Glenn: Be ‘healthily’ TERRIFIED of the coming banking CHAOS



Financial expert and author of "The War on Small Business," Carol Roth, joins Glenn on his show again — and she continues to prove to be a wealth of information on what’s happening with the banking system right now.

And unfortunately, it’s chaos.

While the FDIC was bailed out, Glenn says the law was changed with just “the stroke of a pen.”

Roth gives her two cents, saying she has a different take on the situation.

She says “they did not do what I would consider to be a full bank bailout. They did not protect shareholders. They showed management the door. So you’re the people who should be taking on risk, took on the risk in terms of the depositors.”

She continues, discussing the contagion this could potentially cause.

Roth also says that the way this was communicated was one of the biggest issues.

“The hubris," she charges, “the fact that the head of SVB sat on the board of directors of the San Francisco Fed and didn’t anticipate that it might not be a good idea to lock up money for 10 years and treasury . . . there are a lot of really weird questions here.”

It seems clear at this point that the Fed is out of control.

Glenn asks Roth, “Is this the beginning of the currency death cycle?”

Roth responds, “The currency death cycle began a long time ago.”

She continues, “From an FDIC standpoint, you know they’re saying we’re going to put a fee out to other banks. So, when Joe Biden comes out and says the taxpayer is not paying for this — you’re not paying for it directly but you certainly will be, whether it’s a lower interest rate on your money or more fees or whatnot.”

Glenn ends with an ominous message.

He says, “I don’t think people understand the destruction that is coming our way. It’s coming. This is going to happen. It’s just a matter of when.”


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Roth on SVB bank run: Be prepared for potential contagion



Here’s a story that everyone should be concerned about but not many are talking about.

Silicon Valley Bank is no longer. And now it’s spreading to four other banks.

Glenn Beck sat down with Carol Roth to discuss the fall of one of America’s banks, and she has a lot to say about.

Roth begins, “You want to not panic, but be prepared for potential contagion in the financial services arena.”

After all, she continues, this was “the second-largest bank failure in U.S. history, per the Financial Times, after the 2008 collapse of Washington Mutual.”

In addition, Bloomberg has been reporting that north of 93% of SVB’s deposits were not insured, and did not qualify for the FDIC because of the size of the deposit — or other reasons.

While absolutely concerning, Roth says, “This is a really good lesson.”

How? Well, she’s got an answer. Roth says, “If you are in the fortunate position that you have a lot of deposits with any sort of financial institution, make sure they are FDIC insured, or that you have not exceeded the limit, or that you move them around to different accounts with different names on them, so that you are able to have each of those accounts covered.”

Unfortunately, it's too late for those who had their money in Silicon Valley Bank to receive this tip, as many of them are not going to be getting their money back.

Beck asks Roth a question for the less-financially savvy folk: “What does this mean for the average person?”

Her answer is basically to get prepared.

She says, “Go check your accounts and check that FDIC insurance. Or if you’re with a credit union, they have a similar entity that does credit for credit unions and make sure that you have that insurance. ... Hedge your portfolio. Make sure that you’ve got 5 or 10% of your portfolio in alternative hard assets ... things that you can control.”

While all of this is concerning, there is one element that inspires even more fear.

Roth says the “most concerning about the long term is that they’re going to use this as a cover story for a central bank digital currency.”

Beck agrees.

She continues, “This is a very scary situation that can threaten our freedom, and it can threaten your wealth.”


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