'Glenn Beck': Who Will Pay for Greece's Debt?

This is a rush transcript from "Glenn Beck," May 5, 2010. This copy may not be in its final form and may be updated.

GLENN BECK, HOST: There were union protests in Greece today. There is fire, people dying, union protests. I mean, it's all about their debt and now, the budget cuts.

Well, how much of Greece's debt is actually going to fall to us?

Some lawmakers and other commentators are arguing that the U.S. is going to be handed a big bill to rescue Greece from default because the U.S. is the International Monetary Fund's largest shareholder.

Others, however, argue that the European Union commitment is much larger than ours. It should be. It's their crappy union. Their democratically elected representatives, you know, caused the mess, not ours.

You know who is left out of all of this argument? You.

It's not the government's money. It's your money.

But each member nation has a quota — that is a financial stake in the IMF expressed as a percentage. And everybody contributes accordingly. Isn't that great, these union riots over in Greece? Hope it doesn't happen here.

Can you show me the quotas, please?

The U.S. quota is 17.1 percent, followed by Germany and Japan at 6.1. Germany at 6.0; U.K., 4.9; China, wow! China is 3.7. Seventeen points —

As usual, it seems our burden is nearly triple that of any other single country. And some wonder why I might become more libertarian every day.

There is no way around this. There is no way around these numbers. There's no way around knowing and seeing that people are positioning themselves in a global sort of way.

We need to spit ourselves out of this system. It's the only answer to this mess. We have to demand that we cut taxes and spending — I mean, cut spending like crazy. And another thing — could we please get out of the shadowy, shady organizations like the IMF?

I mean, they say it's a global credit union. Yes, yes. I don't like global stuff, I really don't. I mean, I know that makes everybody, you know, a little uncomfortable to say it, but I kind of like it local — smaller.

You know, for instance, local credit unions — I know when I walk in who I should complain to. With a global credit union, I haven't found a drive-through or a teller or a loan officer or elected official or FDIC or — I don't even know anybody's name at the IMF.

If you have a complaint, who do you call? Can anybody in the audience — can you right now ask yourself this: Do you know the structure of the IMF? Do you know the board members? Do you know how they give the money away? Do you know how to get the money back?

You know, until we answer some of those questions, maybe we should belly up to the teller and say, I'd like to close my account, please.

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