Glenn Beck (3:27)
Good. There is a. There's a story in the Blaze today. Trump's economic blueprint is hiding in plain sight. Let me give you just a little bit of it. The Trump tariff plan has rocked the stock market and economists around the world, with the President notoriously labeling the implementation of his tariffs as Liberation Day. While others called his reciprocal moves a huge mistake. Many have argued that Trump did not actually implement reciprocal tariffs at all, though look no further than on X where even though even through his platform's owner, Elon Musk is one of Trump's top advisors, White House post about the tariffs was slapped with community notes label that said the numbers from the administration were not based on actual foreign tariffs at all. Blah, blah, blah, blah, blah. So the story goes on to say, so what is he doing? And I would like to, you know, they interviewed an expert that is with the President, Steven Moran, big time economic adviser. He's worked at the Treasury Department and one of the top advisers now for the President. And he talks about a couple of things. Uh, he talks about the Mar A Lago accord, which is speculation. Don't know if this is, if this what the President is doing, et cetera, et cetera. But there's also something that Steven wrote about, and I'll talk about it here in a second, that seems to be laying out the same course that the President may be on. So let me explain this to you because what they're claiming is that the President may be tweaking the value of the US Dollar to help America out. And let me go over this, because there's some serious risks attached to this one. So imagine the US Dollar as the coolest toy on the playground, and everybody wants to play with it because it's the best. Nobody thought we could have a better toy than this one. That toy is called the world's reserve currency, meaning that countries use it as gold. It is their savings account, and they use it for trading, for savings, for buying stuff globally. Now, the Mar A Lago Accord, which the Blaze says might be a Trump administration plan, wants to make that toy a little less shiny on purpose by devaluing the dollar, basically making it worth less compared to other, other countries money, in particular the Chinese one. Why? Well, imagine you have a lemonade stand, and our lemonade is really pricey because it's traded in dollars and you got to use dollars. And, you know, dollars are just really expensive. Our lemonade now is much more expensive. But across the street, China is selling theirs way cheaper. So everybody is buying their stuff from China. Well, if we would devalue our dollar, our lemonade would get cheaper and more people would buy from us than from China. That's a very dangerous game we play. The idea is to make American goods like cars, steel, cheaper to sell overseas, which would boost our industries and create jobs over here. Okay, now the play story also mentions another goal, helping our massive national debt, which is now 33, 34 trillion dollars. If the dollar is worth less, then the debt is easier to pay off. It's like owing 100, but now 100 isn't as much as it used to be, so it's less of a burden to repay. But here's the catch, and it's a big one. I think Germany did this. I think that's what Germany did. Devaluing the dollar can cause inflation, which means prices go up for everything. So your favorite candy bar, you walk into the store used to be a dollar. It's now $5. And if it's made overseas, it's guaranteed to be $5, because now the tariffs on it and everything else, and we've devalued our dollar. So all the foreign stuff is far more expensive since our dollar buys less. Okay. It's different if you're buying it with gold, because gold dollar and gold, it doesn't change with the dollar's value. It seems like it's going up, but it's actually not. The dollar is going down. So it takes more dollars. You know when you see that price of gold is up? No, no, no, usually that means the dollar is down. Okay, so because we're not buying everything in gold or saving gold, nor are other countries, the price hike hits hard. Now imagine that happening to everything. Groceries, gas, clothes. Well, the bra. The Blaze and Steven Mirren warned that this kind of inflation could be a disaster for Americans. Gee, you think? It's not good, it's not good. Now there's another huge risk here. Devaluing our dollar to pay down the debt could be seen as an act of war. If I have a trillion dollars of our debt, and I want you to pay a trillion dollars back if you start devaluing your dollar, and now you're only really giving me 500 billions for my 500 billion for my trillion dollars that I have in my savings account. I'm kind of at you. You're intentionally stealing from my account. Right. China has well over a trillion dollars of, of our bonds, U.S. treasury bonds in their piggy bank. We devalue our dollar, we're taking money out of their piggy bank. And just setting it on fire could make them furious. You know, they might see it as an economic attack. The Blaze pointed out that this could spark a trade war, but maybe even a war war. We're talking about trillions of dollars. Don't like to point, don't like to poke a beehive, you know, just because some of the, the honey inside might be really good. No, let's not, let's not poke the beehive unless you're prepared for all of the possible consequences. Now the Blaze mentioned something called the Plaza Accord which happened back in 1985. And it was a deal that was made in 85. We got together at the Plaza Hotel in New York with countries like Japan and Germany and the, the agreement was to weaken the US dollar to help American industries. Because back then our dollar was super strong and it was hurting our exports like now. And it worked for a while, except Japan got hit hard, their money got too strong, their exports tanked and they ended up in decades long economic slump. Ever wonder what happened? Remember when, when Japan was huge, they owned everything and it was like, I think they forced me now to name my next child Sony. And then all of a sudden it stopped. And you didn't. What, you're like, what happened? Well, they just crashed. Yeah. Why did they crash? Because of the Plaza Accord. We weakened our dollar which made everything from Japan more expensive. And that put them, that put them out. Now the Mar A Lago Accord is like a modern day version of that, except this Time. It's aimed at China and the stakes are much, much bigger. So what's the upside of this? Well, it could make American goods cheaper abroad, so our factories will start, you know, buzzing again, will create more jobs. It also might shrink our trade deficit. That's when we buy more from other countries and we sell to them. We need to sell more things to them. If our stuff is cheaper, then we sell more and the gap closes. Third, like I say, could make our debt feel lighter to pay off, at least in theory. But the risks of this are massive. Besides inflation and the act of worthing, if we make our dollar less shiny, other countries also might say, you know, I'm not going to play with that toy anymore. I'm not going to hold that toy. Wait a minute. It's the greatest. Well, no, not anymore. Because now it has cost my treasury all kinds of money. I've lost half my money because it's not gold. And that was kind of the plan here, was that you would never devalue your dollar, United States, and that way we would hold your dollar as our reserve currency. That's a very, very big deal. If we lose our, we lose our, our reserve currency status in the world. We lose all of our VIP privileges. We can't borrow money cheap. Everything gets pricey, Much, much more pricey. Blaze also warned that China might dump our treasury bonds that could crash our financial markets. You know, this is, look, he's playing Jenga, and I hope he's the greatest Jenga player of all time, but he's playing Jenga. I don't know if they're going for this. Blaze thinks that it's likely. You know, Steven Miram, he wrote or co wrote something called A User's Guide to Restructuring the Global Trade System. It spells out this whole plan and people have been saying, no, that's not what Trump is doing. But he wrote this before Trump got into office and he's on the Trump team. And it seems to be, you know, mirroring exactly what is, what is happening. Uh, he talked about using tariffs, taxes on imports, pressure China into a deal, suggest national security rules to force everything through. Um, this is exactly what the President is doing. And with an advisor like Mirin in his corner, I mean, there's a chance this is what he's cooking up, especially since Trump loves the idea of boosting American industries and taking China on. But it's a very, very risky game. It's, you know, like, we're going, we're at a carnival gang, and I really want that stuff Bear. Okay. All right, well, I'm gonna get you that stuff, Bear. Instead of using the BB gun though, you're using a shotgun loaded with slugs. You might win the bear, but you also might kill everybody behind the counter with it and take down the whole stand. So I, I'm just glad that I'm the one explaining it and not having to make the decision on it because this is a very, very. We are in a high stakes game. Never seen anything played. Have you? You seen anything played this high stakes?
