New York Times Reporting
- Glenn held up a copy of today’s New York Times and said they didn’t like his program because it was too “apocalyptic”.
- They said it was kind of a bummer.
- He then went on to read headlines from several of their front-page articles that were “bad news” stories.
Glenn feels that the news being reported has an agenda. The truth does not.
- The quake that hit Japan last week was the largest in their history.
- It was a once in a thousand years size quake.
- The earth was tilted in its axis.
- The whole country was shoved closer to the U.S.
- The quake was 1,000 times the force of the one that hit Haiti.
- He showed short videos of the quake and the tsunami.
- Thousands are dead and missing.
- Media reporting of the Japanese disaster has been, at best, a lazy media.
- If you do a search on nuclear meltdown, you will see 10,000 stories and blogs on how Japan could experience a meltdown.
- 30% of Japan’s energy comes from nuclear power plants. In the U.S. it is 20%.
- No mention of being prepared.
- He sketched the design of the Japanese reactor on the chalkboard.
- Then he demonstrated the components using M&Ms and kitchen pots and pans.
- So far, the facility has withstood an earthquake seven times more powerful than it was designed for.
- People within a 12-mile radius have been moved out. About 210,000 people.
Bond Market Meltdown
- The bond market is about to meltdown.
- If the bond market melts down, how many people worldwide will die because the U.S. military will not be able to show up? Potentially, this could be many times the number now in Japan.
- Why is the media focusing on the reactor meltdown and not the bond market meltdown?
- The answer is that the media has an agenda.
- Glenn showed a quote from the President of The Plowshares Fund that if the Japanese reactor problem continued, there will be a “complete disaster”.
- The Plowshares Fund was started by George Soros.
- Another person quoted in the article was Robert Alvarez, a member of ISP.
- ISP does work for the Institute for Policy Studies.
- The Institute for policy Studies was started by George Soros and the Tides Foundation.
- The Left, instead of working to help the situation are just making sure a crisis doesn’t go to waste.
- How many died during the 3 Mile Island nuclear problem? – 0
- How many died during the Chernobyl nuclear problem? 4,000
- If the dollar and the bond market collapse, how many millions will starve.
- Doesn’t want…
- They do want…
- Cow farts
Glenn showed the Fabian stained glass window (See Oct 7, 2010 Beck Cliff Notes issue.) In this window, the Fabian socialists are heating the world so their members could pound on it to reshape it to more closely resemble their heart’s desire.
- China and Japan have had their problems.
- Until the advent of the disaster in Japan, China was anti-Japanese.
- Suddenly, they stopped complaining about Japan.
- They are asking what can they learn from the way Japan is handling this emergency.
- Glenn showed pictures from Japan of the people lining up to get aid.
- There is no looting.
- Here, in this country, we see people fighting in Wendy’s and Denny’s. There are protests in Madison, Wisconsin that aren’t peaceful.
- It would have been better to have brought a bit of Japan to Wisconsin, than Cairo.
- Glenn asks that everyone pray for the people in Japan.
The Real Meltdown in Japan
- Debt – “Free Stuff” – Is 226% of the Japanese GDP. Ours is about 100% of our GDP.
- Bonds – Loans to buy “Free Stuff” – Acts like a credit card.
- Inflation – What you can’t do.
- Japan has the largest debt of any country in the world.
- Their debt load is the second largest in the world, after the U.S.
- They are the second largest holder of our Treasury Bonds.
- To recover from this disaster, they will need to spend their money on rebuilding at home, not buy investment bonds from the U.S.
- After the earthquake in Kobe, Japan in 1995, they spend 3.4 trillion yen.
- Today, they just manufactured 15 billion yen and dumped it in the market.
- This meltdown affects the entire world.
- Last week, his program reported that PIMCO, the world’s largest bond fund, dumped all its U.S. treasury bonds.
- The PIMCO fund manager, Bill Growth, was named Fund Manager of the Decade.
- Now, new reports are saying that other funds may follow PIMCO.
- George Soros has previously triggered a run because people listen to him.
- PIMCO is ten times the size of George Soros.
Glenn showed a PIMCO graphic showing two pie charts. The pie charts showed the percentage of people who bought U.S. bonds.
- Foreign Buyers 50% 30%
- The Rest of Us 40% 0%
- The Federal Reserve 10% 70%
There are credible people out there who are seriously looking at inflation as a way out of our financial problems.
He showed a bar graph of various countries and their budget deficits before they experienced Hyperinflation.
Glenn asks “Who will buy our debt?’
Israeli Family Murdered by Terrorists
- Terrorists have murdered an Israeli family.
- The mom, dad, and three of their six children were killed. This includes a three-month-old baby girl.
- After the killing, the Palestinians celebrated by handing out candies.
- There is evil in the world.