Federal Reserve 'acts like firefighters' but 'they are the arsonists'



The Federal Reserve may be the central bank of the United States — but it’s a private corporation that actually has nothing to do with the federal government.

Not only is it a private corporation, but Thomas Massie believes it’s what’s causing America’s skyrocketing inflation.

“What they did during COVID is they created trillions of dollars out of thin air,” Massie explains to Glenn Beck. “Congress spent those trillions of dollars, but it’s the Fed that enables it and it’s the Fed that pulls it off.”

“The Fed acts like they’re the firefighters, but they are the arsonists,” he continues, adding, “The Fed starts out as the arsonist, then they come in and they do the firefighting by raising interest rates, and then they go in and bail out the couple of banks last year. So, they’re causing the problems that they come in and allegedly solve.”

While inflation impacts millions of Americans negatively, the Fed doesn’t care — because it’s only the rich who matter to them.

“They make sure that the rich people can survive through inflation. The poor people can’t, or even the middle class can’t,” Massie explains, telling Glenn that while the U.S. dollar is the world’s reserve currency, it may not be for long.

“No politician in any other country is going to take responsibility for their own fiscal madness. Everybody’s going to blame it on the United States because we were greedy, grotesque, and took on so much debt that we devalued the dollar, and it’s going to affect the entire world,” Glenn agrees.

This is why Massie believes it's time to end the Federal Reserve.

“They’ve been asking me, ‘What if you get rid of the Fed? What do you replace it with?’ That’s like saying if you take out a tumor, what do you replace the tumor with,” he says, adding, “The serious answer is we go back to stable currency that the government can’t manipulate.”


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THIS is Where Inflation is Coming From

THIS is Where Inflation is Coming From

THIS GOP candidate just said he will 'cut 75% of the federal workforce' to combat inflation



It’s no secret that the government just can’t stop spending, and the top CEOs around the world are well aware.

At the Barclays Global Financial Services Conference, JPMorgan Chase CEO Jamie Dimon warned that the U.S. is “spending money like drunken sailors around the world” and that an economic “soft landing” is likely not on its way.

Glenn Beck is also clearly concerned.

“What is the plan for inflation?” he asks. “Because this is not good and the only plan that should be considered right now is one: stop the spending.”

“You are being robbed,” he continues, noting that the government is now saying its target is 3% inflation. “Why would we put up with that?” he asks.

“If you do 3% in ten years, I’ve lost almost 40 cents of every dollar,” he says. “You’re going to learn about hyperinflation the worst possible way.”

Republican presidential candidate Vivek Ramaswamy has said that in order to combat the economic crisis, he’s going to cut 75% of the federal workforce and that 50% of those cuts will be made in his first year.

While Glenn isn’t pleased with most Republican candidates' answers — or lack thereof — to the question of how they’ll deal with this major issue, he is pleased with Vivek’s. “He had me at hello,” he says.

“This is what has to be done. We are at the time where we all knew this was coming,” Glenn adds.

“All of these entitlements — because we didn’t actually have the money — we put them onto a debt sheet and just our interest is going to kill us. It’s going to kill us. You’ve got to make massive cuts right now,” he continues.

Not only would this help the U.S. financially, but Glenn notes that this would be a highly efficient way to actually combat the Deep State.

“And by the way, you want to stop the Deep State? Cut 75% out.”


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Want to know the FACTS of Bidenomics? Well, here they are...



It might not come as a surprise to Americans, who are feeling more financially strained than ever, but it’s fairly clear: “Bidenomics” is not fixing the economy, and the “experts” are not telling the truth.

Glenn Beck is well aware.

“Apparently,” he says sarcastically, “we’ve not been told the truth.”

As inflation and mortgage rates have skyrocketed to over 7% and APR on credit cards has shot to north of 20%, most Americans can’t help but recognize and feel the effects of “Bidenomics.”

“This has put 61% of U.S. consumers into a paycheck to paycheck. That’s two percentage points higher than it was in June,” Glenn notes.

78% of Americans who are low-income consumers and earn less than $50,000 are also living paycheck to paycheck, which is up 4% from 74% as recorded as recently as July.

65% of American consumers earning between $50,000 and $100,000 per year are living paycheck to paycheck.

Even Americans who make over $100,000 a year have seen an increase, with 44% living paycheck to paycheck.

“That’s disturbing,” Glenn says, “when you have a great number of our fellow Americans, over half, not able to afford a meal or a payment if that paycheck stops, especially when you look at what is happening.”

Glenn says that while the Biden administration touts the jobs numbers in America, they’ve been revising all the numbers.

“They’ve overestimated the job number every single month, sometimes by a hundred and some thousand.”

According to the U.S. Bureau of Labor Statistics, between July and August, there was a decrease of 1.223 million native-born people in the workforce. However, when it comes to foreign-born workers in the same period, the number increased by 688,000.

“So, people born here in America are losing their jobs, and those who are coming across the border are gaining those jobs,” Glenn says.


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Financial expert ANSWERS: Should you pay off your debt NOW?



Carol Roth, financial expert and author of “You Will Own Nothing,” is a wealth of information on the current situation we’re facing in America.

Glenn Beck sat down with her to ask her just what the American people need to know in order to make their own informed decisions as the dollar weakens, inflation rises, and the government rolls out Fedcoin.

First, they agree that it’s important to get any grief out now.

“You are going to go through grief as we lose some of the things that we have always traditionally known. It’s better to do it now than it is when the time comes,” Glen warns.

Roth agrees, adding, “We may not be able to stop the train from going off the tracks, but I can personally take shelter. That’s what you have to do; you cannot panic here. You have to prepare and say, ‘What is it I can do? I might not be able to, you know, stop the new financial world order, right, that’s a huge tall order — but what can I do in my life to make myself more secure?”

One of the questions Roth is asked is whether or not Americans should be paying off their debts.

Roth answers, “People sometimes don’t differentiate between debt that is used for spending and debt that is used for investing. There’s good debt and bad debt. You don’t want to be taking on debt for your spending, but you want to be able to use it productively for an investment.”

But what happens to debt if it all goes south?

Roth says that “if the dollar loses purchasing power, it’s actually good for your fixed-rate debt,” because then your “debt is really in a sense worth half as much as it was today in the future.”

She reminds Glenn’s listeners that she’s not a financial adviser and it’s not financial advice — but all this is just “things to think through.”


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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.”


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