The coronavirus has hit the West, and everything is shutting down from concerts to schools to Disneyland. Take precautions, but don’t panic. Bill O’Reilly breaks down the medical, social, political, and economic impacts of the coronavirus as the media hypes it up. And last night, the Federal Reserve announced a repo program ten times larger than the 2008 Bear Stearns loan! Keep an eye on the financial sector, America!
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
Hey welcome to the programme. We ve got quite a. We are quite a jam pact programme. Stephen prouder joins us today. We start to show talking about fearmongering in and what? Where is the line of fearmongering and reacting appropriately to this also bill O Reilly? In the SAR interview we spend some time ago a virus, and he said something- and I must tell you that events what it was. He said something really jumped out both meet hands do and about twenty minutes. After the interview with conflict each other at hand, he said Cynthia was really disturbing and we both new we're talking about the same thing, also the FED pledges more than five hundred billion dollars to Keith findings, the markets, Parana virus Update Lara, Logan's and so much more, including Stephen, more all on today's contest
the only thinking. Let's take a look now at our corona virus updates
Where are we on corona virus today? Well total for confirmed cases worldwide. One hundred and thirty, eight thousand that's up almost
thousand from yesterday. The western deaths now are sorry. The western numbers are starting to
for Dr Weir now, starting at the beginning of that.
Curve. That is almost straight line. Up total confirm death worldwide is up about four hundred people. Yesterday, not bad total confirm recoveries worldwide is up
two thousand from yesterday at this time. One hundred and thirty two countries have now confirmed cases up from one twenty five for more now have suspected cases, nine percent of active cases are considered serious. This is the best news about it and you're not hearing anything about this too.
Ex ago it was at nineteen percent.
Now, that is, that is confirmed, cases that are considered serious
clearing some sort of hospitalization
two weeks ago, nineteen percent today
It is nine percent. That's good
eight news, and only three percent of the patients are requiring icy. You, the? U S now has almost eighteen hundred confirmed cases, forty one deaths. That is
about five hundred cases. Thirty eight confirm deaths yesterday in the EU.
Only Alabama Alaska, West, Virginia and main don't have at least one case where
closing schools in at least six states. I think this is
If you are, if you are one of the school administrators- and you are meeting the smart
this thing you can do right now.
Is just say: you know what kids coming back from a vacation
spring vacation spring Break take another week. That's what
our kids school has just done today. Taken up
week. Another week,
I think it's really really smart. It's gonna, be it's gonna, be hard on parents
For multiple reasons. I mean you're gonna nail, your kids. If we are locked up
you know how many kids are gonna die, I'm not from
run a virus just felt better healed bonuses and strangle yes,
close now in at least six states. All public schools in Ohio, Michigan, Maryland Kentucky and New Mexico were told to claw
rules, beginning next week, schools in Washington, California, New York may join in by Monday
proposed length of closures raise range from one week to four weeks. Some
schools, shifting to add home reading plans, others offering partial lessons, Visa LIVE video conference or recorded video lectures. The
hop Ohio official estimate now says at least
percent of Ohio population is infected with Sars cover
exact statement. Is we ve had eleven million people here in the state we how're state of eleven million people, so the math is now over. A hundred thousand bed have this this, according to the
The Department of Health director Doktor Amy Actin, the raid
spread and fatality prompted her to recommend closing all schools in Ohio by today.
She said that gives you some sense of how this virus spreads and is spreading so quickly
the virus is already in your neighborhood, the viruses already, you know with
someone? You know we are way way behind and then
because symptoms don't show up now,
the closing are fast in furious nine been pushed back colleges.
Cancelled, but almost all throughout the country we can. Of course I am worried about the festive here is nine think me too, because usually they cannot like every three months. So that means a nine would be push like behind twelve he's a lot in ten eleven of nine hundred ten and twelve. I hate it I'll leave you didn't say: nine Broadway
as closed Broadway is closed
schools in France or clothes night live nation calls for a postponement of all large scale. Music events- just listen to this. Listen to this universal studios, closed
All theme parks Disney is closed. All theme parks. Anybody who says this is
Stu Conspiracy, everybody's overreacting
no one closes Walt Disney World no
encloses Walt Disney World Disneyland,
okey, o Paris.
One closes that lets bushes light billions of dollars on fire to make a point eight months before an election it makes in those that makes no sense. It makes zero sense.
Also, no one is pressuring these gigantic companies to do
that no no official is leaning on Disney mean, if anything Disney leans on official law, that there was a report that happen in California but
Let me say I mean world what the glue
El Disney chain. You might say that there is now
Breakin, Anaheim or whatever in California. In their like hey closed the park, it's not good to have all these people travelling in, and
the land, but not Disneyland, Disneyworld Disney Tokyo, yachting friend. They don't do that and I think I do think there
We know that the minimum station is probably making clear what their preferences, but it's not you
this administration right
Countries, ITALY in India I make Indy
Quarantine itself off from the rest of the world is one of the largest economies on earth, but this is one of the biggest. This is the biggest problem here is that people think you're overreacting and when we get to the end of this, hopefully it
will appear as though this was a massive over reaction, because the
idea of keeping every one at home and closing these things is so that it doesn't.
Become this huge thing. So, if we're,
everyone will say that was see, look dial drop overreacted or you overreacted, or the meat. Whatever.
This, is one we want to be wrong about.
And the way to prove us. Rural Hung is too.
Stay home, but now
got be crazy about it
All right, let me go back to our corona virus update, so those of the numbers- that's what's being that's, what's actually being closed. All around the world and elsewhere, the the
director of the National Institute of Allergy and infectious diseases, appeal
Thursday to die,
play. The hype surrounding a congressional doctors estimate congressional
after came out, said about seventy million two hundred and fifty million corona vice virus cases could happen in the next year.
In the United States
the director of the National Institute said: okay. Well, that's based on a model and I'd love him to give this lecture to all the leaf. You know
computer modeling scientists for
whether trends and the climate over the next hundred years he's like that.
Based on a model and those things can change and be wrong quickly. Let's not
freak out ledge
just remember that it could be
satellite images today appear to show mass graves in IRAN where they have thousands of covert nineteen victims, and a man in ITALY is on Youtube and Facebook. He is the dust
rod and just doesn't know what to do. He says,
I and my sister in bed now she's dead and I dont know what to do. Please
Can someone help me? I can't give her the honor she deserves, because there are no institutions that will now too
her body. At this point I contacted everybody, but no one will give me an answer. What do I do ITALY's case
fatality rate is still over eight percent of all confirmed cases.
Apple, has now reopen all of its stores in China,
perhaps as an indication of this to show.
Pass, and it will
believe, people are starting to undermine,
People are starting to understand this
mean that we are all going to die,
because we're not what
have to worry about, and an police our own selves is don't spread it.
try not to get it by being around other people. Do all
the things the CDC tells you to do
What we are worried about is the overwhelming of the health care system. We don't have enough beds if people
it's sick and have to go to the hospital. We are not
people are not going to find this pleasant if you were put on a cod
in the middle of a gym or
In sum, you know Astrodome
kind of situation like we had after Kurt Katrina, people are
gonna like that in America, and that's
it's gonna be not major death, but
asked a major disruption to our health care system and it's not
going to go well.
May I just say before we take a quick break stew.
I was concerned with Bill O Reilly.
Because I've never heard him talk this way about. You know what this is. This is a giant na
So this is not a wake up call for America. This is
That we re evaluate our lie and reassess and realize
we're way off track with God and our priorities was added.
Yes, that was very wish that women were to write that you will like well. What's that his bill, I mean every time, can you go into these ranch like we need to stop and think about where we stand? What do you think? I don't know by the back? I d analyze the noose? Well, he always does he owes gotta brings it back to the sort of pragmatic level. What do we know? What can we gleam
from what we what they have more information. We have that.
Like? He went all like new age on us for a second there, like he stepped back
I know this is something tat makes you think it,
the way you're living your life and what are your priorities and like that's, not normal billow rarely seen
what? What? What are you by saying that? No? I do believe that bill is a God, fearing man, and he said some guys up in there he's a
fearing man, and I think that
think this is a demand from the heavens. Wake up, wake up right now. What
top. This is not, and I don't want this to be twisted in any way you can or will be, but I want to be on their record right now. This is not some punishment from God is not anything like that
This is just a situation that reminds us that
at the most important thing about our country is the freedom of the individual and the rights, for
that freedom that had been given,
to us to protect, they are.
On the way out and
In my opinion,
unless we recognise our role and stop
it's not like we're even chasing got out of the square? It's not
we are intentionally breaking all of his base.
His basic rules are just thrown out the window and we ve become. We begin
proponents for the opposite of what God has taught
and no society survives that
it's. Why we were? We were doing the thing in an gettysburg,
this this summer and will have some news on Gettysburg four July, fourth, but
I will tell you it has to be done. It has
be done. We have to renew the covenant and that's a pie,
something. That's not a government thing. That's not a theocracy thing. That is
Those of us who understand the role
This land plays.
And the role and the importance of this land for
the freedom of all mankind,
we must turn back around and pray Lord he'll, our land he'll our people. Our differences bring us back, we will do,
what we have to do to live a righteous life. We need to his bill rightly said
to reassess your life and re order, your life.
And in the end
and this could be the
best thing that happened to us
care to save the republic, because perhaps we go
I can remember that this isn't about politics. This isn't about money. This is about each other is about being deal,
an honourable and working for a better.
Future for our kids, your listening to the best of the Glen Back Programme, it's Friday, which means we check in with the one on the only bill, O Reilly, and we see how he is doing, and I am sure he is memory if he would have been around it would have been thirteen angry men
the law. Really. How are you today
Sorry, I gotcha
so bill? I'm really anxious to hear, because there's that there seems to be a split in America where we ve lost all nuance there.
This corona virus. It is it
is a really bad thing for the overwhelming of our systems and it's gonna be tough to get through, but it's not the boo bonnac plague. In fact, if you want that, you know to LOS Angeles and live on the streets and pick that up.
But there is a split people say this is all hype and over you know it just to over. I didn't you there's nothing to it. Nothing's gonna be wrong. You're all fools and other people buying toilet paper like crazy.
Where are you on this?
We gonna break the story down into about four categories: political matter: global, social and financial. Yes,
In our story like this overwhelms people, and when
people get overwhelmed, they panic
it doesn't matter whether of Irish. It's God I mean when you get overwhelmed and you feel
you don't have any control, you panic
human conditions always been that way.
And you don't have any control over a virus. It is done.
So. Where do you want to start jagged? Someone start, let's turn on medical. What is your take on medical or go through those four categories you just gave me so I know a lot. I m most guys in New York City and their work and round the clock and
he nine one one. They think they have the corona and they go and they look at them now. If there is,
They take them to the hospital if they're not he'll, they go. This is another not whose panicking when they take.
To the hospital in New York.
City largest city in a country may get off
immediately tested for corona
So there's no problem
this mammoth city with testing people.
Who have symptoms of the Irish. Everybody should know that
So when you hear she and NGO there aren't testing Kyrgyzstan it it's a lie.
Where there is a problem is if you do a walk in clinic, so you
I went to El Health clinic and so say I like you to tell me because I'm a nurse many
was Quinnox, don't have the kids. If you add up,
personal physician they should have the kits mine does so that matter,
where you are you're out in the middle of the country,
Your hospital will have the kit, but there also,
spittle will have the kit
but there are also not do that.
One one of the things I think people of us understand. Is you
go in and demand a test there, I'm just gonna: u over. You show simply correct, so you can't. I just said I you happy. You have to be symptomatic right because you're a lot and not rely,
people who are so apparent, oh I'm gonna get, does it and that if a test
it was like aids. Saving apple with AIDS.
In nineteen. Eighty, four, very good at it. Nothing! So if you
fear com and deliberate. You can get
what you need in this medical area are now
it's got a social. I think that Tom Hanks is kind of like you mentioned AIDS, the Rock Hudson. Where
This is going to change things. People are gonna start to go. Oh wow, so regular people are getting this and I mean,
he's got a lotta protection and they he got it and he ll survive. Or you know
be hospitalized, I'm I'm hoping and praying that he's not hospitalized from lawyers. Easy is into being treated industry. Now I've found this story not could see. Annex
I know a little bit, but I'm following a story because the most
important part of the story is not been reported
which is already in his wife contract it,
gave so we need to know that
at a casual bang, we want an airplane flies, usually private law. We don't get that an that's really. The crux of the story you right he's he's Richie Fame is get resources allotted attitude, owes wife get it right. Ok, those are important. Those are important for people to know, because
Do you know, is one of these, so yes you're right. That brings reality to people, but here here's a must
wouldn't they I'm going to tell you today again
This is all the old cliche. This is a wake up, call aright, that's bull. What this is
is a demand.
For you, the american citizen, to reassess your life,
every single one of us all, three hundred and thirty million of us, because tomorrow you have nobody,
includes gonna, come so
nobody in January early February, ever in a million years, thought that this was
sweep the nation and effect
single person what it did in an act so
I'm saying to everybody listen. This is
ring for a reason, because I'm a believer
the reason is that we have begun
so secularize and so polarize people that weird
turning on ourselves, a ripe
not doing the right thing in our personal lives or attacking other people. Is a lotta hatred. Stop then, because, tomorrow,
you can be run over by a semi I'd,
you are not guaranteed anything in this life and then
the message that all American should be thinking about and you gotta live every day in an honest way. A compassionate way and I'm a fatalist on, I haven't really deviated here on Long Island, where I am my behavior
I go out. I do what I used to do, I'm not going to its boy best guess not existing, but if I get the disease I get the disease, then I'll fight that battle
but I'm not gonna, let it ruined my life and change. My outlook
american nationals. Important thing that everybody can take away from this,
Billowy Fleming change now to politics, the third of your list of for politics.
This is the problem I see again. This is the lack of nuance in a society. This is real. We have to pay attention. The president has been taking bold steps, but
At the same time, there are people that are trying to politicize this and make this is a way to make sure the Donald Trump never gets in, but those are
our two separate stories, both of them valid.
Agree or disagree. Let's break it down,
Programming doesn't have a magic wand, even though Joe Biden wooden
You believe that it does ok, so diatribes, a president, and he did it.
I think I'm beginning anyway, it was a two pronged approach, number one. He isolated China from travel to the United States, any also put barriers on South Korea and Japan that
was done in January and it was a very smart move and he did. It gets no,
from the mainstream media for doing it.
basically now doesn't know what to do, because nobody
Does correct aright
nobody really really know what to do if they did they do it? Well, they they are doing what they know. It's not like. I'm standing right gone gee. I don't know what they're doing everything they know your word. That is incorrect corral,
so it's going to infect people, so he makes another smart move by saying to Europe.
Because you have open borders and anyone could walk from Turkey to Sweden.
Acting everybody along the way. We're not gonna take your planes are so there
was a positive here, the negatives he looked a little jittery on the edge
he didn't write.
Ok, so mineralogy human being, although some people
believe that he is many little jewellery and secondly,
Was he didn't explain the Europe Travel
Ban as well as you should have because of your an American in Europe? You can come back right. You just have to be go into it.
System where they're going to test you they look at you. I have to tell you eyes. I got that I don't know. What's the big deal was on this, you didn't say it. I have a try- nobody, I know, but a priori implied- and I understood it so- ok- maybe system so that
Don't drop. I knew the american voter can make up your mind whether that's enough or it isn't enough. One more thing, president
main job? Is
to calm the nation. Take you back to nineteen thirty three first inaugural address after the
The thing we have to fear is fear itself aright, he Talkin to America, and that line is tagged him
Is it true that was?
not true correct. We were right in the middle of the depression and people didn't have supper aright.
I understand I want for food, and that was fearful MIKE.
Parents went through it. I know I'll fearful
with my father
forever Otto empty
basically said an untruth and is an arbor at the only thing we have to fear is fear of him know we have to fear, we don't have supper okay, but he did that to come every
exactly what a sense that we are going to recover at exactly what you wanted? Yes, in the beginning, exactly what we all want the market.
The tank they did anyway, but we want
Everybody to be as normal is possible. That's what President us! Yes, ok,
way into the
Party alliance, which we ve gone over on your programme. Ok, they are in
checked with the other. They work together,
ITALY, after the corona viruses panic,
in America. Making
tromp does strategy. This can kill Trump, so aren't it's gonna. Does it doesn't matter the page one headline in the be bad
here is the page one headline
in the Wall Street Journal, not a friend of Donald Trump quote Trump.
Now travel ban on Europe beyond surprising european.
Capitals deepens tensions among transatlantic allies. Ok, you and you know,
few Wall Street Journal. He did the right thing:
everybody knows that ITALY is closed down and there are no barriers for people travelling throughout the continent, so by
hopping travel. He did the right thing. For America S you Wall Street Journal because you are liars and that's what's happening
You turn on the television a Trump network. Everything he does is wrong because they want this to be the knock out punch on Trop. Then you
abiden go on and I am covering in fairly on below rallied. I come back. I am
I'll, bring Biden, no cheap shots. No, we have dimension. I don't do that. I'm listening, I'm sitting
and I'm waiting for one specific give me
one specific that you would do differently than present drop
don't get it!
seventeen minute address, I get no specific. What I do get is the giant federal government is going to chop this problem, not only in the USA but all over the world, because we're going
cooperation business, Joe Biden Sand and when
good cooperation that going to wipe out there.
Of Irish is that the biggest budget crap you ever yea notes and wipe out the throne virus the free market system in these pharmaceutical companies that everybody is hated for so long there.
Are going to their going new, would defeat the corona virus get as well have actually get exactly right.
In the meantime, this
Is being used to try
I did a short trump, not worked,
whether or not you know we're all in it together. Let's try to get mitigate the panic
try to set up a system where people of confidence
in the financial markets. Stop the madness! Now, let's use it
destroy down trump. Remember what he does. It's bad
This is the best one back programme
welcome to the programme. I want to give you something that I don't think anybody is really talking about today, because we are all worried about other things, but this is very, very important. Listen carefully!
Please to this, we ve been talking about what the FED is been doing with what
all the repose market
and what this is say, there's like it would be used. We called the discount window. If a bank was in trouble, they could go to the
discount window and they could get money
overnight. They have to
law says you have to have a new
money, is not enough. Money
the vault to be
open up the next day. You have to be able to cover all of your debts, so bad
generally. Have that this
discount window was never opened, but by banks
unless they were in real trouble. The FED always had it, but it was
special line you would go into and it was known to all the
SK ago. All that bank is in trouble
and when that bank was in trouble, then
people would Emily was really. I was a high risk thing. You only went there when you are really in trouble at
cause. You more trouble. If you went to that window because everyone would know. Ok, there's there's trouble with that bank
but they did that for a reason to make sure
people who are really responsible with the money, the banks,
to let everybody, no hey, there's there's trouble here with this partition
or sector or with this bank, well that
went to Hell. They just open up the discount window in anybody can go for any reason is all secret and everything else. Let me
You headline Federal Reserve Bank of New York announced its issuing fifty billion dollars and overnight loan or repo agreement between itself and a member investment bank in New York, the FED.
Been participants participating in the overnight lending market between banks, sense law, two thousand seven, but fifty
billion dollars on one night to a single bank is something that has never happened before
and for that matter we don't.
Oh that this is ever happened since March
Health Moody's downgraded Bear Stearns stocks now am obviously reading to you a headline from
two thousand eight.
The Federal Reserve announced its willing issue of fifty billion dollar overnight loan marched,
health Moody's downgraded barrister in stocks and bonds to be to see great effectively junk assets as investors are concerned,
accountants that night calculated that Bear Stearns had less than three billion dollars in total cash assets verses. Eighty two billion dollars and liabilities so not
of cash on hand, open their doors. The game was over the next more
stocks crashed from forty dollars a share to less than ten dollars a share before the regulators took the stock off
two hours J, P Morgan had agreed to by barrister, earns for less than two dollars a share leveraging a one percent loan from the FED to facilitate
the largest bank collapse in: U S. History until Lehman brothers collapsed in a very similar fashion, short
Now we all remember and recognise the names and the situation of Bare Stearns and Lehman brothers, two giant investment banks that caught were caught with her.
Hands down when the housing market and the city market fell apart in two thousand eight. We all know that, but for the
we don't know is that for both banks there was an attempt to save them in both cases the night before
The two largest and most prestigious investment banks in the world collapsed. The
federal, Reserve Bank or the United States, had attempted
to give them huge loans, tens of billions of dollars to try to
tell them out each fifty,
billion dollars for one bank
saw WOT last night.
The? U S, Federal Reserve announced its largest. This is now current history. Last night
The Federal Reserve announced its largest ever overnight lending programme larger than the attempted repo on that was too. A bailed out. Barrister ends in two thousand eight by a factor of ten
the Federal Reserve last night loaned more than five hundred billion dollars into the overnight night liquidity liquidity market. That's where the banks,
borrow some money because they don't have enough cash on hand to dollars opening the doors the next day, five hundred billion dollars. One night.
Now there are only a few banks, they could possibly be measured to have liabilities or cash needs. In the five hundred billion dollar range,
p Morgan, people's Bank of China, Mitsubishi Financial Bank of America, Deutsche Bank.
The largest banks in China, the largest bay
since Japan, the largest bank in Germany and the largest banks in the- U S there
is a precedent for covered nineteen, the spanish flu of nineteen eighteen,
We know how to navigate those waters, but there is
No precedent in world history for a bank levy
five hundred billion dollars to another bay.
In one night to cover them
get losses fight
hundred billion dollars is larger than the annual gdp of most nations on planet earth.
In two thousand eight,
the death Rattle Bear Stearns.
In twenty twenty, based on what the FED did last night work:
is it that we are hearing.
What domino is weak, they are telling us
the banks are fine they're telling
The banks are good and they probably are.
But a five hundred billion dollar overnight loan is unprecedented.
Keep your eye on the financial sector, but this is
I want to be really careful and I have been going back and forth and really praying hard and I'm really struggling right now.
Because I am a guy that always sees the problems. I see the holes in the Vienna in the titanic after we leave the iceberg. I I see
And I usually see them I had once
that whole is in the iceberg.
I'm one that is better at night.
Making people panic and saying we're gonna make it were keep going lot. Yadda, yadda, yadda,.
I warned you for a long long time that we're going
have real problems. I'm not
Or that this is it every
Intellectually, in me,
everything that I know all the history that I have of looking at these things: everything
this is this may be. What
We ve been preparing for.
But I don't have any
feeling of dread or doom or panic. Why
So ever that's unusual,
For me as home, usually the one going, don't you see? Wake up and I
we have that panic and I honestly
maybe I'm not
I don't know- maybe I'm not worthy. Maybe I'm I'm not. Maybe my my
I am to warn p. I don't know what's happening to me right now
all I know is. I can just tell you the facts, and I can
So tell you, don't panic.
Because I really truly believe that, but
We also need to tell you at the same time on
ass, it ended things are happening, and I can
tie them altogether. Yet something
is off, and I just don't know what it is, and I would
sincerely ask for.
Your prayers? I ask.
Ass for your prayers for everyone on this show and everyone who advises me and most of all me
that I've figure out what the heck is, that I don't doubt
and that I have.
Enough humility to actually here what I'm supposed to tell you every day here
but I do know,
we're not gonna die from the corona, flew Corona flew were
gonna be on the other side. But on the other hand we are
we are facing headwinds that I haven't seen in my lifetime before and hopefully everything calms down, but things
don't fit together neatly yet and
I would just ask for your prayers and I would ask you to do one more thing: stop playing politics
tell all of your friends stop it. We know
that the press is not telling us the truth this,
the time where we all need our credibility, the press doesn't have
credibility, so nobody is trusting what they say because they have never.
The truth about any the good things about Donald Trump. It's all bad, it's all everything that he does is just the worst. That's.
they have no credibility. You must have your credibility and you have to tell people look
we're gonna lose people, and
If we lose what
percent, which is up
hopeful number if we just only lose one per cent of everybody who gets the corona virus. It's good
be bad and it's gonna hurt all of us personally.
But were most of us going to make it through it. It's not that that were worried about that's a big toll,
there's two things. You need to worry about the overwhelming of the system, because people panic
the overwhelming of our medical staff and the
ass thing that we can do is take care of each other.
Take care of the neighbour that is next to make sure that they are ok,
make sure that you just call each other face time. Each other jobs
do the things that all of our churches taught us to do,
wait around for the government to tell you to do things
you do them, because in a free society we have a responsibility to not be
reckless with our health or other people's health there,
is, is you
I not get sick, but if you
and exposed? And yours getting somebody else, sick, you're part of the problem we all have to make
sure that we are doing the right thing for
Dare I say it the collective, but
in the way that we all understand it, we
all free individuals now
let's step up and exercise our responsibility. To also be
Transcript generated on 2020-04-03.