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Why Biden’s executive order on crypto is this week’s BIGGEST STORY

For Glenn the biggest story of the week is also the least talked about one: Joe Biden’s recent executive order on cryptocurrency. In this clip, Glenn explains how the Biden administration is targeting crypto, what’s to come from the contents of that executive order, how it likely will be used to further government's control over YOUR finances, and why he believes an entirely new currency — in the form of a digital dollar — may arrive by JANUARY.

Transcript

Below is a rush transcript that may contain errors

GLENN: I want to get to the biggest stories of the week. For me, the biggest story of the week is probably the least talked about story.

It is Joe Biden's executive order on cryptocurrency.

It is -- it is an amazing executive order, you should read it.

We must take strong steps, to reduce the risks that digital assets could pose to climate change and pollution.

Climate change and pollution. Yeah. I mean, there's a big list. But that's -- that's on that list.

Climate change and pollution. Apparently. Apparently. Not only were we worried about dark money. I love that Joe Biden worried about dark money. Not only are we worried about dark money. People doing things that they shouldn't. And not paying their taxes. Because they deal in bitcoin. We're also worried about the energy that it takes, to have a decentralized currency.

And so Section 5 of the executive order, measures to protect consumers, investors, and businesses, includes a subsection, telling the director of the White House Office of Science and technology policy, to lead work on an interagency work, examining climate and energy concerns around cryptocurrency.

Now, here's what's great. I -- you know, who doesn't know the head of the White House Office of Science and technology policy, right?

I mean, we all say -- say it with me. It's Alondra --

STU: Alondra Nelson. Oh, yeah. Oh, go to work.

GLENN: And we all know it. We all know it. You know, she is a social science professor.

STU: Hmm.

GLENN: From Columbia. The institute of advanced studies. With a doctorate in American studies.

And she also, and this is such a crazy coincidence.

She is also a member of the World Economic Forum network.

STU: That's great!

GLENN: Isn't that great? So she's connected to all those people that trust each other.

STU: That's good to hear.

GLENN: So her office is to put together a group, to consider the potential for these technologies to impede or advance efforts to tackle climate change. At home. And abroad. And the effect of cryptocurrency's consensus mechanisms on energy usage.

Now, here's the thing: The problem with cryptocurrency. Is, well, data mining. The mining for the bitcoin is just -- I mean, it's taking so much energy.

By the way, there will be no more mining after 2030. So good luck on making that case.

But because it's decentralized, it requires so much power to be able to verify. Does this person have these funds?

Is this person really where it's supposed to go. All the verifications that have to happen. All over the world, because it's decentralized. A lot of power.

STU: Yeah. First of all, not when you compare it to other financial systems. Which is what this is.

How much does gold mining cost the environment?

How much does precious metal mining overall?

How much does the global financial system and banking?

GLENN: You know what, I have to tell you, I'm surprised we don't have rolling brownouts on the East Coast, just to keep the printing presses going at the Treasury.

STU: Exactly. And then, of course, we should also point out, that these environmental -- environmental concerns are nonsense.

They're -- it's ridiculous.

GLENN: Oh, how dare you say that. I won't be able to say that in six months. I'll tell you that right now. Literally.

The -- the executive order also instructs the Secretary of Treasury Janet Yellen to lead the development of report, on the future of money and payment systems. It requests a report from the chairman of the Federal Reserve. Addressing whether a central bank digital currency could make the monetary system, more efficient.

Oh, I bet. And could be used as a critical stabilization tool.

Yes! Now in the end, do you understand. This is something the empire must have, to stabilize our currency.

To stabilize it. We've got bad inflation coming out. Oh, my gosh, I just said that. That's weird. Because that's not what the White House has been saying. Now they're saying, it's really bad inflation. Wow. And you know what will cure that?

Modern monetary theory. Yeah, but we'll never do -- no, wait. We're doing the first part of that.

Printing all the money. Just sending money out the door. Yeah. But that's causing inflation. But you know what would fix that?

A digital currency.

Wow. So it really is a critical stabilization tool.

Yeah. And it will save energy, because it will be on a central computer, with a password.

So you got that coming for you.

You know, the only thing doesn't have in it, is maybe a chip, that we put into our forehead, or our hand.

Other than that, it's great. This is a way to completely control absolutely every human being on earth.

And it is come. And I think -- I think there's a chance, it comes before the election. But I do believe, it will come before Congress, is reseated, if they should lose Congress.

They have a -- they have this idea. You know what, I'm putting this executive order. We should study it. They've already studied it.

Go to Treasury.gov. Go to the Federal Reserve. Read the white papers. They're already doing work with MIT, on what's called the Hamilton project.

By the way, Hamilton, great musical.

Also, an evil SOB, that wanted a central bank, and all of the other Founders were like, no. I think that's a bad idea. So the Hamilton Project.

Look it up. The Boston fed. And MIT. They're not doing a study. They're not doing a study. This is just to prepare the ground.

Till the soil.

Wow, we're thinking about high inflation. And what could stabilize that?

Well, the fed has been out of bullets for a while.

You know what would stabilize that?

One bank, the Federal Reserve, and we could open up accounts, at the Federal Reserve. And we'll put money -- free money. Gosh. That -- that would be really helpful, especially when food prices are out of control.

And -- and jobs are hard to get. And you can't buy any fricking fertilizer. That's -- you know what, that would be so helpful. People will need that extra money. We'll just put it there in the fed bank. And you can come and claim it. And then move all your regular currency. And we'll give you, maybe 60 cents on a dollar, this month. And if you don't do it. Then, you know, a couple of months later, you'll only get 40 cents on the dollar. That's assuming, it's not redistributing wealth, which Janet Yellen in a white paper, on the Treasury says, that's what's going to happen. So if you're white and rich, you'll get less than 60 cents. But if you're a hermaphrodite, with a leg growing out of your eye. You're in a special class. You might get 1.25 for every dollar you have. But I digress. It is so fantastic. And that is the story of the week.

Okay. Hi, Stu.

STU: Hi.

GLENN: How about we change the subject and go to Poland?

STU: So you'll go from really bad news, to really bad news?

GLENN: No. This is great news.

STU: Okay. We sent -- to meet with Poland, okay?

The ally we're hoping is going to stand up and say, you know, if Russia starts to make a move, we're going to fight him in the streets. Uh-huh. Uh-huh. We sent over Kamala Harris.

STU: Hmm.

GLENN: Let me just give you one of the super, super highlights here.

She was asked about the refugee problem.

And you know how tragic that is. Especially if you're over in Poland. Not a laughing matter. And she knows it. Here it is.

VOICE: Is the United States willing to make a specific allocation for Ukrainian refugees? And for President Duda, I wanted to know if you think and if you asked the United States to specifically accept more refugees.

GLENN: President looks at her.

KAMALA: A friend in need is a friend indeed.
(laughter)

GLENN: I don't know how to answer.

Okay. So this is not going well. This is not going over well.

People -- yeah. People didn't think that was very respectful, when you're talking about refugees, and people dying. That she clearly didn't have an answer. So she just laughs. You go first.

You know, a friend in need is a friend indeed?

STU: What does that even -- how does that apply?

GLENN: That means, I need you. I need you.

You be my friend. Be my friend. You about it first.

STU: So --

GLENN: Either that, or it's -- either that, or it's some sort of weird, hey, we're going to be your friend.

You're in need. We're going to be a friend indeed. Refugees.

I don't know.

STU: I feel like she has multiple conversations going on in her head. Like, there's a totally different reality there. And she's responding to things that no one else sees.

I don't even know -- thank you, Kamala.

GLENN: This is. You know what, if I may. If I may.

I think this is appropriate.

Now, some may think, Glenn, that's not commercial. You shouldn't do that. But I think we're in desperate times. So if I may. Dear Lord, please.

STU: I don't.

GLENN: Please protect Joe Biden.

I know. I know. I know.

Please, he's old. He's sickly, he's losing his mind. You know that better than I do.

But please, Lord. Even if he's a dictator for 100 years passed. Keep him alive.

STU: I don't know.

GLENN: So we don't have to have Kamala Harris as our president.
(laughter)
Amen. There.

STU: It's hard not to feel that way.

GLENN: Hard not to feel that way?

I question you as a human, if you don't feel that way.

STU: But, I mean, you can't -- how much better is Biden.

It's not like he's doing a good job in comparison. Of course, we want him --

GLENN: Can you imagine her as --

STU: I don't think either one is a good choice.

GLENN: Okay. She's up on Air Force One. DEFCON one.

She's got to turn the key, okay?

And they say, Mr. President, turn your key.

Will you give approval to this? And she goes.
(laughter)
I didn't. Looking around. Good heavens. I mean, at least Joe Biden -- at that point, something that critical, would have the wherewithal to go.

STU: I disagree. I think he would probably drool on the nuclear football and disarm it.

GLENN: Wow, are we screwed!

STU: Yes. We are screwed.

GLENN: Hey. Aren't you glad we're back to normalcy?

Seriously, I'm so proud of everybody, who looked at those two candidates, and went, that guy tweets a lot. And I don't like the way he talks. I don't like it. I don't like it.

Sure, things seem to be going very well. But I don't like his Twitter behavior.

These guys are employing to bring back things normal times. They're going to restore sanity. Thank you for that.

My children and my children's children thank you for that.

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RADIO

Meet the pro-Intifada candidate NYC Democrats just elected

New York City Democrats just elected 33-year-old Zohran Mamdani, a "socialist Muslim", as the Party's candidate for mayor. But Glenn Beck argues that his radical beliefs are actually communist and Islamist.

Transcript

Below is a rush transcript that may contain errors

VOICE: Z10852. Something weird is going on. The World Trade Center is on fire.

VOICE: Seriously the top of the building. We're trying to get information.

VOICE: Top level of one of the --

VOICE: To unfold from New York City.

VOICE: A plane crashed just --

VOICE: My sister is in that believe. I hope she's okay. I have to come to New York.

VOICE: It's pandemonium.

VOICE: It's raining papers.

VOICE: Wait a minute! Stop just a second. Why are we -- why are we -- I've got breaking news. Breaking news, yesterday. New York City just elected as their mayoral candidate for the left. And the Democrats, a -- a Muslim radical, who is also a communist!

So, you know, it only took you 25 years. It only took you 25 years, New York, to go completely insane.

Somebody who is -- well, I mean, if I might quote Michael malice today. I am old enough to remember when New Yorkers endured 9/11 instead of voting for it.

But you've got a -- you've got a communist jihadist apologist now.

Who was -- you know, well, CAIR put $100,000 behind his bid for New York City mayor.

So you have somebody who is endorsed by CAIR. That's really good.

He also was somebody who said, you know, he was -- he was for the shooting of the United Health Care CEO.

Said he was looking forward to driving down magnum Joan avenue. I don't know. Sounds like supporting people in the streets. Maybe it's just me.

Then he also said that he was going to globalize the intifada, which I think that's -- maybe -- maybe that's just me.

I mean, what do I know?

Tim Miller who is a podcaster. Asked him a few weeks ago. Asked him about his pro Palestinian slogan. Globalized the intifada. And he said, for me, ultimately, what I hear in so many, is a desperate desire for equality and equal rights, in standing up for Palistinian human rights. Oh, is that what you hear, Mr. CAIR?

Really? Huh, that's interesting.

Right. So globalize the intifada.

I mean, I mean, sure, that's -- I mean well, let me go on.

Because I don't want to take him out of context.

He then delved into the semantics of the intifada, citing the United States Holocaust memorial museum's use of a word for a translation for uprising, in an Arabic version of an article, a museum published about the Warsaw ghetto.

Oh!

So this is just a comparison, about the -- the armed rebellion against the Nazis!

I don't know if that makes me feel better!

I mean, if we're globalizing that.

We're the Nazis in this scenario.

Because I don't think it's the Palestinians.

I certainly don't think it's anybody who is like, hey.

Global jihad. I don't think it's those guys.

Or the Nazis. Who are the Nazis in that?

And it seems, if that's what you mean, then it's not just a harmless kind of slogan about human rights. It is a call for violence on the streets.

Because I don't know if you know, that's what happened when the Jews had their uprising against the Nazis.

I'm just saying!

But, hey, hey, free Palestine.

Oh, that's not what that means, gang. That is not what that means, but don't worry about it. He's just going to be possibly the new mayor.

And that's great. By the way, the Columbia faculty members signed a letter defending Hamas.

They were also among the donors to his mayoral campaign.

So, you know, you don't have anything to worry about.

And his father, who used to work at Columbia. Do you know, Stu?

Is his Dad -- is he still a professor at Columbia University?

He said that -- this violent terror thing of Islam, is not a part of Islam. Now, I've read the Koran, and much of the hadith.

And I'm pretty sure the violence is a part of that. But no.

No. This is something entirely new.

And his father while at Columbia university, wanted everybody to know, that this is actually -- this is something that came out of America!

America is really responsible for this.

And, you know, it really started with the Reagan administration, you know, when he started -- when he started with his very religious terms, to finish the war against the evil empire.

So, you know, that's where -- that's where 9/11 came from.

Is what -- don't worry about it! Don't worry about it!

Because who am I? I'm clearly just -- am I an anti-Semite today, or am I an Islamophobic? I can't remember which one.

Oh, it's probably both. Anyway, Islamophobia. Let me just explain Islamophobia. I haven't even gotten to the Communist part of it. Which is really, really -- New York, you're in one for hell of a ride. Buckle up.

It will be a fun rollercoaster for you. My gosh, I've never been happier that I've been away are if New York.

Anyway, I just want I to know, there is Islam. And then there is Islamists. Now, an Islamist is somebody who really wants Sharia law.

That's political Islam!

That's not a faith. That's political Islam.

Now, let me make really -- something really clear. Criticizing Islamism, is not Islamophobia. Pointing out the dangers of, oh. I don't know.

Political Islam. The ideology that seeks to use the tools of democracy, ultimately to destroy democracy, is not an attack on Muslims.

No. Uh-uh.

You know why?

Because Muslims are often the first people in line.

The first victims of the ideology.

So let's draw a bright, bright line between Islam as a faith, millions of people can practice that faithfully and peacefully.

It's mostly peaceful, okay?

Then there's the Islamism.

Islamism is something entirely -- that's a political project.

A theocratic political -- oh. Left loves theocracies. They love it.

Of course, you never see a problem with it.

See it when an Islamist is touting it. Anyway, it's not about prayer. It's not about fasting. It's not about spiritual life.

It's all about power. It's about merging of mosque and state. It's about implementing Sharia, not as a personal code of conduct. But as a governing legal system.

And it's -- it's supremacy.

Absolutely. Faith.

Religion.

It's -- there's one thing that's supreme.

It's misogynistic.

Deeply intolerant of all kinds of things.

Descent. Secularism. Other faiths. Even competing interpretations from inside the faith itself.

It will behead them too.

So let's -- let's be honest here for a second.

You know, CAIR should be labeled an international terror organization.

In my opinion. In my opinion.

Oh, does that make me -- that makes me an Islamophobe. I'm sure. I'm sure they will start a campaign against me on being an Islamophobe.

Stand in line, guys. You've been doing it since 2001, okay?

I don't really care. And I don't think the American people. I think that record, all the grooves are worn-out on that one, okay?

This is not a religion we're talking about. When we're talking about Sharia law. And we're talking about globalize the intifada. What does that mean, actually, to globalize it?

Does that mean we now want to do what is happening to Israel? All over the world?

Has the Palestinian plight become our plight you now, as Americans?

That there has to be an intifada here!

Because it's the kind of the same. You know. It's kind of the same over, you know, with what the Palestinians are going through.

Well, it's very much like what the Jews went through with the Nazis.

That's a weird one. That one makes my head hurt. It's very much the same as that. And very much the same as the fight against Donald Trump.

Oh, this is going to be fun. It's fun!

Really fun. You know, the irony here is, the ones that will scream Islamophobia the most, are the ones in the progressive left, the champions of feminism, LGBTQ rights. And secularism.

They're going to -- no. You want -- they're going to stand with the people, who want to kill them first.

See, this is how smart they are!

This is why it's going to work out well, in New York City.

Let me just say. If you have an ounce of common sense, you run a business, you have an ounce of wealth. And I don't mean wealth like, you know, hey, Lovey.

Let's get on the boat for a three-hour tour with a suitcase full of cash. I mean you saved anything, anything, get the hell out of New York City.

I mean, this is about survival. This is about free speech. This is about women's rights.
Religious pluralism. Secular legal systems. Liberal democracy.

But it's also about failed principles of Communism. Okay?

First, you have to call out political Islam for what it is. Okay?

And we have to do it with the clarity that we call out white nationalism.

Got to do it with that. Got to -- you know, the Klan. Really bad people.

Really bad people.

Anybody who is shouting for globalized intifada?

Pretty bad. Pretty bad people.

Okay?

Now, let's get to communism.

Because that's another cool, cool angle of the new Democratic candidate for -- for mayor of New York City.

That I just -- I think is cuddly and cute. Sure, it led to 100 million deaths. But this time, New York is going to be radically different. Oh, did I use the word radical?

I didn't mean to use that. What's radical about this guy?

Nothing. He's just like you!

Well, not exactly.

But let's talk about communism, next!

Now, the new mayoral candidate that's running there in New York City. That so many young people rushed to defend and vote for. He's promising free buses.

That's going to work out.

Where are you going to get the money for free buses.

It's free!

City-run grocery stores.

Oh, rent freezes. And finally somebody has done it. A 30-dollar minimum wage.

So under the banner of equity. And, you know, we will tax the wealthy. And the corporations. You know, we're going to squeeze another $10 billion out of them.

Really?

Because they're going to call a U-Haul.

You know, they will call something like U-Haul. There will be a lot of -- there will be a lot of movers that are like, how do I get the truck back from Texas or Florida back up to New York? Nobody is moving up there.

But he's going to do it.

Now, his vision isn't really new. You know, just -- just tax people, so we could have city-run grocery stores. You know, I remember -- I'm old enough to remember those city-run grocery stores in Moscow.

They were great.

The shelves were empty.

But that's just Moscow.

It worked out completely different in Venezuela.

Where, oh, no.

It didn't. That's right. The grocery store.

They were eating the zoo animals.

But it will be different in New York.

Because they have rent controls too.

And that will just choke the housing supply, but don't worry. As a young family.

You know, you voted for it.

You know better.

It will work this time.

So, you know, I like building ideas, I just don't like usually building on the graves of 100 million people.

But, you know, why not? Why not?

You know, use this dogma.

And this time, it will be different. It's not like it was in China. Where the great leap forward, was a gross -- a gross parody of progress. Venezuela, which was oil rich. One of the richest nations in the hemisphere now sees 90 percent of its population in poverty!

Yeah. Darn it. You know what they did?

They decided to take state control of things.

You know, like grocery stores. And it worked out well. How is that free busing working out in Venezuela?

I just want to -- I just want to know.

Anyway, then you've got the globalize the intifada. Which is going to drop a little violence in, and anti-Semitism in with your communism.

Which is weird!

Because violence and anti-Semitism, always happen. When it -- when it comes to -- when it comes to communism.

This is weird!

I've got to play something for you. Because this has talked about on me earlier this morning.

Oh, wow.

Wait a minute. This is -- this is the whole coalition coming together here.

So this is going to be good. New York, this is going to be great.

It's going to be great for you.

No. He's going to uplift you. Then the social fabric of New York City is just going to be -- just one.

It's going to be fantastic. Don't worry about your 120 billion dollars in debt. Or your 10 billion-dollar deficit that you have right now.

You are going to charge the rich more taxes, and they will stay right there.

They will be like, you know what, that 46 percent in taxes that I'm paying, this is just not enough. It's just not enough.

I need to pay 60 or 70 percent to be able to pay my fair share. So that's good. That's good. That's good.

You know, they're not risking 100 million people. It's just 8 million people.

This time, it's just 8 million people.

But, hey. For those of you in upstate New York. That aren't going to be part of this experiment.

Don't worry, you get to pay for it. Because they'll kick it up to the state. The state will have to subsidize everything. And don't you love it?

Really, don't you want to subsidize the really crazy ideas of New York City?

I mean, why don't you have a -- why don't you have a democratic socialist. A/k/a communist mayor.

Why haven't you done that? Are you not progressive enough? Are you not looking into the future?

Are you stuck in the past?

I don't know. I don't know. The graveyard is pretty big. I have a hard time getting past that one. You know, yeah, so I'm stuck in the past. Because I can't seem to pass that graveyard, and get to be down the path with you. But it's going to be a paradise.

Forget arithmetic. You know, or human nature. This time, it's going to work. It's going to work. So all right!

Wish I lived in this morning.

No wait. Nope. I don't. Nope, I don't.

And Ted Cruz, stop it. Stop writing, hey, come to Texas. No. No. Don't come to Texas. Don't come to Florida. Go to California. It's beautiful this time of year. Go there. Go there.