Warning: This financial law could destroy your investments



A law was introduced in the '90s that was sold as a way to shore up the financial system. Now, Glenn Beck warns, it could destroy your financial investments.

While the law claimed to help, in reality, it was a way to bail out big financial institutions by allowing them to use your investments as collateral in the event of a financial collapse.

States changed Article 8 of the Uniform Commercial Code, a state law passed in all 50 states. This change meant that investment intermediaries like Merrill Lynch or Fidelity hold your actual stock on behalf of you. The change means that you, the purchaser, don’t actually own your investments. The stock broker or the intermediary does.

Glenn says that it means, “hopefully, nothing.”

“However, if you believe the banking system is weak. If you believe that you could see a major shift with a catastrophic black swan, it could mean you lose everything,” he continues. “It takes the insane ‘you’ll own nothing’ promise to a whole new level.”

The change also allows for stock brokers and other intermediaries holding your investment to use them as collateral in their own financial agreements.

“The reason why this is so dangerous is if the intermediary goes bankrupt, the stock you think you own can be taken by another big financial institution who’s owed money by that bankrupt stock broker, and they’ll take your fund to cover it,” Glenn explains.

While the law could deliver a devastating blow to the average U.S. citizen, there are states fighting back.

“The first state is now fighting back on this, and it’s South Dakota,” Glenn says, but “more help is needed.”


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The Next Domino to Fall in the Unfolding Economic Crisis | Zero Hour | Ep 2

The Next Domino to Fall in the Unfolding Economic Crisis | Zero Hour | Ep 2

BREAKING POINT? How today’s bank crisis is SCARILY similar to 2008



In 2007, 25 banks had to be bailed out — the single largest bank failure in history.

This was a total of $526 billion over the span of 12 months.

Glenn Beck believes we could now be looking at a repeat of what happened during the 2008 financial crisis.

“In the last five weeks, we have had three U.S. banks fail, and we’re already over the 2007 total by $6 billion.”

On top of this, the Federal Reserve is slated to raise interest rates for the tenth time in over 12 months.

“I know nothing about this stuff,” Beck says, “but I know enough to know you cannot continue to raise interest rates or you will break the back of the economy — but they’re doing it anyway.”

Glenn adds that this isn’t the only thing breaking the back of the economy.

“Our government is borrowing more money, which they then have to print. Far more than you and I are spending at T.J. Maxx, okay? Far more than all of Americans — we went out and we just were on a credit card binge — we wouldn’t make a dent into what the federal government is spending.”

“And yet, we’re going to be the ones paying the price,” Beck warns.

However, the Democrats in the House and the Senate want Congress to raise the debt limit without cutting spending.

“Screw you,” Beck says, “where is my representation?”

“The only thing that can be done with an out-of-control government,” he explains, “is to cut the budgets and bring it back under control. That’s the job of Congress, but they gave that away in 2008.”


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Glenn: Prepare your family for impact



Moody’s is a major rating entity that’s been following the SVB failure, and it has now downgraded its rating of the entire U.S. banking system from stable to negative.

Great.

It’s the latest sign, among many others, that what President Biden is telling Americans is far from the truth.

Moody’s also issued warnings for several individual banks with substantial unrealized security losses. And if you don’t know what that means, Glenn Beck has a metaphor for you.

He says, “My son is collecting baseball cards, and he’s like, 'Dad this one is worth —' and I said, 'Son, it is only worth it when you sell it. You can say it’s worth anything and it can even be marked as worth this, but until you sell it, you don’t know what it’s really worth.'”

He continues, “In the case of bonds, an unrealized loss is: I’m counting on my sheet here to be worth this, but if I have to sell it today in a panic, I’ll lose 25%. That’s an unrealized loss.”

While this is all terrifying, he says if you have your money in an FDIC insured bank, do not take your money out.

If all of the banks start to fail, the first thing that will happen is the local banks will fail. And they’ll fail because people panic, and they take their money out.

Even though we are heading toward a Venezuela-style collapse, he says still — do not panic, and do not take your money out of the bank unless it’s not insured.

He adds that the “one thing you have to do is get on the phone with your local state house member, your state senate member, and your governor and tell them you must not pass the UCC legislation ... it’s flying through the House and the Senate and governors are ready to sign this stuff. It has got to be stopped. That will allow only the digital currency coming from the central bank to be considered money.”

Once the government has this, they control your life entirely.

Glenn says this is “not an overstatement.”

The financial collapse is inevitable, and paired with inflation, it is destroying our currency.

The government tells you to stop spending frivolously on things like hiring people for your small business, meanwhile it's spending money at a record unheard of in all of human history.

It is the most anyone has spent, ever. And the American government is doing it right before our eyes.

Glenn continues, “This is poison, but people haven’t been willing to stand up and say it and it is killing all of us. It will enslave our children. People will die because of the insanity that is going on.”

He says, “Exactly what they did to Venezuela is what this group of dangerous clowns are doing to us now.”

“It’s got to stop. Please prepare your family for impact.”


Want more from Glenn Beck?

To enjoy more of Glenn’s masterful storytelling, thought-provoking analysis, and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.