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: 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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