The Glenn Beck Program - Best of the Program | Guests: Carol Roth & Ben Spell | 4/11/23

Episode Date: April 11, 2023

Pat Gray joins Glenn and Stu to discuss the Federal Reserve's "FedNow" and the newest additions to the FBI’s domestic terrorism reference guide, including the term "red-pilled." Program director for "The Glenn Beck Program" Dom Theodore joins to discuss how the residents of his county in Michigan are protesting a proposed EV battery plant with ties to the Chinese Communist Party. Recovering investment banker Carol Roth joins to discuss the Federal Reserve attempting to do damage control regarding "FedNow" and the upcoming death of the American dollar. Learn more about your ad choices. Visit megaphone.fm/adchoices

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enlarge our clientele to the world entire. Trouvee to Petites entre Like on Ourson.com Hello, Stil. Hi, Gleck. It's a great Tuesday

and the traffic is looking good. On the podcast today, we'll have outdated traffic that will make no sense to you whatsoever. On the Sevens and the Laws

and the four. And we'll make sure to limit it to streets you don't know in areas you are not. Welcome to the podcast. We're glad that you're here. We got a lot to talk about today. Gosh, who we have? We had Carol Roth on today. We had somebody on from Michigan that is going to tell you the crazy story of what's going on with the Chinese communists in Michigan and how you can help that.

More on the. the government in our lives lying to us the truth on what the Federal Reserve is doing, not only on digital currency, but with their Fed Now program. They're freaking out a little bit. And I always find that as a bonus in any show that we do. So today's podcast brought you by Relief Factor. If you are in pain, stop it. Just stop.

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now. 1995 will get you the three-week quick start trial pack. 800, the number four relief, 8004 relief or relieffactor.com. Feel the difference. Here's the podcast. to the best of the Glenn Beck program. To the Glenn Beck program. By the way, my new book comes out in a couple of months. I would pre-order now to make sure you get a hard copy of it. I'm also recording it. I was thinking about it today.

I think I'm going to put a couple of rays of sunshine in the book in the audio version. It is called Dark Future. And it is part two in the great recent. series. You can get that now. Amazon or wherever you buy your books, just put an order in it for it. Now, Dark Future by Glenn Beck. Sounds like a happy, happy book. All right. Pat Gray is joining us from Pat Gray Unleashed. Man, it does sound happy. It does. It does. Dark future? Dark future. That's fun. That's fun. Well, it does have a happy ending. Oh, good. It does. If we just learn these things, we can stop it. And there are some things that are going on that we are stopping. By the way,

we talked about the Fed Now program. Had you ever heard of the Fed Now program before this program? No. Okay. I don't think so. I mean, I'm sure there were some people online that were way ahead of this. But far as a mass program, I think we were the first to bring it up. They have the federal, that has the Federal Reserve a little upset, a little upset. Yesterday they tweeted, five tweets, basically saying, what? Fed Now has nothing to do with control. Just helping money go one place to another faster. That's all you crazy kids. I would have gotten away with it too if it wasn't for those kids in the fan with that stupid dog.

The Fed Now service is neither a form of currency nor a step toward eliminating any form of payment, including cash. And it just talks about how the Fed just helpers. Okay. So we're at that first place where it's like conspiracy theory. And then the next place is like, well, there's going to be some occasions where, you know, a Fed coin might be. And then it'll be like, yeah, okay, we're doing it. And then everybody will be like, we should kill the people that don't want the Fed coin.

I mean, just follow the Anyway, we'll have more on that coming up in our number three. Now, you remember when the FBI said, we're definitely not targeting Catholics? Do you remember? Who's the head of the Justice? Merrick Garland. When he was testifying, he's like,

I have no idea who wrote that list. I have no idea. He never does. I'm going to look into it, though, for you. I'll get back to you. I'll find those answers. find those answers. We'll circle back and tell you about that.

Right. And if you ask me again in the future, I'm going to say, we've already discussed this. And there was no, there was no targeting of Catholics. Okay. Hey, unfortunately, it looks like Jim Jordan and the House Select Subcommittee on weaponization of government, stumbled on some information from an undercover employee, sought to develop sorts of sources, including clergy members and church leaders inside Catholic churches in Virginia. So I guess Merritt Garland would just say, well, this undercover employee, he was a rogue

employee. He was just doing this on his own. According to Jordan, the FBI's plan called for the Bureau to engage in outreach to mainline Catholic parishes to make congregations aware of the warning signs of radicalization and to enlist their assistance to serve as suspicious activity tripwires. I'm not just a member. I'm a tripwire. The FBI proposed that agents reach out to Catholic parishes to develop sources among the clergy and church leadership. Now, they're definitely not going to surveil. Okay? That's not what they're doing. That's not what they're doing. They just love Catholics and like to be around and just talk to them. Oh, that's nice. They're hoping for the pancake breakfast in the basement. And they're bingo

lovers. Tuesday nights, you can't. That's when you kill people because Tuesday nights, all of the FBI, they're all playing bingo at Catholic churches. So we got that going for us. Now, there's also something else that is definitely not happening, but it is. The newly exposed section of the FBI domestic terrorism reference guide, now they don't know who printed this, but there's some errors in there. Suggests that the use of internet slang words like red-pilled might be suggestive of a user's proclivity

for involvement in racist, involuntary celibate, and or fascistic extremists. What's a thing that people on the right say that we can say is dangerous? Show me, red pill! People who say taxes should be slightly lower are dangerous people. Show me extremists.

It's so bad. There's no effort put into these things anymore. Okay. So, I mean, and look, they are looking for racially or ethnically motivated violent extremists. Nowhere in this or is anything about BLM, you know, or disband the police or anything like that. Of course not. So here are the key terms that some on the right might use. Now, I look at some of these and I'm like,

Come on. I've never even heard of that. But then again, I'm not an extremist, but I am in a room surrounded by them. Hey. You could hear that? Red pill. I mean, that's like common, right? Everybody knows.

I don't know the white pill. I don't know all the different colors. There's a lot of pills. A lot of pills on the internet right now. Internet's popping them like crazy. I cannot keep track of it. Right. I know red pill and blue pill.

Because it was in the Matrix. Everyone knows that. Though I will say, if you would have asked me two years ago, which one was which, I don't think I would have remembered. But now it's just like everybody seems to say this all the time. So you now have to know that red, again, red pill's the one where you get the truth, right? Yeah. You wake up and you don't go back to sleep. See, I still don't know that.

Yeah. Blue is the one you go back to sleep. I wouldn't know it either. I mean, it's just, just internet culture at this point. Yeah. But that's the only reason. And I just, I just want to point out that Stu did say everyone he knows. knows red pill and blue pill.

I hang around people in my circle of friends. They don't know that. Pat was cleared. Although maybe to clear myself a little bit here, I know Pat. And Pat didn't know. You only because you are an FBI infiltrator trying to flip Pat. Anyway. How many Catholic masses have you been to?

How many? Just as to see. Exactly right. Okay. So next word. Does anyone know what a Chad is? Only because I read the article this morning, do I ever heard of it? It was the thing hanging in the...

Yes, that's where I would have tried to. It's a pregnant thing, right? But it's not. It's not that. No, it's a very sexy man. It's a race-specific term used to describe idealized version of a male who is very successful at gaining sexual and romantic attention from women in cells. Now, that one I've heard of. Okay, what is that?

involuntary celibate? Yes. Jesus. Which is just someone who can't... You can't have sex with women because they're not interested. Because they're not interested, basically. It's like what every teen angst movie was made. It was like American Pie was about the same group of people, but now they're dangerous.

Correct. So an in-cell unsuccessfully competes against Chad's for attention. Against Chads. And Chad, like, why are they called? Chad's, do we know? Is it just because the name Chad like invokes? Because Chad Everett was such a sexy man from back in the day. Chad Everett.

With a medical medical center. Medical center. Medical center. Yeah. Okay. Next one. By the way, Karen is not on this, but I think Karen should be put on that. Okay. Karen. What's a Karen? Karen is something like a irritating. Yeah. Woman.

See, this is never happened like in, you know, the history of the language. they've never new generations have never come up with new words it's never happened um looks smacking no sorry looks maxing have you ever heard of it no okay the process of self-improvement with the intent to become more attractive now i don't think that it's the conservative that is all worried about all of this stuff i think that might be a human thing looks maxing maxing normally or blue pill.

Okay, yeah, that's, we know that one. Derisive terms used to describe normal people. People who aren't awoken to your incredible knowledge about X, Y, or Z. Yes. Stacey. What's a Stacey? That is the female version of Chad, if I'm not mistaken. You are exactly right.

Show me. Pat's a terrorist. Okay. You win. Now, here's some others. These are key terms that domestic, racist. Stay, wait, hold, I'm stuck on Stacy. Stacey seems like a very odd choice for, like.

Yeah, I don't know where that came from. Why? Because it's a white name. But it also seems like is it a super common current name? Like, I feel like it's like a name that was popular when I was a kid, maybe. Right, but neither is Karen. Yeah, I guess, but that's true. You would think that Stacy, because Karen is supposed to be an old fart that just doesn't.

So Stacy. Idealized. female you'd think would be in what, her 20s? I mean, as Don Lemon told us, he passed your prime past like 23, 24. Yeah. And he knows. But he knows.

Don would know. He has incredible knowledge of the female body. Yeah. But it's icky. All of it is icky. Is Stacey related to Stacy's mom who's got it going on? Maybe. I don't know.

I don't know that reference either. Maybe she's all that people have wanted and they've waited for so long. Here's another one. Here's another way. It could be. Could be. And you heard of based. I would have to say use this in a sentence.

A lot of people say it like that people who are on Twitter a lot say it. And, uh, and I, what do they say? They say, oh, that's based. And meaning that I think it's like, like playing to the base of the, you know, like of the movement. Like, uh, like no, not, not forgiving political opinion. Racists use like a white race. years old talking like this. White conservative racist.

I mean, I feel like a thousand. That's amazing. Oh, that's what they're saying. They use the term to refer to somebody who has been converted to racist ideology or as a way of indicating ideological agreement. So, right. Like, you know, Hitler's nuts. That's based. That, no, wait, no, Hitler's great.

That's based. Right. Hitler's nuts. is something that blue pills would say. It seems to me to be like, whenever I see it pop up from people, whenever someone takes like what would be described as like an anti-woke stand, right?

Like, an anti-woke stand can go anywhere from, you know, something that's good policy that, you know, it makes a lot of sense all the way to something that goes too far. People would say that's, you know, that's based because it appeals to the base of the movement.

I don't know if that's actually the right description of it, but that's how I see it used. So we've heard great replacement, but I learned that from the left. Oh, the great replacement theory. Yeah, okay. Jews will not replace us. LARPing. LARPing. I think I know.

This is fascinating. This is like a whole language. I think I know LARPing because I think I've heard my son say that in reference to weirdos who go to the, like, you know, medieval festivals with, you know, wood source. It's unlikely that's what it's... No, it's live action role-playing. Okay. But they use it online to deride individuals accused of not being as extreme or in possession of skills or other valued characteristics they claim to have.

Okay. So how would you use that in a sentence? That's weird. You do... Pat's a radio professional, but he's really just larping. But what does that mean? It would mean that Pat is pretending to be he doesn't really have the skills, which is an absolute true example. But I just throwing it out there.

And the last one, of course, is red-pilled. Only race-motivated individuals that want to create terror and overthrow the government will use red pill. Only mega-maga Republicans have ever used that. Racist and anti-Semitic and fascist believers. We'll use the word red pill. According to the FBI, I'm just telling you what the law is looking for. It is entertaining that the main reference here you're talking about comes from a movie directed by now to trans brothers. That came out.

It's weird how that all came together. Yeah, it is. This is the best of the Glenn Beck program. Welcome to the Glenn Beck program. I want to introduce you to somebody. I think you may have met once maybe in the. I don't even know how many years he has worked for me, maybe 15. He is the undersung hero of this program.

He is the program director for the Glenn Beck program. He is actually the guy who, when I was about to be fired in 2001, is actually the end of 2000 after my first year, he said to me, why does your show sound so different than it did when you first got here? And I said, because I'm trying to, you know, make everybody happy. I'm trying to do what the program director wants and what the, you know, the vice president of programming wants. And it's just kind of, it's not going anywhere.

And he said, well, you know they're going to fire you because I said to him, they're going to fire me at the end of the year. And he said, they're going to fire you. So just do what you want to do. Do the show that you said you were going to do. And you started doing. And I did. And we were number one within six months. And Dom has worked for me for a very long time now.

Dom, welcome. Thank you. Thank you. What an introduction. Well, you are responsible, I think, really in many ways for me being on the air. And you always are giving me the absolute truth, even when I don't want to hear it. And I appreciate that. So, Dom, I wanted you on because you're a Michigan resident, and you're following this EV battery plant in Marshall, Michigan,

which you are, I mean, I know you. You are not an activist, just like I'm not an activist. But you've become one over this Goshen battery plant. Tell me why. Well, I live in this community. And, you know, now there are two different projects going on. The one that you just mentioned in Marshall is actually a Ford partnership with the Chinese. And that's a separate issue.

I live in Macosta County where Goshen, which is fully Chinese-owned, is attempting to insert a plant here. Paid for by our tax dollars, by the way, $750 million of our tax money is being used to subsidize this. In the middle of a little town, it's actually a green township, which is just north of Big Rapids in the community that I live. So, you know, one of the great things about working for you is, you know, with technology being what it is, you let me live where I want to live. We moved to this community several years ago because we like the area and small town community. And if you were to tell me that we'd be involved with the battle like this, I wouldn't have believed you. But literally, we're fighting to keep the communist Chinese out of our little county here in Michigan. It's crazy.

This company, we found out, and I've been watching the press report. on this. They'll say, every time they'll say, conservatives say, or a conservative newspaper says, no, their actual, I don't even know what you would call it. They're founding documents for this company. They say that they are part of the Communist Party. They obey the Communist Party rules. and they're even supposed to start little communist party parties, you know, bringing people together and trying to get them to join the Communist Party. It's worse than you can imagine. So the more that we dug into this, the more it stinks.

Let me give you a couple of examples. You're referring to their articles of association, which are on their website, and it clearly outlines that basically they have a commitment to carry out communist party activities in a couple of coordinates with the Communist Party of China. It says it right on their website. And when we were told initially that Volkswagen is the majority shareholder, it's a great talking point, but in their own shareholder meeting minutes from January, they state that after 36 months, the Volkswagen investment will adjust so that the Chinese founders will always retain, and this is in their words, at least 5% more ownership than Volkswagen. It's almost as,

if like it's a temporary ruse to get the talking point that it's not a CCP run company. And then after 36 months, it's surprise, gotcha. By the way, one of the founders is a man named Lee Chen, who you can find on the World Economic Forum website, where he brags about his membership in the CPPCC, which is the Chinese people's political consultative conference. And that's the central part of the CCP United Front System. they don't even hide it.

And I'm not surprised because, you know, Governor Gretchen Whitmer was just at the World Economic Forum. You know, so she pows around with these people. So she has given $715 billion in tax money to a Chinese company to make batteries. I don't know why we wouldn't do that, you know, with an American company. They're trying to say, oh, no, you'll feel better because we're partners with the company that was started by Hitler. Okay.

And the worst part of it now is this is eminent domain that is going on. They're trying to buy the property. And from what I hear, it's real Gestapo-like tactics that they're using to buy the property. Is this true? Yeah, well, here's what's happening here. So you're talking about the Marshall situation. they actually are starting the process of eminent domain, as I understand, here in Macasta County, they haven't started that yet.

What they're doing is going door to door, and we've received reports from whistleblowers that have said that, you know, a man shows up at their door, presents them with an offer that actually is quite generous. They're offering way more because, of course, they have our tax dollars to play with. So, you know, it's basically unlimited resources. And they're going and overpaying for these properties, but they make them an offer. And they present them with a document that several hundred pages, and they're told, you have five hours to sign this.

And if you don't, the offer is rescinded. Within that documentation, you know, there's non-disclosure agreements, you know, gag orders and all that. And these people don't even have time to seek legal counsel. Many of them are elderly farmers. They don't know what they're signing. They're scared. And they're also told that if you don't sign and you don't take our offer now,

your property is going to be worthless because there's going to be a factory next door. So either you sell it to us now at this inflated value or you're not going to have anything worth selling in another couple of years because we're going to put this factory in. We're going to widen the road and take your property. And, you know, some people have told them to go pound sand. We do have a copy of a document that somebody that told them to pound sand was presented with a second offer that wasn't quite as ridiculous. but it was still, you know, still had a gag order in it. So the other thing that's going on recently is Green Township. You know, in Michigan, if you don't have your own local zoning planning board,

you default to the county. Well, Green Township just formed their own zoning board to take it away from the county level control to Green Township. Of course, that's all just to just. for it to facilitate this Goshen thing. So, you know, this is all one-sided. The other interesting thing is one of the

board members actually owns land in the targeted area. Holy cow. The Midwesterner is a local or regional online news magazine, and they just leak the story about that today. Yeah, one of the board members. Now, this guy had to recuse

himself from some of the votes recently. But, you know, this is, This is a direct conflict of interest. So is there enough pushback? I know I saw that one of the town meetings was closed to the public. They said, you know, there are so many threats, it'll get violent. And so they did it all online. Is that your township?

Yeah, that was. So that was April 5th, yes. And they had an informational meeting that was originally going to be at the township hall. Then they moved to Ferris State University, and then when they heard rumor of, you know, hundreds of protesters showing up, they just decided to go virtual. And get this. The township supervisor said, they're using Antifa tactics. It's lappable.

They compare our protest to Antifa and said, well, you know, hopefully this isn't another peaceful protest. It's fascinating. So what do you need in your town to stop this? How can the rest of the country stop this? This is insane and it is happening around the country. We must ban China from buying land and doing business here in America. They ban us. They ban us.

By the way, anybody who's invested in a Chinese company, No, I invest in Asia and I've got some investment in some companies. You really don't. That stuff is going away so fast. It is a shell corporation. It's an offshore shell corporation. All of your money goes to that corporation and then you supposedly have shares. That's against the Chinese law.

The minute they close this down, you're going to lose all your money. Okay? It's going to happen. It's going to happen. But they're still allowed to buy stuff here. We've got to stop it. How can we help you? So we're having a rally and fundraiser on April 22nd at the farm directly across the street from the proposed site.

This is one of the concerned citizens by the name of Lori Brock that owns this farm. It's a majestic for region's horse farm, and it's on 19 mile road in Big Rapids. What we really need is money because, obviously, Obviously, there are legal costs. We have a recall effort to try to recall the board. There's mailers that, you know, we need to get out to keep the community informed. And the audience can donate right now if you want to help try to keep this Chinese CCP-owned plant out of the U.S. If you text the word no-go, N-O-1-801, that's no-go to 801-801, that's no-go to 801-801-801.

you can donate. Our friends at Stand Up Michigan have set this up to help us. They've been a tremendous help to us. The folks at Stand Up Michigan, as you know, where some of the people involved with opposing the lockdowns and the masking of kids in school here in Michigan, it's a great organization, and they've stepped up to help us. Okay, so make a donation, just text, No Go, N-O-G-O-E-O-1-801.

And when is that rally, the 20... 22nd of April and I hear that there's even a special video message from someone we know and love. I have heard that, but it might be better if that person just got on a plane and joined you. Well, I would love that. If you're willing to do that, we would love to have to. No, I was saying who was ever cutting that video. I'm going to try, I mean, I am slammed, but I will, I'll try to do. that. I will at least be there virtually with a video, but I hope to actually attend myself.

Well, we really appreciate all your help, but it means the world to us. Thank you so much. God bless you. God bless you. Up in Michigan, these are just poor, regular farmers trying to stand up against communist China and their own state. No-go, N-O-G-O-1, 801. The Best of the Glenn Beck program. Carol Roth, the author of The War on Small Business, which introduced her to me at first. She is a former investment banker. She is somebody who, oh, she, she sewed her wild oats on Wall Street, and then she found Jesus. And now she concentrates on Main Street.

Carol Roth, welcome to the program. How are you? Glenn, good to see you. Good to see you. By the way, she has the new book coming out about the same time mine, buy them together. If you're going to, if you're going to buy them, they make great companion pieces. Her book is, you will own nothing. And it releases this summer along with mine, which is dark future, buy them both together.

Carol, I want to talk to you about yesterday, the Fed is freaking out. And let me just give you the Fed FAQ. they five tweets of this the Fed now replacing cash is it a central bank digital currency Fed now it is not related to digital currency Fed now is a payment service for the Federal Reserve it's making available for banks and credit unions to transfer funds absolutely true right this is absolutely true there's been a lot of misunderstanding and misinformation and you know rightly so nobody should trust the Federal Reserve. They have absolutely decimated, you know, the purchasing power of the dollar. They have been a conduit to help, you know, non-merit-based inequality. And so it is true.

Fed now is an enhanced payment service. If you think of things that you might use already ACH clearing, the Fed wire, when you do a wire transfer, there are these services that help facilitate payments. So in other words, if you have, if you have to go to a, What do you call those, those check cashing places? Payday loans. Yeah, payday loan. You go in, you bring them the check, but it takes a couple of days before it clears. You can't go to your bank.

You know, if you're somebody who doesn't have the money to cover it in your bank and get the cash because it takes multiple days to settle, so you go to the payday loan and they give you that advance because there's this differential in settling. It's also you can only do the banking, you know, during business hours. Now this allows 24-7 payments instantaneously, and it's something that is actually important in terms of the arguments against CBDCs. Because a central bank digital currency, one of the reasons they said we needed it is because we didn't have this instantaneous settlement. So you have to differentiate from the settlement architecture, that the payment system, the way that the banks clear between themselves and the actual current. And I think that not to say that we should not lighten up on the Fed, because again, they can't be trusted.

The government can't be trusted with any of this. But we need to use the right language. Otherwise, we're not going to be taken seriously. It's going to be a boy who cried wolf scenario. And we get to the actual issue. We need to be able to address that. So we have to differentiate the payment system from the currency itself. Not to say that they can't possibly be used together, not to say that we should keep an eye on it.

But we need to understand that these are two different things. And the one that is really scary is changing the currency and giving the United States government and the Federal Reserve full control over the currency. Okay. So let me restate it in a different way. So we're both on the record here and people understand. The new Fed Now system is merely a structure of payment. Now I would phrase it maybe a little stronger than you did. on when you were talking about this is the system that is the reason why so many people with Bitcoin

say we need Bitcoin is because of the instant settlement that is going on. To me, that does take away the uniqueness of a digital currency and puts the Fed closer to a digital currency. However, it is needed, that structure is needed, and they could stop there and you'd be fine. but they have such little credibility and all of the federal government. I just want to repeat this pattern because every time you see something, this is the pattern. Digital dollar, it goes like this, but you can put anything where the digital dollar is. We're not using the digital dollar.

Okay, we're using the digital dollar sometimes. Okay, the digital dollar is good and people should use it. you must use the digital dollar. That's everything that our government has done falls into that cycle. So they're trying to discredit the Fed now people that are saying that's digital currency, which it is not digital currency. They're trying to use this to discredit people so they get off the digital dollar. And that's why you're right when you say we have to be exact in our language.

Yes. And the other thing that people have to understand when the Fed comes back and say, oh, you know, we're not really doing anything with the CBDC. Well, that's completely untrue, right? I think it was November of last year. Maybe it was August. It's been a long year. But they came out with the program, the New York Fed, with major financial partners. And they did a pilot test of a CBDC. The G7 also came out with principles for retail facing CBDC. CBDC is because that that line that you talked about Glenn, how it starts and where it ends up, you know, first they're going to say, well, we're only going to use the CBDC just between the banking system. It's not going to be consumer facing so you don't worry about it. Then you go, oh, that's not a problem. Well, go ahead and do that. And then they move it to retail facing. But there's no reason for the G7 to come out with retail facing CBDC principles if that is not something that they plan to do. So the idea that they're saying, we are not planning this is absolutely untrue. And that's why we need to be laser focused on the currency aspect of this. Okay. Bitcoin, every time they take a move against Bitcoin, it seems to me like they're going to shut all this thing down, all of this down. They're trying to get rid of all the exits for Bitcoin right now. But Bitcoin is up to 30 grand for the first time since June. So it's gaining steam. Gold is going is gaining. steam and the dollar is getting crushed. And if I were, I said this and I'd love your opinion,

if I were an ally, but not like one, you know, not like Great Britain that has so much more riding on it. But I have been taking the U.S. dollar in for the for the use of that as my as my gold in my central bank and I've been using it to buy oil and everything else. As China offers another deal and Saudi Arabia offers another deal, I'm penalized. When I hold that, inflation kills me, kills me. And I can't imagine being a country, a smaller country, and saying, you know what, looking at the situation, I'm going to stick with America because they look like they're on the right track. I mean, we're making so many bad moves. I think we're encouraging them to get out of the dollar.

Absolutely. I just did a piece for the blaze on yes, King Dollar is dying and is shepherding a new world financial order. And it's exactly this. When you have commodities like food and oil that are priced in dollars and then you're not keeping the dollar as good as gold anymore. And all of a sudden, the dollars don't buy as much as they used to for these countries, whether they're a big country or a little country, it threatens their national and their economic security. So we have created the reason why they are looking to go away from the dollar.

Nobody's ever liked the fact that, you know, we were the World Reserve currency, but we held it stable. So they decided to play along. Now that that is no longer the case, they cannot rely on this. This is a national and economic security issue for them. And that's why you've seen some of the MENA, the Middle East, North Africa region countries decide to move away from the dollar in recent years. That's why you're having all these brick countries talking about potentially creating a different currency and settling in, you know, maybe things like yuan, which by the way, you know, you would say to yourself, well, why would anybody want a communist currency? Well, if you've been paying attention, China has been loading up on gold and they have two different

yuan. They have the internal ones that the people inside of China use. They have the one that they use for settlement, which by the way, they're offering gold settlement behind it. And they're So, hey, at any point in time, if you don't want the yuan, you can come and get the gold because everybody wants a gold standard. So, Carol, as you look at this, we have lost seven percentage points of the U.S. dollar being held by countries. That means that we're having trouble selling our debt because there are fewer buyers now. And I've said this is the way it was going to happen. and I've been called a conspiracy theorist forever for just thinking logically. At some point, you know, everybody's like, we're still the best in the world.

Yeah, but we're the best in a heap of garbage, okay? And just because we're on the top level of the garbage doesn't make us not garbage. And as soon as somebody sees weakness, they will say, you know what, let's do something else. and if you start to move people that way, your bigger countries will start to divest themselves of the U.S. dollar, and they won't get rid of all of it until there's, you know, like a margin call until people are like, I got to sell this right now. And everybody will panic and flood the market. Does that seem reasonable to you?

Yes. So one of the benefits of writing a book, which is very painful, but, you know, for the research that I did for you will own nothing. And I know you've been doing for dark future, you get to learn all these statistics. So I've actually pulled one up. So in 1940, when, you know, the British pound sterling was the World Reserve currency

before the US dollar was. In 1940, the British pound sterling was 68.9% of total reserves. And the US dollar was 27.9%. 20 years later, by 1960, that flipped. 61% of the global reserves were the US dollar, and 35% were a pound sterling. Now, in another data point, if you look at what China's been doing in terms of being a

holder of treasuries, back there, I think their peak a few years ago was $1.3 trillion that they held. They were the number one ahead of Japan. January, 2023, reported by the Treasury, China now holds under $860 billion worth of treasuries. Wow. So the implication for this is that this is the way that the U.S. U.S. government finances the debt, right? They issue securities. They issue debt securities,

and that's how they pay for their deficits. If you have countries around the world who no longer want to buy securities, and oh, by the way, they're flooding the market with what they have, so there's plenty of supply. Who's going to be there to buy our debt in the future? There is going to be no buyers, which means the only buyer available is the Federal Reserve slash U.S. government. Na-na-a-na-ha...