RADIOMarch 17, 2022

What the Fed’s interest rate hike MEANS FOR YOU

In an effort to curb rising inflation, The Federal Reserve just announced an interest rate hike of 25 basis points (one-quarter of one percent). It’s the first time the Fed has raised such rates since 2018. So, what exactly does this mean and how could it affect YOU? Carol Roth, financial expert and author of ‘The War On Small Business,’ joins Glenn to break it all down…

You can read more of Carol's take on this issue here: https://www.theblaze.com/op-ed/roth-what-the-feder...

Transcript

Below is a rush transcript that may contain errors

GLENN: Hello, America.

Yesterday, the fed raised the -- the interest rates.

And they said, they're going to do it, I think six or seven times more this year. This could get dicey in many ways, for everyone.

And I want you to understand, what happened yesterday. And not in terms of, well, you know, us traders believe. I don't care. I don't watch CNBC. Because I only understand about half of it.

I want to know what this means to the average person. Carol Roth joins us. The author of the war on small business. She gets it. And can explain what it all means. In 60 seconds.

Carol, welcome to the -- welcome to the Glenn Beck Program.

CAROL: Hey, Glenn. Lots of things to talk about.

GLENN: Yeah. Boy, I have a long list for you too. So let's start with what happened yesterday, and why people should care.

CAROL: So I want to take a step back, and talk about, you know, why the fed did what it did. In terms of raising interest rates. What we call 25 basis points, or a quarter of a percent.

100 basis points is 1 percent.

GLENN: Okay.

CAROL: And basically, they were undoing the -- at least attempting to start to undo the effects of what they in part cost.

Their monetary policy, zero interest rate policy, printing trillions of dollars, the government spending trillions of dollars, in terms of fiscal stimulus. Turning parts of the economy off, and wrecking these labor markets supply chain.

All of those things are the reasons we have inflation today, exacerbated by decisions that the Biden administration made around oil and gas, dependents and what not.

So basically, we had inflation.

GLENN: Correct.

CAROL: Which we've all been talking about. As we go to the grocery store, and certainly the fuel pumps and whatnot.

And so finally, they said, we have to do something. Now, I'm going to tell you, this is a little bit of window dressing. Because they were doing accommodation. They were in the market, purchasing securities, last week.

So last week, they were being accommodative.

But this week, we have to maintain our credibility, and we need to do something. So they decided to raise what is called the fed funds rate. It's a rate, where banks lend to each other overnight. In terms of their reserves.

And that reverberates through the market. So they brought that down to a target, of zero to a quarter of a percent. And they had held it there for the last couple of years. And they said, okay. Well, you know, inflation is getting away, we better raise some interest rates. One of our tools in order to do that. And they took the huge step of a whole quarter of a point increase, to do it.

GLENN: Wow.

CAROL: Yeah. They're very -- because they need to be credible.

GLENN: Right. So the last time we had a problem of this size, it took an interest rate of about 19 to 20 percent, if I'm not mistaken.

Raising it a quarter is really -- is a joke.

Where do you think, these interest rates should be?

Not -- not considering killing the economy.

Just where it should be. Should it -- if we were in a healthy country, still, would it be 20 percent, or more?

CAROL: So there's a couple of things to unpack there.

First of all, this is an unprecedented situation. We don't have a benchmark, because we have never had central banks, not just in the U.S. but around the world, printing trillions upon trillions of dollars. This has just never happened before. We've never had governments turn off the economy.

You never have a situation, where there's 1.7 jobs available, for every job seeker, because of what the government did.

So we're flying a little bit blind. I've always been a fan of normalized interest rates. I think it's a horrible idea, to have the fed meddling, and trying to direct things.

I want the market to set it. And so before all of this nonsense started, before the financial crisis, the great recession, financial crisis in '07 and '08, which was really the first time we went totally off the rails, with the zero interest rate policy and the purchase of securities, the interest rates were around 5-plus percent. And that seems to be, you know, a healthy place, where things should be.

We should not be in a place, where we're saying, you know, when you take risks, you shouldn't be getting rewarded for it. You know, 0 percent interest.

It makes no sense. So in reality, you're still at very historically low interest rates. And in a healthy economy, to have three, four, 5 percent, would be completely acceptable. We just have been so addicted to this easy money and this free money for so long, I'm not sure how we get out of this.

GLENN: Okay. So there's a couple of problems with 5 percent interest rates, right now. One would be that people would not be able to afford a new house, et cetera, et cetera. Because of inflation, and everything else.

But the other, that nobody ever talks about, is that we now have a national debt over $30 trillion. And that is just like buying a house. You have an interest rate, on that.

If we have an interest rate of 5 percent, how much more money do we have to pay?

CAROL: Bingo, this is the dilemma that the fed has gotten themselves into, by keeping down interest rates. They've basically given the government a free pass to just spend and spend. And to rack up more and more debt.

And we're at a point, to where the debt is completely out of control.

And, you know, has competed our level of GDP.

So if you think about 30 trillion of debt. And obviously, the fed fund rates. And the interest rate on the debt is not a 1:1 correlation. But we know that as one moves up, the other moves up. So in terms of the interest on our national debt, I want everyone to pay very close attention because this is staggering. For every 1 percent increase, that is another $300 billion, that we have to pay in interest, on the national debt.

That is our tax dollars, that are going to pay more, for things, that we have already purchased.

It is not new purchases. It's literally, a finance charge.

Almost like a credit card interest rate, on stuff we have already bought.

And this is the dilemma, the fed has. Because they know, as they raise interest rates, this is going to get out of control. The CDO. Had made a projection, than saying, this is going to get out of control. But in their projection, they said, well, we think the yield on the ten-year treasury note, gets to about 2.1 percent in 2025.

So, you know, we're going to have to really be concerned, maybe in 2029, the yield on the ten-year Treasury note is at that 2.1 percent today. So multiple years ahead of time.

GLENN: Please talk down to me like I'm in kindergarten.

I don't understand the yield thing with the Treasury. How that works. How that's affected. So can you explain that?

VIVEK: Yeah. It's basically how much the government has to pay on debt.

So what the market demands

And obviously, if there's a lot of demand, for Treasury securities. The price of that goes up.

Then the yield, or the interest that you demand is lower.

Because there's a lot of demand. You have to pay a lot for your debts.

GLENN: But we had been at very, very, very low --

CAROL: Very low.

GLENN: Because the fed was buying up. There was no demand for our treasuries, which is our loan.

CAROL: So let me put it in context, what we're paying currently on our national debt, in terms of a combined interest rate, is somewhere in the neighborhood of projections of 1.4 percent to 1.6 percent. So they've been able to finance that at a very low rate. But that number is starting to creep up. And with the fed increasing interest rates, it will further creep up. And every 1 percent is $300 billion.

GLENN: So if we have an interest rate of five or -- five or six percent, we're talking like between two and three trillion dollars more, the entire budget.

CAROL: Yeah. Exactly.

It's just completely untenable, at that point in time.

So I would -- I would imagine other things happened, in the interim. But this is why, when we talk about things like MMT, Modern Monetary Theory, or what I call Magic Money Tree.

That says, well, you can just print into infinity, because we can just print more. Well, we're now living through that realtime experiment. As you said, no, you can't. It causes inflation.

It has real costs for the average American, and it decreases the value of every dollar that you hold.

GLENN: All right. So the best thing you can do is get out of credit cards. You should cut those up if you can.

CAROL: Yes.

GLENN: And pay them off if you can. Get a refi right now. Because you're probably paying about 16 percent for your credit cards, correct?

CAROL: Yeah. And it could be going up.

And anything that has that adjustable interest rate associated with, some people may have something called an arm and an adjustable rate mortgage. Where it adjusts over time. Maybe it's fixed for a certain number of years. Anything that is adjustable rate debt, is going to increase in price. And if you need financing -- let's say you have a business, and you haven't taken advantage of low rates yet. You're going to want to lock that in on a fixed basis now, because it's not going to get cheaper any time soon.

GLENN: Now, the other problem is, with raising interest rates. Let's say you have a business. And you need a loan.

If the interest rates starts to go up, that kills that business. They can't afford that loan. Just like we can't afford our national debt. Or you want to buy a house. Yesterday, mortgages. New mortgages fell immediately, just on the -- on the whisper, that it was coming.

We are seeing a slowdown in mortgages. Which means people will buy fewer houses. The scary thing about this, is you don't know where that switch is. You're just going to have to kind of guess. And it might shut everything down.

CAROL: That's the needle that the fed is trying to thread, in addition to dealing with the consequences of the national debt. What happens, is as they raise interest rates. You know, their intention is to slow down the economy. I mean, that's basically what it is. They want to slow down consumer demand.

GLENN: Right.

CAROL: But the question is: How do you do that, without creating a recession, or without creating reverberations for the economics of the average American?

GLENN: So can I be really, really cynical? I mean -- in fact, let me go beyond cynical. Let me go into, I'm a thriller writer. Okay? And I'm writing a thriller. And for some reason, this country needs to slow down the economy. But they can't slow down the economy, because then businesses will fail. But they don't really care about the average person. You know what I mean?

That's going to fail. We'll print more money. Put them on welfare. Tell they believe to stay home. Or whatever.

Wouldn't one way to slow the economy, for the consumer, but not slow the economy, for the big corporations, would a war do that?

CAROL: I think that would completely change the tenor of the economy. But I think that raising the interest rates does that, because kind of like we saw over the last couple of years, if you are a big corporation. You take advantage of that debt. You have that war chest. We've had that strong balance sheet. So in terms of the transfer of wealth, that is one way to do that. But the war, that would completely change the tenor of, you know, who benefits. And certainly, it would be the bigger guys versus the smaller guys. But it would be more defense, rather than the financial services industry, for example.

GLENN: Yeah. Okay. Carol, hang on. I have some more questions. And I would like you to explain a couple of other things, coming up in just a second. Give me 60 seconds. We're back with Carol Roth. The name of her book, is The War on Small Business. A must-read.

GLENN: All right. So I want to talk to you about the dollar being the world's reserve currency.

Because I'm watching these sanctions, that are being put on.

And I'm seeing things happen, to where, if I'm another country, especially Russia. I'm going to China, immediately, saying, I want to partner with you. Because they just made my money worthless. I can't get my money out of the central bank. The Federal Reserve. That's my money.

And they won't let me get to my money. If that starts to happen. And then Saudi Arabia starts to sell oil, off of the petrodollar, that's really bad news. And let's say, the West holds together. But half the world is off the petrodollar.

What does that mean for us, Carol?

CAROL: It potentially means the end of the U.S. dollar, as a reserve currency.

GLENN: Explain what that means. Because -- I mean, to the average person. Forget about, you know, the central banks and everything else. What does it mean to the average person? To have half the world get off our dollar?

CAROL: Yes. So this is why I love you, Glenn. Because we take the most complicated concepts in the world.

GLENN: I know.

CAROL: And trying to explain them, as if, you know, it's Elmo and Big Bird here --

GLENN: Right.

CAROL: The idea of being the reserve currency. Is something that's -- you know, has sort of a long history. And it means, particularly in the case of goods and services. But also in the case of oil, that everyone in the world, pretty much agreed to use dollars, for a settlement. And that puts some responsibility on the United States. There's something that is called the Triffin dilemma. And there was an economist back in the 1960s, who basically said, there's a conflict. If you are going to be the world reserve currency, you're going to have to make tough choices. And you're not always going to be able to do what's right, at home, in order to make sure you're doing what's right, in the national sphere.

GLENN: Everywhere. Yeah.

CAROL: And unfortunately, you know, this has been an issue, that's been going on for a long time.

But in recent times. As we've been talking about with the fed and the decisions they've made. They actually haven't done right by either party.

They've been screwing over the average American, with their policy. And transferring wealth. But they've been doing the same thing in the national sphere.

And, frankly, a lot of countries are getting sick of it.

And so there have been predictions for quite some time, that there was going to be an event -- an adviser actually to the OECD said that it's probably not an economic event. It's a geopolitical event, that's going to expose the system. You know, wink, wink, nudge, nudge. And so a lot of folks feel like the sanctions that were made against Russia, were potentially a cover story. That we know that we'll potentially lose this reserve currency status. So we're going to say, well, we did it, because we had to take a stand.

But the reality is, you know, as we've now shown the world, you can put your money, in our central bank. And you can buy Treasuries. And U.S. dollars.

But you might not be able to access them. Which is not a really good thing, if you're going to be the world's reserve currencies.

GLENN: Correct. Correct.

CAROL: So there's a couple of potential outcomes. And I know you've been talking about this, Glenn. But, you know, one thing that folks have been talking about.

Is does China potentially step into the reserve currency position?

There is an issue around them. Because usually, if you have the reserve currency, you run a trade deficit. And we know that China is a nation of exporters. Are they really going to step into that? I'm not sure.

The other thought is, listen, we've seen so many banks. Central banks around the world. Print so much money. There's all this debt. You can't really just say, we're going to cancel it all. Because there's counterparties. There are people on the other side of the debt. So what could you do to offset that?

GLENN: Hold on. Hold on. Elmo and Big Bird has to stop. Because Elmo says, there's only 20 more seconds left.

CAROL: Okay.

GLENN: So we will come back. Because I really want to hear this -- this other new plan, and canceling debt just opens up Pandora's box, at least in my head. We'll talk about that, coming up more. Carol Roth, coming up in in just a second. Stand by. That's right. Did you get the vaccines yet?

GLENN: We're with Carol Roth. She's the author of the -- of the book, The War on Small Business.

She's a former investment banker. Don't hold that against her. She calls herself a recovering investment banker. She worked on Wall Street for years and years. Then kind of went, oh, I might be on the wrong side here.

And is trying to do everything she can, to strengthen individual businesses. Small businesses all across the country. And I love her for it.

Carol, you were just saying, that one of the options, in this nightmare scenario, which I think is unfolding in front of us. Where the world reserve currency, is not going to be the dollar.

I don't know what it is. But they're going to change the dollar, from what it is. To a digital dollar.

And I don't know how it all shakes out. But probably not very well.

But you brought up, there is all this debt within that we just can't cancel, because there's other people on the other side of that debt. So explain what you think.

That can't happen, you say.

CAROL: Well, I mean, nothing is a never scenario. Right?

GLENN: Not anymore.

CAROL: In an unprecedented situation. And, you know, for people who are students of history, despite all of the wreckage that could come from this, it's a very interest pointing in time. Especially, financially, you had the U.S. dollar as the world reserve currency. You had then us going off the gold standard. Then you had us, you know -- with the petrodollar, basically saying, we will manage the dollar as good as gold for oil.

And then you had the fed, basically go completely rogue. And not do that.

And anybody who is holding reserves, that they're supposed to say, well, the U.S. dollar is safe. And it's a good store of value. We'll keep devaluing it. That's not a thing.

And so -- and, by the way, these are not my theories. I'm just communicating what is out there, from people who are far smarter than I -- everybody by writing up another asset. So is there a neutral asset, that central banks have access to, that's on their balance sheet, that maybe they have been buying, at really good prices, that all of a sudden everybody comes together, and says, well, we'll just write up the value of that?

It's like writing down the -- gold.

GLENN: Gold.

CAROL: So central banks have been buying tons of physical gold. By the way, billionaires have been buying a lot of physical gold as well. And I'm using the term physical, because it's different than the market that is traded.

GLENN: ETFs. Those are ridiculous.

CAROL: ETFs. That's done in dollars. So who is backing that?

But physical gold. So there is a theory going around, that potentially that standalone basis or a basket of neutral metals. Which was thrown out as an idea, early on. When it was pushed aside for the U.S. dollar. That maybe there is this -- meeting of the minds.

And, you know, this is the way that you make all of these other central banks. And countries full. Is you just write up the value of that gold.

So if you think that that's going to happen. And you think that the financial system is going to collapse, you know, then you want to be owning physical metals. And have a store of that.

GLENN: Because when you say, they're going to write off debt, you don't mean people's houses. You mean --

CAROL: No. This is government debt. They cannot write up government debt. Because when you take -- that's a loan, right? You owe the money back to somebody. So the other side of potentially doing some sort of. We'll have mass forgiveness.

Is that when you take something else that everybody else has. And you say, it's more valuable. Overnight. It's magic.

GLENN: That doesn't sound like --

STU: Bad magic trick.

GLENN: Yeah. It sounds like -- we're dealing with a lot of black magic.

Stu and I were talking about this story that came out of Britain. We hadn't heard anyone talk about this. Explain what happened.

STU: Yeah. Just a little background. It's in the London metal exchange.

And it's the price of nickel. Now, I know no one cares about the price of nickel. Just to give you the basis here.

GLENN: Tesla does.

STU: Yeah. That's true. If you're buying an electrical car, it's true. Basically, the last five years has bounced back and forth between 10,000 and 20,000 per metric ton. Okay?

It got up to a little bit above 20,000, in the last few weeks. Obviously, all this time going on with Russia. Russia, Ukraine. Big sources where it comes from, for all these electric batteries. It goes basically from 20,000 to 80,000, in basically a day.

Okay? So four times, in one day. So let me read this: This is from the Wall Street Journal.

GLENN: Listen to this. Have you read this, Carol?

CAROL: Oh, I know this story. I do know this story. So we can talk about this.

GLENN: Yeah, this is crazy. Listen to this, America. This is craziness.

STU: Yeah.

So traders on the London Metal Exchange smelled blood, and nickel prices almost doubled in a short period of time. A Chinese company faced a 1 billion-dollar margin call. That exchange officials felt they couldn't meet. Rather than let it fail, which would have probably taken down several of the smaller brokers that serviced them. The London metals exchange decided to cancel all of the day's trading. More than 9,000 trades, worth about $4 billion.

It canceled the trades. Not because of a fat finger error. Which exchanges often cancel. Not because of a rogue algorithm, as regulators claimed in the 2010 flash crash in U.S. stocks, but because someone with too much leverage was going to blow up, with effects on some members of the exchange.

This moral hazard is taken to an extreme. It's always been true, that if you face a 100-dollar margin call, it's your problem. While if you have a one billion dollar margin call, it's the broker's problem. And the authorities might save them. What is almost unprecedented here. Is the exchange authorities decided to save them, with money taken from other traders, who otherwise would be sitting on fat profits.

I mean, you won. You picked the right direction. You've got these huge profits. And they cancel your trade, to save someone else.

GLENN: And it's China.

STU: And it's China.

GLENN: I mean, there is no such thing as a free market with this.

CAROL: No. This is another too big to fail scenario. It happened to be -- I believe it was an individual billionaire, who had made a short set against nickel. So he went in the other direction.

GLENN: Wow. I mean, then you don't -- you don't put the money down on the table. If you don't know what the odds are, and you're not willing to lose your money.

That's like going to Vegas, and -- and placing a huge bet, and when you lose it, you're like, hey.

You know, Caesars. I mean, this is crazy. And Caesars says, oh, we're not going to count that bet.

That doesn't happen!

CAROL: It's horrendous. And it goes back to the integrity of the market. And so many that the retail investors have been rallying against. And it's just another example. And there are big name banks involved. The exchange was actually shut down for multiple days, I believe. Before it started trading again.

And the people who made a bet, and decided to participate in the market, ended up getting screwed out of their profits. But they're never going to get the leniency, if it happens to them on the other side.

GLENN: No.

CAROL: And just the overall integrity, like you said. This is not a free market. It's not a fair market.

And we have too many of these big guys, who are being saved, at the expense, sometimes literally, sometimes figuratively, of the small guys, over and over and over again.

GLENN: And that's what I think people are so sick of.

And when they see this next crash. Especially with Janet Yellen saying, it will be equitable. When we reassemble, it will be equitable. What the hell does that mean? Probably stuff like this. And when they see the rich getting richer. And I don't mean a person who runs a business and may have a million dollars.

I mean the rich.

The elite of the elite. The BlackRocks of the world.

The banks of the world.

I just -- when their debt is being bailed out and real Americans are paying huge money for their food and their gas. And then their home is taken, there's trouble. That's real trouble.

CAROL: Yeah. And unfortunately, that is the scenario. There's one thing to become wealthy, because you earned it in a fair playing field. That's something that we want to celebrate. But we do not want to celebrate, when the playing field is tilted. When somebody has their thumb on the scale. When we have this transfer of wealth from Main Street to Wall Street. Which has been going on for, you know -- in a very large part, for a decade and a half. But it has accelerated over the last year and a half. And, you know, we talk about all of this coming to fruition. And us losing reserve currency status. It's going to mean a slower economy for us. Because we are not in a position. We don't have the strong manufacturing face. Or a competitive pricing. To be able to export. So all these people are like, oh, that's great. We'll reshore the job. They're not thinking in context of the existing economic structure. It will be unfortunately, very painful. But just to have a moment of hope here, Glenn. Because this is really doom and gloom. Is you have to remember, in any time of pain, there's always opportunities. So it is incumbent upon you, to find where those opportunities are. And what --

GLENN: So average person is saying, what is that opportunity?

CAROL: Yeah. It's finding the things that have inelastic demand. Meaning, people will pay prices even when they're continuing to increase and making investments and those kinds of things. Or retooling your business. To be servicing those markets. It's those kinds of shifts, where you have to look for those hidden opportunities.

In what could be a completely new economic scenario for us, going forward.

GLENN: I -- I think what you just said, translates to what I just told my kids.

You get into the job market. You have to be the most effective, efficient, and hard-working employee. Even if you're not at the top of the food chain, you have to be the one that the boss says, oh, we can't.

Because he'll do everything. I mean, he's a little bit. I mean, he works like crazy. You have to be that person. Right?

CAROL: Absolutely. Absolutely. Invest in yourself. And make yourself indispensable to a customer or to somebody that you're working for.

It's a huge competitive differentiation that will only get more important.
GLENN: I would love to have you on, maybe early next week. I just had one of my producers put some stats together on inflation.
And what that actually means to people. I mean, when Biden got in, a hamburger. An average hamburger was $4.40.

Today, that average burger is 601. And if we look at what they say, things are going to be, you know, with -- with the -- what are they saying? 7.9 percent inflation.

That number is going to be $7 force a burger by the time of the next election. I don't think that stat is right. You want to compare apples to apples. Look at how they measured it back in the 1970s and '80s, when we hit it before. That would mean that that hamburger would go from $4.40, to almost $8 by the time we hit a presidential election.

I just want to talk to you about inflation. And how to beat that.

CAROL: Plenty to talk about, would love to.

GLENN: Thank you very much, girl. Appreciate it. Carol Roth. The name of the book is War on Small Business. Make sure you pick it up.

Did Kamala Harris SURRENDER Her VP Pick to the Obamas?

Barack and Michelle Obama have finally endorsed Vice President Kamala Harris to be the Democrat Party’s 2024 presidential nominee. But what took them so long? Glenn has a theory: their endorsement wasn’t free. Did the Obamas only endorse Harris after she agreed to let THEM choose her Vice President? Glenn explains why he believes that the Obamas wanted Arizona Sen. Mark Kelly, not Harris, and may force him onto the 2024 ticket.

Transcript

Below is a rush transcript that may contain errors

GLENN: Well, we welcome back Mr. Stu Burguiere. Who was gone this week. And conveniently showed up just in time for big Mike to endorse Kamala Harris. But if you heard the endorsement from Michelle Obama and Barack Obama, it doesn't ring true to me. Let's play that endorsement.

BARACK: Kamala Harris.

KAMALA: Hi.

MICHELLE: Hey, there.

KAMALA: Oh. Hi, you're both together. It's good to hear you both.

MICHELLE: I can't have this phone call, without saying to my girl Kamala, I am proud of you. This is going to be historic.

BERNIE: We called to say, Michelle and I couldn't be prouder to endorse you, to do everything we can to get you through this election and into the Oval Office.

KAMALA: Oh, my goodness. Michelle, Barack, this means so much to me. I'm looking forward to doing this with the two of you, Doug and I both. And getting out there, being on the road. But most of all, I just want to tell you, the -- the words that you have spoken and the friendship that you have given over all these years mean more than I can express. So thank you, both. It means so much.

And we're going to have some fun with this too, aren't we?

STU: I bet there's a good laugh they cut out of that one.

GLENN: Right.

STU: A good cackle.

GLENN: What did that cost her?

What did that cost her? That's a very transactional couple there.

STU: Yeah. Not nothing. I think you can be certain of that.

GLENN: Yeah. It wasn't like, yeah, you know what, Michelle. We've been thinking about it. And without any thought of calling anybody. Or making any deals. Or getting something for us, or anything that we want. You know, we just love you so much.

And we just want to give this to you, for free.

What did that cost her? My guess is, one of the pieces that it cost was Mark Kelly. Barack and Michelle want Mark Kelly. They do not want Kamala Harris. That's why he hadn't endorsed.

And he was hoping, that this would all go away, after Joe Biden endorsed Kamala.

Because I think Joe Biden did that as a slap across Michelle and Barack's face.

STU: It was also interesting.

GLENN: Because they did not want her.

STU: Not the original letter.

When I -- we were going live on YouTube. At Stu Does America. On YouTube. We've been going live on these big events. Even when I'm on vacation. When that happened, I read the letter. And the first thing I noticed was, it did not include an endorsement for Kamala Harris.

Which is odd, if you're going to do this big announcement, why wouldn't you include it in the thing that everybody was going to read?

He was, ten minutes later, 15 minutes later, he released a separate tweet that was just like, I endorsed Kamala. And it was odd the way it was rolled out. So it does sort of back maybe -- maybe they came out with this main letter for history purposes. And then, you know, he kind of just wanted to stick it to them. Because I don't think he likes the Obamas at all. I think he's very angry about this whole thing.

GLENN: Oh, no. I don't think he likes the Obamas at all. And I don't think they like him. And I think he knew the candidate they wanted was Mark Kelly. Not Kamala Harris. And I think that's why the endorsement came from a separate thing.Io, you drop out of the race, you make that very clear. Nothing else.

So he issued that letter.

And then he came out. And said, oh, and, by the way, I also endorsed Kamala.

STU: Maybe Hunter controlled the Twitter for a day.

GLENN: Maybe. And then Michelle and Barack were like, oh!

Now, listen, Michelle. I'll tell you, maybe, maybe. I mean, let's not get all bent out of shape. They're not going to jump all over that. And they jumped all over that.

And immediately, he need became rallying around Kamala Harris. And she's the one. He held back.

People wondered why. I think it's because of Mark Kelly. They wanted Mark Kelly to be the guy. Because they believe he's the winner. And I don't know. If they have a chance to turn on her and do a coup on her, they will. They will.

STU: I have so many questions.

GLENN: And Mark will be the guy.

STU: I have so many questions for you. Let me first back up what you're saying, about the Barack Obama part of this. I don't know if people really bothered to read his statement at the time.

But everyone -- this is after Biden comes out and says, I fully endorse Kamala Harris. And many of his competitors who were rumored to come after the nomination if he stepped down, had already endorsed Kamala Harris.

And this is the paragraph that Barack Obama writes. We will be navigating uncharted waters in the days ahead, but have extraordinary confidence that the leaders of our party, will be able to create a process from which an outstanding nominee emerges.

Like, that is the farthest thing away from an endorsement of Kamala Harris you can possibly get. They did not want her.

I think it's blatantly clear. The only pushback on that, some reporting was, well, they don't want to endorse. Because they want to make it appear like it was an actual process to get to Kamala Harris. They must want to have their happened -- come on. Does anybody buy that? I guess my first question on your theory here is, why do you think Mark Kelly was such a big favorite of the Obama family?

Why would they signal him?

GLENN: Great question. Great question.

You cannot have -- as Barack Obama would say. Two exotics on the ticket. Okay?

Think of America as a husband and wife. Okay? And each party has a husband and wife element to them. So if you just listen to the husband, you would have a Ferrari and a Lambo in the garage, right? But if he's married, his wife says, you're not going to have a Ferrari and Lambo. It's not reasonable. We need -- you know, we need a Pacifica and an Accord. And he's like, good God, if I have to drive a Pacifica, I'm going to hang myself. I can't do that.

And so they'll compromise. You know, in the man's dream world, he has to pick between the Ferrari and the Lambo because they also have to have the Pacifica. Okay?

Mark Kelly is the Pacifica. She's the Ferrari. She's the one that you never know if it's going to break down. Good Lord, we don't know what it will cost us. You know what I mean?

It's not dependable. We need a Pacifica. And he is a -- he will be -- they have to have a patriot. They cannot continue to front this party with people who are known to hate America. Okay?

Can't. He's a white guy. You can't have two exotics, as Barack Obama would say. So you have a white guy who is dependable, who loves America, is super, super smart. Because you can't have two idiots on the ticket either. Well, they did that last time.

Well, maybe they've learned their lesson.

You can't have two idiots on the ticket either. Mark Kelly is the Pacifica.

STU: Hmm.

GLENN: Now, I think the Obamas wanted the Pacifica as the candidate. That's why he phrased what he did, in that, you know, hey. Thank you, Joe.

And, by the way, we look forward to a process, that will eliminate Kamala Harris. And give us something good.

And I think that person was Mark Kelly.

STU: That's really interesting.

Because I -- because, you know, one of the reasons why he's a Pacifica, if you will, is he's seen as a moderate Democrat. And he is moderate, in temperament. Right?

That is what he brings to the table. Very -- he feels like a moderate. The same way like, the 2020 version of Joe Biden was pitched that way. Right?

You could have a guy who was very calm. And he's a moderate. And he's just a guy from a working class community. He's served -- in Kelly's case. Served in the military. He's an astronaut. Come on. In reality, his voting record, is just as liberal as any of these other people.

And seems to have the same vision as so many other people on the left.

GLENN: So hang on just a second.

Let me explain just what you just said. Last time, the Pacifica was at the top of the ticket.

And they knew, we have to have a Lambo and a Ferrari. Something that is not necessarily dependable. But is flashy. And everybody is like, yeah!

All the dads would be -- you know what I mean?

In this car analogy. Like, we have to have one of those!

STU: Yeah.

GLENN: And that was Kamala. Now, she's at the top. So the Pacifica has to be the second one.

STU: I mean, it makes perfect sense.

You know, excuse me, came to the sort of Kelly conclusion as well. Based more on, like if you look at -- I do think the white guy -- the Pacifica thing is real. This is not real from my ideas or what I think. This is real from the reporting on Barack Obama's choice for vice president.

The reason why Joe Biden was picked was because he was old and white.

That is every piece of reporting from inside of that -- the -- that decision, that was Barack Obama, and Michelle, believed America was too racist, to have two exotics on the same ticket. These were their terms.

You needed to have one white guy, that the racists could sink their teeth into. And still be okay with this guy with the crazy name at the top of the ticket.

That's the way -- that's what they thought of America.

And it's quite clear, in so many of their comments. That's exactly what they thought in their comments. If you go back to the one, what was it know.

Pennsylvania voters. You have these people. They're angry. They're bitter. Clingers to their God and their Bible.

That's what they really believed about America.

Still believe about America. And so I think that white guy. The idea that they will pick Gretchen Whitmer. Or they will pick --

GLENN: She's another exotic.

STU: Yeah. Anything that has anything outside of white guy is I think outside of the picture.

99 percent chance of that.

GLENN: And I think it's important to say now, it also has to be somebody who at least appears to love the country. I'm not saying he doesn't.

But it cannot be somebody -- it can't be a always.

STU: Right. It's got to be somebody who has --

GLENN: It has to be somebody who is like, I don't mind Antifa.

STU: It has to be someone with moderate temperament. Which Kelly has. He seems like -- military guy. Astronaut. Hero. You all these things.

And I will say, one of the other things that I think is central to this. We just had a presidential assassination attempt. Where apparently someone flung glass with from a long distance, at the President Donald Trump when he was on stage.

GLENN: The New York Times just did a piece, an analysis and said, it's definitely a bullet.

STU: Yes, they did.

GLENN: Meanwhile, Christopher Wray testifies that, well, Trump. It's really up to him to prove that he's been shot. What!

STU: That's really weird. Even the Times is dismissing that nonsense.

GLENN: Now, wait. One more thing on that. I really do think it could have been a piece of glass. Because right at that moment, Kamala broke the glass ceiling. And so maybe --

STU: Wow, that should be the center part of her convention speech, I think.

GLENN: Yeah. Yeah.

STU: When Donald Trump was struck by glass.

But on the Kelly part of this, the -- I mean, there is obviously a sympathy for Donald Trump.

His -- you know, his approval ratings have gone up, at some level. To the highest they have been, in some of these polls, in recorded history.

There is -- that moment was iconic. And everybody knows it.

With Mark Kelly, he's married to Gabby Giffords.

Gabby Giffords was a congresswoman who had an assassination attempt against her. Like this was their big pitch to come to the American people to bring gun violence into the picture.

Remember, they were blaming Sarah page for this. Targeting her district.

It was that shooting.

They can come back and say. Well, look, their main pitch for this. Republicans are the violent ones.

They've obviously lost ground on that one. That argument is dead after the president was almost killed on stage. So now you have a situation where this can kind of disarm the other side of that.

They can say, it's not just left and right. It's gun violence, and bring the gun violence case back in. Which I think this is absolutely the group of people, who would come to such a -- just cold, calculating decision.

To say, we'll use her, and her tragedy, to try to fend off this assassination attempt, that we now have to, quote, unquote, deal with. And not to mention, you go through, this is also a swing state.

It was one of the closest states in 2020. Even though, it's not all that close at the moment. I think -- and they have a good relationship behind the scenes.

Kamala and Kelly have had a good working relationship for a long time.

That's how I came to the conclusion. It's different how you came to it.

It's interesting. It arrived to the same place.

It's terrifying. That means we're both definitely wrong.

GLENN: He could only pray.

America Has Taken a BEATING. But We Must "FIGHT! FIGHT! FIGHT!"

It’s been a long 3 weeks. America has been beaten and shocked day after day. There was Biden’s disastrous debate, the failed assassination attempt against Donald Trump, the Secret Service’s failure to uncover why it happened, Biden’s flip-flop on the 2024 presidential race, the Democrat elites’ coronation of Kamala Harris, and most recently, the pro-Hamas riots in Washington, DC. If the events of the last 3 weeks had happened in the Soviet Union, we would all call it a coup! But yet, the media continues insisting that everything is fine. “Nothing’s changed for them. Your whole world has changed,” Glenn says. “Our country is in dire trouble.” But we can’t lose hope. Glenn reminds us of 2 heroic moments that should inspire us to, in the words of Donald Trump, “fight, fight, fight!” But not on the streets like the leftist mobs. We must fight by learning the truth and refusing to be silenced.

Transcript

Below is a rush transcript that may contain errors

GLENN: So it's been a long three weeks. Remember, this phase, this chapter of America, this birth pang, started just a few weeks ago when we had a debate and the president froze on stage. He couldn't remember where he really was at -- at any given time.

He wasn't making sense. He had no word retrieval. It was a frightening moment for many Americans.

Not because, oh, my gosh. He will lose to Donald Trump. But because that guy is the guy who is running the country right now.

That's not an easy job. And we have enemies, breathing down our neck. And they are looking at us. And licked their chops.

We, because of the policies of this president, we for the first time, since I was a kid, we were actually talking about the use of nuclear weapons!

That's insane.

So when that shock hit us, and we were like, this is the guy running the country. What was happening?

And the shock of, we've been lied to by everyone. They've told us, he was fine. Sharper than ever.

He's the sharpest tack in the drawer. And we realized, he's not in control.

Who is?

What did this mean?

Why didn't anybody say anything?

Why hasn't the cabinet invoked the 25th Amendment. And all of that leads us to, who can we trust?

Who has actually been running the country?

Why hasn't anyone said anything. And if you do say something, how come you're labeled a conspiracy theorist?

Remember, if you said four weeks ago that he was incompetent and unable to continue as president of the United States, you were a conspiracy theorist.

A year ago, when Democrats were saying, he can't run for another term. We want somebody else. The Democratic Party squashed those people. Wouldn't you have a primary. Because he's our guy.

So that's what began four weeks ago.

And then what was it? A week, week and a half after that, we have this moment with President Trump in Pennsylvania.

DONALD: -- I really see something that said -- take a look at what happened.
(yelling)
GLENN: So we don't know who is in charge, and then a week later, the guy running against him, is gunned down on live television.

And we don't know, really, what happened. In fact, we still don't know what happened. Because the head of the security. The Secret Service, we all figured out and found out, was hired by the First Lady, not the president. The First Lady was the one who pushed for her DEI hire at the Secret Service, and she was protecting Pepsi Co.

And now, the most important leaders of the world. And so, we went okay. Well, there's another shock.

But let's hear her out. And she testifies, and she says this.

VOICE: Was this a colossal failure?

KIM: It was a failure.

VOICE: Yes or no. Was it a colossal failure, yes or no?

KIM: I have admitted it was a terrible --

VOICE: This is a yes or no series of questions. Was it a colossal failure? Yes or no?

KIM: Yes.

VOICE: Have you provided a list to the Oversight Committee? Yes or no?

KIM: I'll have to get back to you on that.

VOICE: That is a no.

Have you provided all audio and video recordings in your possession to this committee as we asked on July 15th? Yes or no?

KIM: I would have to get back to you.

VOICE: That is a no. You're full of (bleep) today. You're just being completely dishonest.

GLENN: I know you're reeling. This is all in a three-week period. Now you're reeling from that. Wait a minute. Was this a setup? What are they covering up? If they're not covering something up, why wouldn't they just be open and honest and transparent? Why wouldn't they feel like most Americans. And now they realize, well, maybe they feel like most Americans. Those we saw on social media, right after the assassination attempt, like they were screaming like they were crazy people.

You missed!

How did you miss!

And a little bit of the American soul just kind of vaporizes and disappears. What is this?

So after that happens, just a few days later, the president is being pressured to resign.

And will let it be his decision. Well, I've already made my decision.

God will have to remove me himself. Saturday, he's saying the same thing.

Then suddenly, Sunday morning, I believe he was given a choice. A coup happened! And our president resigned. Now, I think he should have resigned. Not just from the candidacy, but from the presidency of the United States. Another shock to you. Wait a minute. Wait a minute.

He's not okay to run a campaign, but he's okay to run the country!

What? And then his replacement is announced. Here is Chuck Schumer. Listen to this.

VOICE: So now that the process is played out. From the grassroots, bottom-up, we are here today, to throw our support, behind vice president Kamala Harris.

I'm clapping. You don't have to.

GLENN: Okay. Good. Thank you.

As the process played out? From the grassroots up? No grassroots movement was going for Kamala Harris. None. None.

Nobody at the bottom voted for her. She was in the primary. She had -- let me count all of the delegates that she won. Zero!

Zero. She was rejected by the voters. And then she was strangely just picked as, oh, she's the one we want.

And the party elites picked her. And then, they had a coup, and picked her again.

And are trying to convince you, that that was a grassroots effort?

What is happening?

Well, the same thing, they've just changed faces. The same kind of cover-up. The same exact kind of garbage that you got from the press before, is happening again.

Who is Kamala Harris.

Well, we know she is fine. And she has a spotless record, right?

We know she's fine. Just like they knew Joe Biden was absolutely fine.

And you're a conspiracy theorist, if you say anything differently.

Well, now, we watched it, with our own eyes.

And media has confirmed it for the last three and a half years. That she was in charge as the border czar.

We have the videotape of all of them saying it. But, no, no, no. Now, we have to change our history.

We have to change our news.

Here's the media. Cut 31, please.

VOICE: Quote, unquote, border czar. Vice President Harris was not a border czar.

VOICE: Meantime, Vice President and border czar, Kamala Harris facing some back lash.

VOICE: What he said about Harris and immigration was not true. She was never appointed border czar.

VOICE: And this will be her first visit to the US/Mexico border region since she was appointed as the border czar by President Biden.

VOICE: People are going to have to tell me about the misinformation. You already hear folks talking about the border czar. She wasn't the border czar.

VOICE: President Biden tagged Kamala Harris -- Vice President Harris to be the border czar.

VOICE: Now, she wasn't the border czar. That's what Republicans labeled her.

VOICE: They were very critical of Kamala Harris, especially in her role as border czar.

VOICE: Now what she's up against is folks lying about her border record, calling her a border czar.

VOICE: Kamala Harris, who was appointed as the border czar.

VOICE: The Biden team didn't declare her the border czar. They wanted her to work on kind of the root causes of immigration.

VOICE: There has been so much criticism against Kamala Harris, you know, she was the border czar.

VOICE: Calling her sort of the border czar, which wasn't necessarily the case.

VOICE: So the border, if they weren't planning to address it in a major way, do not make her your border czar. She met with some of the northern triangle countries, but nothing has effectively changed.

GLENN: Nothing has changed for them.
Your whole word has changed. Our country has changed.

Our country is in dire trouble. There is a clear and present danger off our shores.

It's called China. North Korea. It's called Hamas.

It's called Iran.

Russia. Do you think they're playing this little game of border czar, he's fine, you're a conspiracy theorist!

They know. Just like you know.

And you are looking at this going, this is madness. But that's not all that's happened.

In the last three weeks, let me pick it up here in 60 seconds.

First, let me tell you about Relief Factor.

Hannah wrote in about her experience with Relief Factor. She says, Relief Factor got me out of pain.

I can now work in my flower garden again. Walk my dog. Run up and down the stair without being in pain all the time. I also sleep through the night now, which I never used to do. Never happened.

You don't have to use an ice pack for your knee, Hannah writes. I don't use it anymore.

Thank you so much Relief Factor.

I love this stuff. Relief Factor. Hannah, I'm so glad to hear that you have your life pack. Relief Factor has helped so many people. It's 100 percent drug-free daily supplement. That helps your body fight pain naturally. Developed by doctors. Relief Factor is a unique formula of natural ingredients, that address the inflammation in your body. Which is where your pain starts.

And it doesn't just mask your pain for a short time. It helps reduce or even eliminate it. So go to Relief Factor now.

Or call 1-800-4-Relief. 1-800-4-Relief.

Save on your first order at 1-800-4-Relief.
ReliefFactor.com. Fight pain naturally with Relief Factor. Ten-second station ID.
(music)
I just want you to recognize, why you might be on edge.

Why you might be so tired, right now. A lot has happened, your country, that you love, assuming that you do love it.

Your country has taken a beating over the last just three weeks. Presidential debate. Let me just remind you of that moment again.

VOICE: Until we get the total ban on the -- the total initiative, relative to what we're going to do with more Border Patrol, and more (inaudible).

VOICE: President Trump.

DONALD: I really don't know what he said at the end of that sentence. I don't think he knows what he said either.

Look, we had the safest border in the history of our country.

GLENN: Stop. Here's the amazing thing. That was a body blow to many Americans. I knew what this state was of our president.

You can see it. But for half the country, it had been denied.

And we were called liars and conspiracy theorists. I didn't celebrate, when I saw that.

I was terrified when I saw that. So yesterday, the president resigns. Cut eight. From the race.

Cut eight.

BIDEN: In the honor of my life, to serve as your president. But in defense of democracy, which is at stake, I think it's more important than any title.

I draw strength, and I find joy, in working for the American people.

But this sacred task, of perfecting our union is not about me.

It's about you! Your families. Your futures. It's about we, the people. And we can never forget that. And I never have.

GLENN: Hmm.

Another body blow last night. The -- well, I'm not going to get into it. If you don't understand what I meant by body blow of just that portion of the speech, I don't think you understand.

But he's talking about our republic is at stake. And while he's speaking, just a block and a half, from the Capitol building, at the union train station, they're taking down the flags and burning them in the streets.

Here's what happened with the Palestinians in Washington, DC, yesterday. Cut four. They are painting our statues, Hamas is coming. And they are taking down our flags. This is a federal property.

They're taking down the flags, and they're burning them. Imagine, on January 6th, if they would have done that. If they would have spray-painted on the wall, the right is coming.

Imagine the jail time for parading. Nothing happened yesterday.

Ronald Reagan's voice echoes almost every day this my head now.

Not from his presidency. But when he was standing up in 1961, or '64.

And he was talking about a time of choosing.

He had been a Democrat his whole life. And I think he was the first one to say, I didn't leave the Democratic Party, they left me. And he said, it's a time for choosing. And it is.

The president said it last night in his own speech.

You and I both know, and I don't know why our -- our friends, who are Democrats, and I'm not talking about the ones in Washington, or the real de-political people.

I'm talking about the average person. I don't know why they won't admit it. Or they can't see it.

But this is not America. The last three weeks, could be coming from the old Soviet Union.

Prejudice Nevada. Speaks. Loses his place. And looks confused.

Then his challenger is shot after everybody is saying, he's not in charge. He can't be the guy. His main competitor is shot and almost killed.

Would we except that at face value in the Soviet Union? No. Then a coup happens. And Brezhnev is saying, I'm not leaving yet, yet, yet. Then a note is issued with a weird signature that you've never seen before. A weird signature on it, that says, yes. Okay. I'm leaving.

Would we accept that at face value?

And what would we expect to happen? Brezhnev, a couple of days later, coming out and having a press conference, after some sort of deal seems to have been brokered. And he would endorse the new guy, stepping in.

And the press would say, what a hero Brezhnev is! What a proud son of the republic. Right?

That's Soviet stuff.

That's not American. The protesters on the streets, nothing happens to them.

You are seeing our history destroyed. The real time destroying of news and history.

Rewriting of history. You're seeing our traditions destroyed. But I want you to keep one thing in mind: This is where you are right now.

Most likely. And you're like, jeez. I just feel horrible. Great!

Let me say some things to you that the mainstream and the -- the political party, does not want you to hear.

GLENN: Welcome to the Glenn Beck Program.

Pat Gray joins me today. If you just joined us, you missed an effort to try to explain probably why you feel beat up and you feel tired. We all do. Because we have watched our country take an absolute beating from the debate, right into the assassination, right into the, you know, people and social media screaming, how could you possibly miss? Which was just another assault on your senses.

Then the Secret Service director Cheatle saying, yeah. Well, it was a slopy roof. And we don't like to put people on hot, slopy roofs. And then another -- then a coup happens. Kamala is made the nominee. And they start changing history again.

And start saying, oh, no. She was never the border Florida. When they were the ones who told us she was the border czar. Then last night, the president, while he's doing that, the Palestinians are marching for Hamas, in Washington, DC. And burning an effigy of Bibi Netanyahu, and taking down the flags in front of the Union Station, a federal building. And burning the flags. That's what happened in the last three weeks.

And you're like, there's nobody doing anything.

There's nothing. Well, let me show you another side.

And let me show you what happened when the Palestinians took the flag town. They started burning it.

And there was a group of Americans that went in for that flag. And they were police officers. Let me show you the bravery, it took to go in. And get that flag.

Here you see, maybe what? Ten police officers.

They are surrounded by an angry Hamas crowd. And they are getting the flag, off of the ground.

And people aren't happy. And they lock arms with the flag, and back out of the area. I watched this, and I am moved by the bravery of those officers and I am grateful to those officers.

That they remember who we are. You have a right to burn the flag. You're a moron if you do it. But you have a right to burn the flag. But you do not have a right to deface our monuments, to write Hamas is coming on our monuments.

Take town our flags, and then fly the Palestinian flag. No. I'm sorry.

You don't have a right to do that. And in a sane America, you would have been arrested. But we're not a sane America. We're a sick America.

But I want to show you the parts that are standing. The left immediately went after Donald Trump, when he stood up, after being shot in the head.

Secret Service wanted just to rush him out of there. But he said, and you can hear it on the tape, no. No. No, no.

I need to say something to people. No.

Wait. Wait.

And then he did something, that I fear too many of us have already forgotten.

VOICE: Wait. Wait. Wait.

GLENN: He stands up with a clenched fist and says, fight, fight, fight!

VOICE: USA! USA!

GLENN: The press immediately tore him apart saying, look, he wants violence. No. He does not want violence, he is saying, fight for your country. Stand up for your country. Do what those police officers did yesterday. Fight for your flag!

Fight for our history. It's not violent, it is passionate.

And it is rooted in eternal truth.

There are far too many examples, of people being cowards. Far too many examples of people being stupid.

I come to you today, to ask you to recognize the light, the shadows are growing so very dark. But that is only possible when the light begins to get brighter.

Be that light. Be that beacon of hope, in somebody's life.

My executive producer Ricky, this morning. Said, it's been a rough three weeks. And she had tears in her eyes, and she said, I'm just watching my country be destroyed.

And all of us on the -- all of us on the meeting, we all fell silent, because we all felt exactly the same way.

But it's because of her bravery, to say how she felt, that I am giving you and her, this monologue.

It's always darkest before the dawn. They have trashed our country for 20-plus years. They have brought us to the point to where we're at a breaking point.

A place where I said, we would be.

I hoped that we would not. But the country cannot go on, much longer like this.

But I want you to take courage, from the things, the two things that I just showed you, that also happened this week.

And they were big things. They're just not getting play in the media, because that's not their narrative or their agenda.

Your narrative. Your agenda. My narrative, my agenda, is to save the republic!

Now, remember, it was just four weeks ago, that we were having the discussion, whether we were a republic, or a democracy.

And the same people that are lying to you today, about Kamala Harris and the border czar and are in this sudden whipped up frenzy to change history.

All of them are doing it. It's because they're exactly the same people. And they are answering to exactly the same people.

It's just Kamala that they're helping and covering for now.

And not covering for President Biden.

Because President Biden, he has been used up. He's finished.

Move on! They are also the same people, that were telling you, four weeks ago, that we are a democracy. And when we spoke out and said, no. It's a very important distinguish -- distinguishing characteristic.

We are a republic.

We have a democratic vote. But after that vote is taken. Then we're a republic!

They told us we are conspiracy theorists.

That are whipped up, by the right and -- and Donald Trump, because it's our plot. To make people believe we're a republic. Well, let me quote President Biden last night!

Cut 15.

BIDEN: When Ben Franklin was asked, and emerged from the -- the convention going on, whether the Founders had given America a monarchy or a republic, Franklin's response was, a republic, if you can keep it.

A republic. If you can keep it. Whether we keep our republic is now in your hands.

GLENN: Yes. It is. But what he means is, go out and vote. What Franklin meant was educate yourself. Be a responsible citizen. Care about these things. Talk amongst yourself about these things. Discover the truth.

Because the truth will be -- there will always be people who try to hide the truth from you. And it is your responsibility, not the media's responsibility, not my responsibility, but your responsibility.

To educate yourself. And when you see an injustice, fight!

Fight! Fight.

You fight for what is true. And then you go to the ballot box.

You fight for the truth, because it's worth fighting for. It's worth living for. It's the only thing that will change our children's life for the better. Is the truth!

So damn right, fight!

And use that one day that we have a democratic democracy tool, at our disposal. And vote.

You know, I was going to say, may God save the republic. But I was reminded that it was a millimeter, that the president walked offstage two weeks ago. Bleeding from the side of his head, his ear was clipped off.

You and I both know that was a miracle. How dare us feel beaten and discouraged. When the arm of God was made bare. He's doing his part, may you do your part, meet my part.

May we save the republic.

The REAL Threat to America: Pro-Hamas DC Riot or Jan 6?

Pro-Palestine protesters took over parts of Washington, DC, to show their hatred of Israeli Prime Minister Benjamin Netanyahu and Blaze Media national correspondent Julio Rosas was on the ground to document it. Julio tells Glenn how the protesters spray painted monuments with messages like “Hamas is coming,” tore down American flags at Union Station and replaced them with Palestinian flags, and burned the American flags. He also recounts the heroic actions of the US Park Police, which he says was sorely understaffed. Plus, he reveals the biggest differences between these protests and the January 6th Capitol Riot, which he also documented.

Transcript

Below is a rush transcript that may contain errors

GLENN: Julio Rosas is with us.

He's a Blaze media national correspondent. He was actually standing with the protesters yesterday. Not protesting. But I'll bet he was parading. He should be arrested.

But he was with the protesters, the Hamas protesters, who were absolutely vile. Outside of Union Station, where they took down the American flags, replaced them with Palestinian flags. And then defaced all of our monuments there at Union Station. Saying Hamas is coming.

Which I really like. You know, I like that warning. I don't think I needed it. But I like that warning. Julio is with us now, to tell us what it was like in the crowd. Hi, Julio.

JULIO: Hi, Glenn. Thanks for having me.

GLENN: You bet. So what did you see that surprised you? And what did it feel like?

JULIO: Well, nothing surprised me. I mean, the whole reason why I -- the whole reason why, you know, we were willing to -- Blaze was willing to send me is because I told them.

I said, this is going to get out of hand. Because this is not Biden. This is not Harris. This is Benjamin Netanyahu that is speaking to Congress. I mean, this is their guy, that they hate the most. He's in town.

So this will be their only shot to make their -- their attack, in terms of destruction and rioting.

And so I'm not surprised at all, that they are no longer hiding their Hamas support. And like you said, we've all known this for a while.

You, but now they're really letting the mask slip. Just because the war has continued. In Gaza. And there has been a cease-fire. There has been no -- Israel hasn't ceased with this. They are getting madder and madder as the months go on. It was crazy. Them tearing down the American flag. Inside Union Station. Again, it's not surprising.

They've done that. Similar groups have done that all across the country. To the credit of the US park police. They did move in to stop -- and I filmed that for TheBlaze media.

GLENN: Yeah. I have to tell you, I watched it. Hang on just a second.

Can we play that video? If you happen to be watching TheBlaze right now. We'll play that video. And I'll describe what's happening. You're not seeing this anymore. You're seeing the depressing part of defacing and an angry crowd, and the Palestinian flags going up.

But you don't see what the US park police did, and it was -- they were greatly outnumbered.

And they go right into the crowd. In what was there, probably ten of them, Julio?

JULIO: Just about. Unfortunately, the park police, like other law enforcement agencies, they are severely understaffed. And that's something that their union has been vocal about for a very long time.

And so that's why, you know, they were able to make the arrests. They were able to save the flag, but they weren't able to prevent further destruction to the monuments or to the other flags.
And that's just because they didn't have the manpower to do that.

GLENN: Yeah. Well, we're $35 trillion in debt.

The cupboards are bare. You know, we're spending $4 trillion. But we don't have the money for extra law enforcement.

The -- the other picture you took. And I don't know how you got in there, to take this. But the picture you took of them folding the flag, inside the office. They took the flag back. And folded it up. And preserved it. That's remarkable.

JULIO: Yeah. And that is their -- they take that very seriously. I mean, the park police. They protect the national mall. They protect the monuments.

In New York and San Francisco as well.

And they take their job seriously. Because they protect these highly trafficked tourist areas. Things that are -- you know, when people say the United States. They automatically think of the national mall. You know, all these monuments and stuff.

So they try their best, in these United Nations situations to mitigate and prevent the destruction from happening. But like I said, unfortunately, they don't have the manpower to completely secure these areas, when there's that many rioters in the area. And this is the unfortunate consequences of the George Floyd -- post-George Floyd world.

They're not really allowed to, because the -- the police command and the general, you know, higher level in terms of politicians. Their approach is now, well, the police had to de-escalate. And what that is fancy for. The police have to leave the area. And not engage. And let people do what they want.

That's basically what they're told to do. But obviously, when they're able to take action, they -- they will try their best to do that.

GLENN: So can you compare this -- I mean, you weren't at January 6th. But can you compare the tone of the crowd, and the things that were happening at all.

Did it at all resemble January 6th?

JULIO: Actually, I did -- January 6th. I was there that day, and I made it.

GLENN: Oh, I'm sorry. I didn't know that.

JULIO: No, no, no. It's all good. It was quite the day. But, no, so I can kind of compare the two.

So, obviously, the big difference between January 6th and July 24th -- J24, is that the authorities were actually prepared this time.

They brought in police from New York. They brought in police from Maryland. They brought in extra law enforcement. They actually secured the perimeter of the Capitol of the complex.

Which didn't happen January 6th. And I have always maintained that, yes. It was a riot. But it was the most preventable riot of that season.

You know, political violence is something that we have been experiencing for months. Prior to January 6th.

And so I don't know why -- so I -- it is my belief, that they allowed it to happen. By not adequately preparing for it.

So that's why, yesterday, you know, J20 tower. They didn't get close to the Capitol building. They tried. And that's why, within the first five minutes of the march.

They tried to push their way through a police line. That's why the police had to pepper spray, to get them to stop.

But, again, the rhetoric is openly praising terrorist groups. And making it known by defacing monuments.

I mean, that is -- that is something that has been happening for a long time.

I've actually been telling Congress, that they need to take this seriously.

And as typical of DC. They don't really start to get going, until it happens in their backyard. There are things happening now.

Okay. We should probably focus on the street protesters. There's a lot of focus on the college campuses. I'm not saying that is not important. But the street protests have been happening since October 8th of last year. And they have caused massive amounts of damage, a lot of violence.

And that's something that needs to be looked at, at the federal level.

So this was obviously not nearly as bad in terms of the Capitol building being breached. Because that didn't happen.

But again, that know didn't happen pause they actually prepared for it.

It's sad. If there will be a major protest. We have to wall up the White House.

We have to wall up the Capitol building. Or wall up the Supreme Court.

And nine times out of ten. It's because of the far left.

GLENN: Are you going to share the pictures of the cleanup, that you took this morning? have you shared them already? Or have I been misinformed? I understood that you were there taking pictures this morning of the cleanup or maybe not.

JULIO: No, I -- my flight was early this morning. So unfortunately, I wasn't able to do that. Sorry about that.

GLENN: Oh, yeah.

I hear that they were out scrubbing the monuments and cleaning up, you know, all the aftermath. Did anybody go to jail?

JULIO: So I was told by park police, that at least ten people were -- were arrested. And that was sort of the instruction of government proper. For defacing. And resisting arrest. Fighting.

But true to the area. A lot of them were quickly released.

That the -- the Palestinian groups were posting videos, showing their, quote, unquote, comrades, being released within -- within hours.

So that's another reason why the police are reluctant to go out of their way to put themselves into harm's way. They do know, even if they do arrest people, for not minor offenses, in these liberal jurisdictions. The rest of these -- it's just going to let that go.

GLENN: Julio, thank you so much.

Julio Rosas. You can find his personal Substack MostlyPeaceful.live. This was mostly peaceful, yesterday, I'm sure it was.

And you could also find his reports at -- on Blaze media and TheBlaze.com. Thanks, Julio, I appreciate it.

JULIO: Yeah. Thank you for having me.

A Complete Sellout?! Harley Davidson's Woke Agenda EXPOSED

Harley Davidson is seen as an all-American company. But recently, filmmaker Robby Starbuck exposed Harley Davidson's internal commitment to woke DEI initiatives. Starbuck reviews what he found: holding "explicitly racist" anti-white trainings, funding "all ages" Pride events with questionable activities, donating to extremely progressive groups ... "This is a complete sellout of common sense," Glenn says. So, why would Harley Davidson go woke? And will the company reverse course with enough customer backlash?

Transcript

Below is a rush transcript that may contain errors

GLENN: So I don't know if you know the name Robby Starbuck. He's a filmmaker. And I know Matt Walsh. Rightfully gets a lot of credit for, you know, exposing the pediatric transgender clinic in Nashville. But it was actually Robby and his wife, that actually exposed that. And Matt picked it up and ran with it, and changed a lot of things. He has been exposing those companies, that are all in on DEI and LGBTQ and everything else. He's exposed John Deere. Gosh, what are the other companies that he's done?

Big ones. I mean, Bud Light did one commercial with a transgender person. And they were almost destroyed.

He now has exposed Harley-Davidson. I just want to go over what Harley-Davidson is doing. Harley-Davidson is, as you know, one of the most beloved American brands out there.

Harley and Indian, to me, are more American than -- than Chevy and Ford. I mean, these are true American brands.

And what he found is a complete sellout of, I think, their customers. And a complete sellout to -- of common sense.

He just -- they just sold common sense out. It's gone at Harley-Davidson. Robby is with us now, to explain exactly what he found, and what we can do about it.

Robby, how are you?

ROBBY: I'm doing well, thanks for having me, Glenn.

GLENN: You bet. And thanks for all your hard work on this. You've done some amazing things. So expose Harley-Davidson.

What did you find at Harley-Davidson?

ROBBY: Well, you know, it's pretty incredible. When somebody came to me first with Harley being one of these little companies after we went through Tractor Supply and John Deere, I didn't believe it. I kind of had a hard time believing it. Because the Harley brand is like this macho brand, and, you know. Everybody knows somebody who has a Harley.

And it's so diametrically opposed to who they are. So we kind of pulled the thread. And as we looked into it, you know, lo and behold, in these stainability reports, which usually reveal a lot about the company.

We found that they had put 1800 employees through these woke trainings, including one group of employees, specifically white males.

They sent to a white male only diversity training. And if you look at the company that does this, it's not like, trust me. It's not a favorable training.

You get the worst training. You get the one that white people bad. You know, white men have a specific, you know, place to have to behave a certain way.

It's explicitly racist in my opinion. When you go further down the line, they have a plan to what they call diversify.

Their supply chain. Which is really just corporate speak for we want less white people. And you think about that -- just the idea is just so far and away from what the American dream is. It should be about merit. And who are the best suppliers. Who is providing the best stuff?

How do you do all this? So if you force diversity in your supply chain, what's going to happen to safety, what is going to happen to all these other things? Because you have this benchmark that you want to reach. And so all these arbitrary benchmarks pop up. But then there's also the pride stuff. They're funding events. They fund one pride event that was considered, quote, all ages. Where it was described as a rage room, in the marketing materials, for people who need to let off steam.

And that's right across the area where drag queens interact with kids, for story time.

And they play catch with Dad area for anybody who had daddy issues. And I'm not joking. That's actually, those were the three things that were next to each other.

Okay? That's a sponsorship for events like that. It is so diametrically opposed to the values of Harley riders. And they're also a founding member, a platinum founding member of the Wisconsin, LGBTQ plus Chamber of Commerce.

Which, I would question, why does there even need to be a Chamber of Commerce, for what type of -- you know, I think that's pretty weird.

GLENN: I know. It's very weird. It's very weird. They also make February, March -- they also made February, March, months of inclusion.

Because we need three months? Not just Pride Month?

I mean, the money they have donated now to the United Way, promoting, you know, Antiracist Baby. You know, the Ibrahim Kennedy thing. They have a Pride ride.

Let's see. They have events at their corporate offices. Their legal department has -- has -- is being celebrated for its racial equity and literacy challenges. I mean, it goes on and on and on.

ROBBY: That is insane, by the way. Yeah. That permeates the legal industry. Just so people know. That 21-day training is something that is happening, you know, pretty much throughout most of legal America, if we could call them that.

And it's one of the craziest trainings out of them. They're right up there with the United Way 21-day -- they have the 21-day equity challenge United for Equity, is what they call it.

It's some of the most explicit, Marxist training programs you could possibly have, pushing, you know, the landmarks to disorganization, to you know, reparations. And people like, you know, Ibrahim Kennedy and Robin DiAngelo.

You have the whole list of these left activists, for not just the Democratic Party. But kind of for modern day communism. That's what they're pushing through.

GLENN: So Harley-Davidson is -- and a macho guy's bike. Always been. An American bike.

And I don't see a lot of transgender business going Harley-Davidson's way. What -- I mean, I know one of my close friends, that I work with, owns a Harley.

And he said, everybody in my bike club, is just -- their eyes are bleeding. They're so crazy about this. Because they just feel Harley-Davidson has betrayed them.

What are -- what is Harley-Davidson's reply?

ROBBY: So there's no response yet. But, you know, I would caution that in the case of Tractor Supply, it took three weeks of us continuing with the story and not letting it go. Releasing little bits of information every day, for them to relent and turn back on everything. In the case of John Deere, it took a week for them to backtrack on a good portion of the stuff that we had -- in Harley's case, I don't know if they can wait a week. They have Sturgis Rally, which if people don't know, it's a big biker rally that happens August 2nd.

And Harley has a booth there. I don't think -- and they have an event there, actually, too. I don't think that they want to talk to all these bikers out there, about this program and all of these donations. And what they've allowed corporate offices and everything. I think they would probably like to clean this up before then.

That would be my guess. If they don't, they are dumber than I thought they were. I think they're doing this to please a certain element within the sort of financial world that's pushing these DEI scores and everything.

GLENN: Uh-huh.

ROBBY: And it's not just -- as much as I would like to say it's BlackRock pushing this stuff. Because I have my issues with BlackRock and with Vanguard and State Street. On more insidious things, the real poison is -- you know, the woke mind virus is a virus. It's carried by somebody.

And it's carried by the HR people who have come out of these colleges, totally indoctrinated into leftism. And so their job when they get inside there is, okay. Spread the virus through the whole network.

And so they'll use societal down points. Societal pressure points. Like what happened with George Floyd. As a way to put pressure on the higher ups to say, hey. We need to do this. To respond effectively. We need to show our employees that we care.

So the higher ups, in many cases, they just relent because they don't want to look racist. They don't want to look bigoted. At least that's how it used to be.

Now, a lot of those executives are looking for a way out. We have had executives reach out to us, and beg us to go after their companies in the future.

Because they want an excuse to get rid of DEI, which I think it's still cowardly.

Because it's still going backwards. We have companies we really need to go after.

We have now, at this point. Since we started this against Tractor Supply, over a thousand whistle-blowers.

So we are just trying to scale up the operation to work with all these people and go through all the documents and evidence that has been handed over to us, so that we can look at, you know, how have these great corporate American brands betrayed their customers and the values, especially the ones that depend on conservative America?

Because if we can't save them, then we can't save our country.

GLENN: So, Robby, I really believe all of this started, because of Occupy Wall Street.

You know, when you look at -- it was -- they were -- they were, you know, camping right in front of all of the big financial firms.

All of the banks. All of, you know, Wall Street. And corporate.

And then all of a sudden, it just kind of stopped and went away. And I -- I am absolutely convinced that a deal was struck at that point. Don't come after us. We'll help you.

And it was right around that time, that all of this money, from these financial firms, and from corporations, started to go these radicalized groups. For the first time.

And I think this was a deal cut, by the banks and by the giant corporations, just stick it on the American people. We'll be your ally.

We'll help pay for it. And now they're destroying their own businesses.

ROBBY: You know, Glenn, there could be an element of that. And I wouldn't doubt it in the slightest. I almost think it's even more insidious that be that. Because the long march to the institutions. Corporations are not exempt from that. And there's been an element of these -- you know, folks that I would say, are really, really, deeply committed to Marxism. Who they have embedded themselves in every segment of the American life.

GLENN: Yes. Yes.

ROBBY: And I think they've done a much better job at it, than we have as conservatives, protecting our country. And that's really on -- you know, we could go on and on about who is at fault for that. But honestly, it doesn't matter. The people who are here now, like you and me and others, we need to be -- we need to be the line. You know, we're the line that says, okay. We're pushing back.

We're not just defending. We're going on offense. And that's what we're doing here. It's like, we have to go on offense, and take back some of these institutions. And that will help through election. It will help through getting Trump into office. It will happen a lot of different ways.

But you have to go through each one of these institutions.

I'm more concerned about this people embedded inside. How do you get rid of those people? The people who -- even if you beat back DEI, if you don't get the whole department fired, are going to reinvent it in some other name. You know, that's the real virus at this point. It's like, how do you get that out of the company?

GLENN: Robby, I'm big fan of what you do and your wife. Make sure you say hi to her for us.

Please let us know. We'll continue to watch. But please let us know how you can help.
Thank you for exposing it.
ROBBY: Appreciate it.
GLENN: You bet. Buh-bye.

Robby Starbuck. You can follow him on Twitter, and follow the story.

It is -- this one was a big one.

John Deere was bad. Tractor supply was worse. This one is crazy bad.