Brian, John, Seventy Percent discussed on The Glenn Beck Program
Years in crash. One home gosh. Wow people's eight this is not weimar. It's not zimbabwe and it's not yet do we you know it wasn't weimar until by point like oh my gosh and it's too late any idea when it becomes too late. I mean we are headed and correct me. If i'm wrong. We're headed for zimbabwe or a or a weimar. If we don't stop this at some point right. The trends are absolutely unsustainable. I mean in total The congressional budget office proposed two hundred and four trillion dollars in deficits over the next thirty years even before the recession even with low interest rates hundred four trillion over thirty years. You know you add in interest interesting crease. You add in what we're going through right now. You could be up to one hundred fifty trillion over thirty years. He's numbers are so big. It sounds like monopoly money and will be believe money at some point. The system can't hold it up and that could be in five years seven years years a lot of it really depends on the bond market it to the extent that the bond market is lending washington money at some point. They're going to say we're gonna stop lending you we don't think you're good for this. This is ridiculous and you're going to have to pay us twice. As high of interest rates to compensate for the risk at that point you get into this vicious circle where washington has to pay higher interest rates in order to attract lenders which only makes borrowing more which makes them even more nervous which requires even higher interest rates that point. I think what happens is washington says. Okay forget finding lenders. Just gonna use the printing press. And that's when you start looking like germany when we didn't we already kind of hit this in some ways. I mean i think it was over last summer or the summer before we offered bonds and nobody took them in the feds started buying them y- short-term we're facing that right now because with deficits three point three trillion dollars last year could be even bigger this year. There just isn't enough. People buying bonds to pay for that as a matter of fact the number of borrowing. We're getting internationally. New borrowing has been pretty much zero China and japan have not been buying our bonds at all and domestically there just isn't enough savers in order to pay for all this so right now. We're facing you know the printing press running it because we can't. We can't find three to four trillion dollars a year for domestic people to lend to us now. Hopefully as the recession ends the deficit goes down to only one or two trillion dollars a year. I only in air quotes. That'll be a little bit easier to finance but but it's not sustainable term to keep borrowing one to three trillion dollars a year. Have you seen what's happening in davos with a great reset trying. I'm everybody's carrying such a heavy load. Yesterday they said all we need is fifty trillion dollars and we can. We can do all these things fifty trillion. That sounds like we're politics are right now. You know a couple of years ago. i i wrote an article that said the democrats proposals would cost forty two trillion over ten years and people thought i was crazy to use number that big. No one would ever propose that and now these numbers are old hat you know. Green new deal Medicare for all all of this stuff. We were hearing fifty hundred trillion dollars thrown around like they're nothing. Thank you so much brian to have you on again. But i need to take some medicine here before i talked to again. Brian thank you so much. I appreciate it. We'll talk again. I i would like to go in a little further on what it means when the dollar starts to lose its value and and who really gets hurt. It's the people who always played by the rules and people who have their money in a savings bank. All right brian thank you so much. Appreciate it better than anybody i swear. He's great. follow on twitter at brian. Underscore riedel believe it is our i e de l. Great place to go. Because he's got this stuff and he's been saying the whole time he was saying it every president going back even through the trump through trump although all time now a lot of conservatives having focused on the budget here and the debt for awhile hopefully that's going to return here with biden is president. 'cause it's freely important that is i mean that is the one good thing about the biden administration is at least conservatives will start paying attention to the dead again. Some people find their faith. Yeah John lives in kansas. Few years ago back injury made it so he was living every single day in pain. He tried a number of different things to try to make it go away or at least dole at the. Nothing really worked. Fortunately john listens to the radio even more. fortunately he has good taste in radio shows. Hello john he heard a certain velvety voice. Talk radio guy. Talking about relief factor. John was like anna nov. I believe this clown wait. A minute was by the by the point that he heard me talk about. He was living with back pain For years and he had aids leaves it the point of give anything a try so he ordered the three week quickstart well. That radio man turned out to be right because he writes within a few weeks. I felt better That i have not only in years. But i i felt better than i had before my injury. He got his life back to. It's not a drug is developed by doctors and seventy percent of the people who try it for three weeks go on or more because it works for them order the three week quickstart in see if it works for you. Nineteen ninety five is the three week trial pack. You can get it at relief. Factor dot com relief factor dot com or call eight hundred five hundred eighty three eighty four eight hundred five hundred eighty three eighty four. It's relief factor dot com. So they're keeping the national guard in washington. Dc and nobody will explain why Yesterday we asked the army secretary Wh why are the troops still there. They referred the washington examiner to the fbi. The fbi declined to respond now. The acting secretary for the army. John whitley told reporters yesterday in a conference. Call that what i can tell you is in terms of what the fbi is briefing us. Is that there are several upcoming events that we need to be here for When pushed on it he said we don't engage in intelligence work ourselves. We rely on federal partners and particularly the f. b. i. to provide that information after the january six capital riot intelligence failures by law enforcement were cited by former trump. Army secretary ryan mccarthy He said You know we. We should have been notified of this and had the troops there they said we don't do domestic intelligence. We don't know it's against the law for us to do this. Whitley said f. b. i. Briefings have indicated that an upcoming unlawful first amendment protected protest could be used by militias actors to incite more violence where posturing our forces to be able.