Glenn Beck Program, March 2, 2011

The Perfect Storm

All the forces that want to take down America, the Western way of life and capitalism acting simultaneously.

            Border – Debt – Trust – Energy - War/Terrorism

                        Political Correctness - Islamic Extremism

                        Financial Problems – Enemies within

All the above is happening at once.  Glenn feels that the combination of these problems is even greater than the Civil War.

Financial Terrorism

The following article is not getting much attention. 

• The Washington Times article “Financial terrorism suspected in 2008 economic crash”
•  (http://www.washingtontimes.com/news/2011/feb/28/financial-terrorism-suspected-in-08-economic-crash/ ). 
• The article is based on a report from the Pentagon that took six months to complete. 
• The report originally came out in 2009.
• Conclusions of the report include…
• Terrorists and financial enemies are responsible for the 2008 collapse.
• The attack is a three-phase attack - phases one and two are complete.
• Phase three may be underway.
• Suspects could be Islamic terrorists, China or Russia.
• Glenn discussed Osama Bin Laden and his history with the Soviet Union.  Osama believes that he destroyed the Soviet Union.  Also, that Osama thinks that he may be able to do the same with the U.S.  That is the reason he chose the World Trade Center to attack.

Report Phase 1

• Use oil as a way to raise money.
• Glenn showed videos of various public officials blaming the 2008 oil price increases on oil “speculators”.
• That was followed by a quote from George Soros on oil speculation from that period…

“Speculation…is increasingly affecting the price…The price has this parabolic shape which is characteristic of bubbles…”

·        Glenn then showed a graph of oil prices versus housing prices where as oil went up, housing prices went down.

Report Phase 2

·        Bear raids on the market.  Untraceable investors attacking the financial infrastructure to force down stock prices via rumors and intricate financial maneuvers.  The report’s author says…

“This produced a complete collapse in credit availability and almost started a global depression…”

·        Glenn then referenced a New York Times article “Bear Stearns meltdown, or was it murder?”.  He noted that, at the time of the emergency, Bear Stearns had $18 billion in cash.

·        CSPAN interviewed on Jan 27, 2009, Congressman Jaworski. 

o       The Congressman was saying that $5.5 trillion would have been pulled out of the American financial system by that afternoon which would have collapsed the U.S. system. 

o       Within 24 hours after that, the world economy would have collapsed.

·        Glenn then showed a 2009 video of Tom Quadman of the Chamber of Commerce saying…

“We saw the first electronic run on financial institutions.”

Report Phase 3

• Collapse the dollar – Bankrupt the Treasury.
• The report’s author says…

“This is the end game if the goal is to destroy America.”

The DoD just now released this report because, they said, the report needed to be seen.  Glenn feels someone in the Pentagon is “sending up a flare” to release this report because he feels you need to see it.

Who Will Buy?

Glenn showed a quote from Ben Bernanke about raising the debt ceiling.  Then he showed a graph from an article from the Business Insider, “Who will buy treasuries when the Fed stops?”

The chart reads*…

            Buyer                           Then                 Now

            Fed                              10%                 70%

Other U.S. Buyers        40%                   0%

Foreign Buyers             50%                 30%

(*Source – the Federal Reserve)

Glenn then discussed what would happen if the Fed stops buying our treasuries, or if they even could stop.  Who would pick up the slack?  Would foreign buyers suspect something wrong and dump their holdings?  What if the report is right and a country is behind this financial manipulation?  This is a perfect cover for a sovereign fund dump?

Dollar’s Demise As Reserve Currency

Russia, China, the IMF and the U.N. are all now advocating for another reserve currency to replace the dollar.

Glenn then showed the headline of a Wall Street Journal article “Why Dollar’s Reign is Near an End”.

What Didn’t Happen and What to do About it

Glenn then discussed his background on this show and, at the beginning, he felt that if he did his research and backed his opinions up with facts, other news organizations would become curious and do their own research and stories.  That didn’t happen.

If this does lead to a meltdown, you are going to have to decide how to deal with it and how best to prepare because it doesn’t look like anyone else is going to do it for you.

Gas Prices

• Gas prices have gone up more than 20 cents per gallon in the last eight days.  The national average is now $3.38 per gallon.
• Libya is getting worse.
• Saudi Arabia has sent armored vehicles into Bahrain.
• They arrested a cleric today.
• Oil is up to $102 per barrel today.

Where the Media Goes Wrong

• Glenn feels that the media looks at events in a disconnected fashion. 
• For instance, he suggested taking Wikileaks material and combining it with information coming out from the countries mentioned to show a larger picture.
• He had a chalkboard with magnetic cards identifying five different countries.
• Egypt – Wikileaks leaked cables embarrassing to Mubarak.  Two months later, rioting started.
• Tunisia – Nov 30^th, 2010, cables were leaked exposing corruption in the ruling family.  Tunisia flipped January 14^th.
• Yemen – Cables leaked showing America’s involvement in the country.  Currently having demonstrations there.
• Libya – Cables showed billions of dollars in U.S. banks.  Libya is now on fire.
• Saudi Arabia – On Monday, a leaked cable discussed the schemes used by the Royal family used to support their lavish lifestyles.
• The pattern is that it takes some amount of time for the leaked information to go viral in the country and that is when the unrest starts.
• He showed a map of the region with countries having problems indicated.  Glenn says that if Saudi Arabia falls, that means $200 per barrel oil and $10 per gallon gasoline prices.  Effectively, this means the end of the Western way of life.
• What really worries him is what happens to our troops?  How would they get out?

Copper

Copper prices are going down.  Why?  Copper is used in home building and the price fell in February.

Food

Glenn suggests food as an investment in these troubling times.

Summer Jobs

Various organizations are joining with Grassroots Campaigns to create summer jobs for students.  The objective is “To fight far-right extremism and advance progressive causes.”  Clients of Grassroots Campaigns include…

• MoveOn.org (George Soros)
• DNC (Democrat National Committee)
• League of Conservation Voters
• DCCC
• ACLU
• Working America (AFL-CIO)
• Amnesty International
• Center for American Progress (George Soros)
• Planned Parenthood
• Save the Children

The American Dream

Eric Holder now says he is not going to pursue the Planed Parenthood expose.  That expose had several videos of Planned Parenthood employees assisting pimps with underage girls to successfully set up a prostitution operation.  He is also not enforcing the law of the land with the Defense of Marriage Act.  And, he is not pursuing the Black Panther voter intimidation case.

To answer the question of what is the American dream, that dream is “Can Man rule himself?”  With these announcements, the Department of Justice and this administration is saying that Man cannot rule himself.  To do that would require equal justice, not social justice.  And, it would require equal treatment before the law.

Socialism Taught in Schools

School children are being taught tenants of socialism in schools via the textbook “Building Fluency Through Practice and Performance”.  In the textbook, portions of the constitution are presented with additional material usually associated with socialist/progressive themes.  Glenn suggested an assignment for parents to have them check if that textbook is used in their local school and, if so, have it removed.

Threats

• Glenn discussed Louis Farrakhan and cautioned that he not be dismissed because he had a lot of influence.  His last address was given before 18,000 very supportive American followers.  In that address, Farrakhan is saying that violence is coming very, very soon to America.  The media is silent on Mr. Farrakhan.
• Youssef Al-Qaradawi – he is the cleric that started the Mohamed cartoon riots.  He is calling for “Kill the Jewish Zionists, every last one of them.”
• Hezbollah is now partnering with drug cartels on our southern border.  Still no coverage of that from the media.
• Secretary Hillary Clinton says we are losing the war of ideas to the extremists and calls for more public media, as the private media is just not up to the job.