions of dollars from legal funds, from nations under the security sanctions, including Sudan and Cuba. But the real reason I wanted to let you know about it, is not Sudan and Cuba. Is because BMP was the primary money laundering customer, Iran.

They were the go-to. Hey. How can we get these arms out? And how can we, you know, launder all this money? Oh, we are here to serve you. We are French. We are French! French! Be our guest. Be our guest. So they were just off being identified by the US, UK, and EU authorities, as being the world's largest state sponsor of global terrorism. Iran, like Russia recently, sanctioned with being cut off from the world's global system. Including SWIFT. Now, I don't know if you remember this, in 2014 and '15. The British Navy and the Israeli Defense Force, captured and boarded a couple of Iranian ships that were carrying rockets and mortars and thousands of firearms to be delivered to the Palestinian terrorist organizations. Remember that? The Gaza Strip?

Yeah. Yeah. It was BMP that was helping them do that. Anyway, they continued to help them. You know, and Iran just reached to BMP. Because they said, hey, be our guest. And what they did, they helped them sell weapons and oil all around the world, by funneling the transactions through Cyprus, Cayman Islands, and then finally to U.S. banks. Which is weird. Because that's the exact route, that Hunter Biden's payments went, to help dear old dad. So they paid $9 billion. And then in 2020. They needed 3.8 trillion in emergency loans, just to stay on A float. And let me give it again. $3.8 trillion.

Did they go to the IMF? No. The World Bank? No. The EU central bank? Because that should be the bank that would do it. No. They came running to Uncle Sam to bail them out. So they got that $3.8 trillion. It's good for an investment of only 9 billion, that they paid us. You know, hey, we'll scratch your back. You scratch ours. Give us 9 billion. Because you were trading with the enemy. And we'll give you 3.8 trillion. I mean, I think that's a pretty good deal. Now, let me go back. Remember I told you Nomura Securities. Like the Japanese Charles Schwab. And in December, they needed, what was it again, Stu?

It was 3.84. Okay. Wait. Wait. That was the other one. Anyway -- here it is. $3.7 trillion, they borrowed. The last quarter of 2019.

That should take care of things, right? No. No.

The very next month, they needed another $2.7 trillion. So the Japanese, one securities firm, needed 6.4 trillion brand-new crisp dollar bills. And you add that to the French, and you've got, what about, ten and a half trillion? Okay. Two banks. Those are the ones we know about, because we had to be told about them, because of Dodd-Frank. That is really nice. That is really, really, really, really, really nice. By the way, do you know how much leverage the fed has over foreign governments, institutions, financial markets? Do you now get why stocks and equities, just don't ever seem to go down, no matter how bad the news gets? Who is propping up those markets, you know. You know, who is doing that? I just can't figure it out.

By the way, the Federal Reserve is the largest creditor in the world. That's a gross understatement. If you want to understand what comes next, with programmable federal reserve digital currency, and the fed's outright promotion of ESG systems. Yeah. Yeah. Do you think -- do you think these countries are going to say no to us, about any of that? When we've loaned them all? And when you look at the price of meat, and you wonder, why is my dollar not going so far?

Yeah. It might be. It might be that. It might be that. You know, the official balance sheet now, of the Federal Reserve, says they own $9 trillion. You're going to love this. In mostly mortgage-backed securities. Oh. Isn't that great?

$9 trillion. And since the pandemic, some unknown quantities of private securities, like corporate bonds. But we don't know. And that implies since 2008, the fed has only injected $9 trillion, by printing currency and buying assets. If we really want to understand what's driving inflation, and how deeply the fed has embedded itself in the global financial system. You have to understand the size and scope of these loans. They're not part of the fed's balance sheet. Okay? Not part of it. And you know what's really weird? Is, I didn't know, that the fed began buying stocks. Did you know they were buying stocks? Yeah. They have BlackRock, helping them invest their money. This is why our country is upside down, financially. This is the game. And then we listen to people like the CEO of BlackRock. Who just yesterday, was saying, the arrogance of some Americans. These younger Americans. They've never really seen trouble. And they should brace for it. Because there's really bad financial trouble. The likes of which we've never seen. And I'm not sure that Americans are strong enough for it. You piece of garbage. You're -- you're the ones, that are raking in the cash. You're the ones that are raping the Federal Reserve. The Federal Reserve is now partnering with you, in the great reset. Because that's the net, you want to catch all of us in. We can't afford housing, because you buy up whole neighborhoods, at 50 to 100 percent more than the asking price. And you telling us, you're warning us, that times are going to get tough. Oh, thank you.

STU: This sort of reminds me of a period in my life, Glenn, when I got a credit card.

GLENN: Uh-huh.

STU: And I -- and I maybe put some purchases on that credit card.

GLENN: Right. Yeah.

STU: And then I thought, I should get another credit card. Because if you have that first credit card, it gets filled up. You can't use it anymore. So you get a new credit card, then you can buy things on that.

GLENN: Uh-huh. Uh-huh.

STU: And when I got that second credit card in the mail. I got these things for my convenience. Called convenience checks.

GLENN: Holy cow.

STU: Now, convenience checks. That sounds incredible. How convenient was it. It was very convenient. Because what I did with the convenience check, is I wrote it out, normal check. And then I wrote it to the other credit card company. To make the payments on that card.

GLENN: So you paid off. You were responsible.

STU: Responsible. I paid it off.

GLENN: You paid it off. Good for you.

STU: And then I noticed, that the apartment that I was living in, was requiring a payment monthly, for me to stay there.

GLENN: So you paid for that, a convenience.

STU: Convenience check.

STU: Because it was so convenience. It was much more convenience to have the money, to pay for the bill. I would take remembering convenience checks. And then I would never have to pay. And then you know what I did? I opened another card, and then they sent me convenience checks too.

GLENN: Holy cow. You know what, we're up against a network break. But I don't think I have to ask you how this all ended.

STU: Oh, it was as well -- it was very convenient, and it's going to turn out as well as it is for America.

GLENN: Really? Oh, well, thank you for bringing us into the weekend on a Friday with that happy news.

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The most INSANE Deep State story you've never heard

Was an NGO with deep government ties trying to RESTART the opium trade in Taliban-run Afghanistan while former Taliban members were on its payroll...only to be caught DESTROYING the evidence?! The State Department's Under Secretary for Public Diplomacy Darren Beattie joins Glenn Beck to expose what he found when he was made Acting President of the United States Institute of Peace. Plus, he debunks ProPublica’s claim that DOGE “targeted” an “Afghan scholar who fled the Taliban.”

Transcript

Below is a rush transcript that may contain errors

GLENN: Darren, welcome to the program. How are you? Darren, are you there? Is he there?

STU: Hmm.

GLENN: Okay. Check if he's there. Is he? Dick Cheney. Dick Cheney.

STU: Trying to shut him down. They don't want peace. They don't want peace.

GLENN: They don't. They don't.

He is -- he is a big-time anti-globalist. I've got to tell you, what we're doing with the State Department. I absolutely love. The State Department has been a big problem for this country for a very long time. It's what's gotten us into these global wars. These endless wars, and everything he is.

And, I mean, I don't know what happened to Marco rube, but he is tremendous.

And the way president Trump is appointing different people like Darren, it's fantastic. Darren, are you there? Darren.

STU: Something must be wrong with the lines. Because we are talking to him offline on the phone here. And it does seem to be working, but not coming through our broadcast board here for whatever reason.

GLENN: Well, let's see if we can get that fixed, and maybe let me just talk here for five, six minutes on something else. Then we'll take a break and come back and see if we can get him.

There's something else that I really want to talk about. And that is this flag-burning thing. Now, it's not an amendment.

This is something that the president is putting up in an executive order and has very little teeth to it.

But I -- I -- look, I understand. As a guy putting an enormous flagpole up at my house today.

I mean, an enormous flagpole.

I love the flag. I love it!

And there are a few things that make me more angry than see somebody you set our flag on fire.

For a lot of people, that's a punch in the gut, especially our military people. And it has been planted on distant battlefields. It's raced after victory. Saluted in the morning, or should be in our schools and folded and given to the hands of grieving families. It feels like spitting on every sacrifice, that ever made this nation possible. And the argument against flag burning is really simple: It dishonors the idea of all of that. Okay?

And it defends millions of people, including me. It disrespects, I think the veterans that bled. The families who mourned. The dream that binds us together.

However, here's the hard truth: Symbols only mean something, in a land where freedom is alive.

If you outlaw the burning of a flag, the you have placed the cloth above the Constitution that it represents. You have made the flag an idol.

We don't worship idols. If you can only praise the flag and never protest it, it just stops being a symbol of freedom. And starts being an idol of obedience.

Now, that's the argument for allowing it. At least to me.

Because the real strength of a free nation is -- is to -- it's -- it's how we protect, not the speech we love, but how we endure the speech we hate!

And the Supreme Court has already ruled on this. And, you know, they -- the line they drew wasn't an easy one. Freedom of speech, stops where it directly -- directly insights violence. And that's it same thing, kind of, in this executive order.

You can burn the flag. But if I'm not mistaken, but if it incites violence, then you're in trouble.

And that's true. But the bar of inciting violence is so incredibly high. And it's -- it doesn't have anything to do with speech that offends. It's not speech that stirs anger. Not speech that wants you to punch the speaker in the mouth. It's speech only, that provokes imminent and specific violence.

And unless it's that be with the government doesn't have any right to -- to get into the business of silencing speech. Ever. Ever. Ever.

It is a hard line. And that standard is really hard. It's painfully hard.

Because what our citizenship requires, this is civics. What our citizenships require, is that we defend -- oh, I hate this.

We defend the right of your opponent to mock everything that we hold sacred.

Now, I want you to think of this. You can burn a Bible. You can burn the Word of God. But some want to make it illegal to burn a flag. Where are our priorities? You can burn the Constitution. The words that actually are the ones that stir us into action. But you can't burn a flag.

You can't burn a Koran. Can't burn them. Can't. Can't.

You will -- you will quickly come to a quick end, not legally. But you will come to a quick end. I don't ever want to be like that. Ever!

You burn a Bible. I think you're a monster. What is wrong with you? What is wrong with you?

But you have a right to do it. Why are we drawing a line around the flag? It -- the reason is -- is because we feel things so passionately. And that is really a good thing, to feel love of country so passionately. But then we have to temper that. My father used to tell me, that I think this country needs to hear over and over again, every day. My father -- we would talk to somebody. And we would walk away. And he would go, I so disagree with everything that man just said. But, Glenn, son, he would say. I will fight to the death for his right to say it. He used to say that to me all the time. Which now lees me to believe, I know where I've got my strong opinions from. Because dad apparently would disagree with a lot of people all the time.

But that was the essence of freedom. That is the essence of what sets us apart. Standing for universal, eternal rights like free speech. It's not easy. It means you have to take the size of those people that offend you. It means -- it doesn't mean you have to disagree with it. You can fight against it. You can argue back and forth.

But you -- can you tolerate the insults to the things that you love most. That is so hard, and that is why most of the world does not have freedom of speech. It's too hard! But our Founders believed people are better than that. Our citizens can rule themselves!

And the only way you can rule yourself is if you don't have limits on freedom of speech. So the question is, do we want to remain free? Or do we want to just feel good? It really is that simple. It's why no one else has freedom of speech. It's too hard! I think we're up to the task. Okay. Give me 60 seconds. And then we will try again.

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(music)
All right. Let me -- let me bring Darren in. Darren, are you there now?

DARREN: Yes!
GLENN: Oh, God. Thank goodness.
Thank you for putting up with us. I don't know what happened with the phone system. But, first of all, tell me what the US Institute of Peace is. I've never even heard of it.

DARREN: That is a fantastic question. And I'll try to give the abbreviated answer, because I know we don't have several hours.

GLENN: Good. I know.

DARREN: But US Institute of Peace is one of lesser known, but quite important member of the NGO archipelago, that was created in the '80s. It belongs to the same cohorts as national endowments for democracy.

GLENN: Oh.

DARREN: And some other -- some other better known NGOs that really in the broad context of things. In kind of the sweep of things, was created as a kind of reorganization of the government structure in the aftermath of the church type committee hearings that expose a lot of the dirty dealings of government agencies such as the CIA, and so sort of a broader response to that government lie was to create this NGO layer of governance, with an armed distant plausible deniability, a kind of chameleon character of not exactly being government, not exactly being private, in order to fulfill some of those more sensitive functions that had been exposed in the course of the church hearings.

And so US Institute of Peace is one of those NGOs that had particular focus on conflict regions. But, of course, as I think you -- you suggested earlier, peace requires at the very least, an asterisk. Because there involves a lot of things, that conventional, most American citizens would not think should belong as part of the portfolio of something calling itself an institute of peace.

GLENN: So what was the thing with the -- with this Taliban member that was getting money from us?

DARREN: Right. So this is an interesting case. So there's a whole saga of a takeover of the US institute of peace under -- under DOGE.

And that's really a fascinating story unto itself. Just to give you a sense of what these characters were like. They barricaded themselves in the offices.

They sabotaged the physical infrastructure of the building. There were reports of there being loaded guns within the offices.

GLENN: Wow!

DARREN: There was one, like, hostage situation where they held a security guard under basically kind of a false imprisonment type situation. It was extremely intense.

Far more so than the better known story of USAID. And in the course of all of that, they tried to delete a terabyte of data, of accounting information that would indicate what kind of stuff they were up to.

What kind of people they were paying. And in the course of that, DOGE found that one of the people on their payroll. Was this curious figure, who had a prominent role in the Taliban government. And then seemed to kind of play a bunch of angles across each other.

Sort of one of these sixer types in the middle of Afghanistan.

The question is, what the heck is an organization like this, having an individual, who is a former Taliban member on their payroll.

It underscores how incredibly bizarre the whole arrangement is. And to just reinforce that. I think even more bizarre than having this former Taliban guy on the payroll is the kind of schizophrenic posture exhibited by the chief -- one truly bizarre thing is that one of the US Institute of Peace's main kind of policy agendas was basically lamenting the fact that the opium trade had dissipated under Taliban leadership. They had multiple reports coming out, basically saying, this is horrible, that the opium trade is diminished under the Taliban. Meaning, finding some way to restore it. How bizarre is that!

GLENN: What was their thinking?

DARREN: Well, it's -- it's very strange, and it depends on what kind of rabbit holes you want to go down. But the whole story of opium and Afghanistan and its connection to, you know, government entities, is a -- is a very intricate and delicate and fascinating one. But it seems very clear that the US Institute of Peace was involved in that story to some degree because their public reports. They had a full-the time guy of basically lamenting the fact that the opium trade dissipated under the Taliban. And, meanwhile, they're funding this former Taliban guy.

GLENN: Unbelievable. Now, ProPublica got this. And you have released the statement on it. And ProPublica just completely white-washed this -- said this guy was a victim, and his family was taken hostage. Was his family ever taken hostage because he was exposed?

And correct the ProPublica story, would you?

DARREN: Yeah, I mean, the ProPublica thing, as usual and as expected was a total joke.

GLENN: Yes.

DARREN: I mean, this guy, I'm not an expert on this particular person's history. But what's very clear is he was a former Taliban guy, and he was probably one of these people, who was playing all sides, made a lot of enemies. I know that there were several kind of attempts on his life by the Taliban, in the course of various -- various decades.

This has nothing to do with -- with DOGE.

I mean, he's a known quantity in the region.

And somebody who has made a lot of enemies.

And he was not -- he was on the payroll of the US institute of peace.

And nobody is expecting something like that. So then, and, again, there's this sort of hostile takeover situation.

Where the people are barricading he themselves in. Trying to delete all this data.

And sure enough, what's in the data, is stuff like this.

These random former Taliban guy, making his contract with $130,000.

GLENN: You know, this is the -- this is the real Deep State stuff, that I think bothers people so much.

Look, we expect our CIA to do stuff, we don't necessarily want to do it. We expect it.

When it's in the State Department.

When every department is pushing out money to NGOs to overthrow governments and everything else.

It's out of control!

It's just completely out of control.

And who is overseeing all of that.

DARREN: That's a great question.

I think part of the NGO -- UCEF was almost a cutout of a cutout.

A fourth of its money came from USAID.

In many ways, it was a cutout of USAID. Which itself was a cutout.

So there are many layers of distance. Plausible deniability.

And UCEF, I think institutionally really perfected this chameleon structure of being able to plausibly present itself as government. When that was convenient for what they were doing.

And also to present itself as a private organization, when that was convenient.

It's a very intricate setup that they had, that was truly optimized for this chameleon character of plausible denial operations. In conflict zones. Doing God knows what, with American taxpayer money.

And it's just an absolute hornet's nest.

We have recovered that terabyte that they tried to delete. And once we get things settled in the building itself, I intend to do a kind of transparency effort, whereby we release all of this material to the public.

GLENN: Good. Good.

DARREN: Just like I'm doing at the State Department. I'm currently acting as secretary at the State Department. And doing a transparency effort here. After I eliminated the global engagement center, which was sort of the internal censorship office within the State Department, decided, we've got to -- we've got to air this out to the public.

So within the next couple of weeks.

We'll have our next tranche of helps you of thousands of emails, documenting what this were doing.

GLENN: I would love you to go back on, through those emails.

I think you guys in the State Department are doing an amazing job. Thanks for being on.