With every passing day it becomes more and more obvious that Glenn Beck is willfully ignorant and will continue to repeat things on air that have already been debunked because he simply will not allow the truth to get in the way of his agenda.
As we noted just the other day, Beck has been claiming that the world was shocked to recently learn that, back during the 2008 economic crisis, Russia approached China about the possibility of selling off massive amounts of Fannie Mae and Freddie Mac securities in order to create even more chaos. Beck claimed that if people simply watched the programming on his network, they would have known this fact a whole eight months ago.
Last night, he made this same point again, only now adding that his staff “is being led by a higher power” that is allowing them to always be well ahead of the rest of the news media:
Of course, as we pointed out last time, this particular piece of information had been known for years because former Treasury Secretary Henry Paulson revealed it in the book he published back in 2010:
Russia urged China to dump its Fannie Mae and Freddie Mac bonds in 2008 in a bid to force a bailout of the largest U.S. mortgage-finance companies, former Treasury Secretary Henry Paulson said.
Paulson learned of the “disruptive scheme” while attending the Beijing Summer Olympics, according to his memoir, “On The Brink.”
The Russians made a “top-level approach” to the Chinese “that together they might sell big chunks of their GSE holdings to force the U.S. to use its emergency authorities to prop up these companies,” Paulson said, referring to the acronym for government sponsored entities. The Chinese declined, he said.
Russia’s five-day war with U.S. ally Georgia started on Aug. 8, the same day as the opening ceremonies of the Beijing Games. Prime Minister Vladimir Putin told U.S. President George W. Bush during those ceremonies that “war has started,” according to Dmitry Peskov, Putin’s spokesman.
“The report was deeply troubling — heavy selling could create a sudden loss of confidence in the GSEs and shake the capital markets,” Paulson wrote. “I waited till I was back home and in a secure environment to inform the president.”
This piece of information has been known for over four years, but Beck is claiming that his network is divinely-guided because it was able to report it eight months ago?
